LBI Real Estate Daily Market Update May 6th 2024

High Tides Digital Marketing
May 6, 2024
2 min read

Long Beach Island NJ (LBI NJ) Real Estate Market Update for November

LBI Real Estate Daily Market Update May 6th 2024

Long Beach Island Real Estate Sales Market Update November

Today was a steady day in the LBI real estate market with balanced activity, apart from new listings. The LBI real estate market is still experiencing low inventory levels and today's activity did not help that. No new listings entered the sales market and two homes went under contract on Long Beach Island. It is interesting to note that the two homes that went under contract in the LBI real estate market were radically different. The first was a modest bayside cape on the bayside in Beach Haven Gardens, and the other was a large, new oceanfront home in North Beach!

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

LBI Real Estate Daily Market Update May 6th 2024

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	Zip Code
Price Decrease	NJOC2023374	108 E 7th St #1	Ship Bottom	LBI	$1,200,000	Zip Code 08008
Pending	NJOC2022430	6 34th	Long Beach Township	LBI	$1,019,000	Zip Code 08008
Pending	NJOC2019846	1027-C Long Beach	Long Beach Township	LBI	$8,999,900	Zip Code 08008
Closed	NJOC2023342	5614 Holly Ave	Harvey Cedars	LBI	$2,700,000	Zip Code 08008
Canceled	NJOC2025506	102 W 20th St	Ship Bottom	LBI	$1,650,000	Zip Code 08008

Currently, there are only around 105 single-family homes for sale in the LBI real estate market. This is a very low number and, historically, near the bottom in terms of supply. Demand is still very strong with about 50 pending sales in the LBI real estate market. Until this trend changes, it is doubtful that we will see prices drop. If you have any questions about buying, selling, or investing in the LBI real estate market, please do not hesitate to contact me.