LBI Real Estate Daily Market Update May 11th 2023

High Tides Digital Marketing
May 11, 2023
2 min read

Long Beach Island NJ (LBI NJ) Real Estate Market Update for May 11th 2023

LBI Real Estate Daily Market Update May 11th 2023

Long Beach Island Real Estate Sales Market Update May 11th 2023

It was a day of pending sales and closed transactions in the Long Beach Island NJ real estate market today! We will start to see an increase in closed sales as we edge closer to Summer and the pending sales of the spring market on LBI settle. We are still seeing stable activity from buyers, and inventory remains low.

0 new listings came up for sale in the LBI real estate market
1 home went under contract on LBI
3 home sold on Long Beach Island
0 homes saw a price reduction in the LBI real estate market

LBI Real Estate Daily Market Update May 11th 2023

Below is a breakdown of all changes and transactions that took place in the LBI real estate market today.

Last Change Type	MLS #	Address	City	Area	Current Price
Active Under Contract	NJOC2016654	321 W 4th St	Ship Bottom	LBI	$1,299,000
Closed	NJOC2016898	1020-B Long Beach Blvd	Long Beach Township	LBI	$2,200,000
Closed	NJOC2017302	102 Roosevelt Ave W #BS-21	Long Beach Township	LBI	$48,000
Closed	NJOC2015590	11804 Sunset Ter	Long Beach Township	LBI	$3,513,685
Canceled	NJOC2014068	1 Cedars Ave	Harvey Cedars	LBI	$1,679,000
Expired	NJOC2013940	126 E 22nd E	Long Beach Township	LBI	$2,600,000

The listings varied greatly today in the LBI real estate market. There was a very nice bayfront home that settled for over $3,500,000 and a boat slip that sold just under $50,000. As I mentioned above, inventory remains the challenge in the Long Beach Island real estate market with only around 125 single family homes listed for sale. Interestingly enough, the value of the LBI real estate market as increased over the last year on a listing by listing basis, so the market has actually risen in the face of higher interest rates. If you have any questions about buying, selling, or investing in the LBI real estate market, please do not hesitate to contact me.