LBI Real Estate Daily Market Update June 19th 2024
- High Tides Digital Marketing
- Jun 19, 2024
- 3 min read
Long Beach Island NJ (LBI NJ) Real Estate Market Update for June 19th 2024
Long Beach Island Real Estate Sales Market Update June 19th 2024
In today's LBI real estate marketupdate, we see one of the great challenges with tracking statistics on Long Beach Island: duplicate entries in the MLS. All too often we see the same property being listed multiple times, which can cause an issue in tracking available listings and pending sales. There were a total of 14 changes to the MLS today, but seven of these were duplicate entries. Overall, the activity in the Long Beach Island real estate marketupdate was mixed across all areas of the market and activity was as follows:
4 new listings came up for sale in the LBI real estate market (but in reality, there were only 2 new listings as the same house was entered 3 times)
3 homes went under contract on LBI
1 home sold on Long Beach Island
3 homes saw a price reduction in the LBI real estate market (but one listing was entered twice, so there were really only 2 price drops today)
LBI Real Estate Daily Market Update June 19th 2024
Below is a breakdown of all changes and transactions that took place in the LBI real estate market today.
Last Change Type | MLS # | Cat | Address | City | Area | Current Price |
Coming Soon | NJOC2026624 | RES | 1518 Sunset Ave | Surf City | LBI Real Estate Market | $1,185,000 |
New Active | NJOC2026060 | COM | 51 N 24th Street | Surf City | LBI Real Estate Market | $1,499,000 |
New Active | NJOC2026058 | RES | 51 N 24th Street | Surf City | $1,499,000 | |
New Active | NJOC2026052 | LAND | 51 N 24th Street | Surf City | LBI Real Estate Market | $1,499,000 |
Price Decrease | NJOC2026340 | MUL | 242 N 8th St | Surf City | LBI Real Estate Market | $1,299,000 |
Price Decrease | NJOC2026338 | RES | 242 N 8th St | Surf City | LBI Real Estate Market | $1,299,000 |
Price Decrease | NJOC2023284 | RES | 6 W 20th St | Barnegat Light | LBI Real Estate Market | $2,225,000 |
Price Decrease | NJOC2020922 | RES | 1414 Bay Ter | Ship Bottom | LBI Real Estate Market | $2,624,900 |
Active Under Contract | NJOC2025758 | RES | 131 W Kimberly | Long Beach Township | LBI Real Estate Market | $1,999,000 |
Active Under Contract | NJOC2025162 | RES | 79 W California Ave | Long Beach Township | LBI Real Estate Market | $1,999,000 |
Active Under Contract | NJOC2025918 | RES | 102 E South 34th St | Long Beach Township | LBI Real Estate Market | $3,190,000 |
Closed | NJOC2026126 | RES | 10 E 20th | Long Beach Township | $3,000,000 | |
Expired | NJOC2021464 | RES | 8 E 30th | Long Beach Township | LBI Real Estate Market | $1,399,000 |
Expired | NJOC2021328 | MUL | 8 E 30th St | Long Beach Township | LBI Real Estate Market | $1,399,000 |
I added a column to today's update showing the property classification for each listing. As you can see, 51 N 24th Street was entered as a commercial listing, a residential listing, and as vacant land. While there is nothing wrong with doing this, as the property fits multiple parts of the LBI real estate market, it is important to note that there are fewer homes for sale than appear. Double entries lead to phantom inventory, so the actual number of homes for sale in the LBI real estate market is far less than it seems on the surface! While there were 14 changes to the MLS today, these changes took place on only 10 properties (with 4 of the changes being for duplicate listings). Buyers and sellers need to be aware of this so they can have an accurate understanding of the LBI real estate market. If you have any questions about buying, selling, or investing in the LBI real estate market, please do not hesitate to contact me.
By: Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
