LBI Real Estate Daily Market Update Thursday May 4th 2023

High Tides Digital Marketing
May 4, 2023
2 min read

Long Beach Island NJ (LBI NJ) Real Estate Market Update for Thursday May 4th 2023

LBI Real Estate Daily Market Update Thursday May 4th 2023

Long Beach Island Real Estate Sales Market Update Thursday May 4th 2023

It was another day of strong activity in the LBI real estate market. There were 3 new listings and 2 pending sales, so the market was fairly balanced. Overall it has been a strong week for pending sales on Long Beach Island as we get ever closer to the summer season. Market activity on Long Beach Island was as follows:

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

LBI Real Estate Daily Market Update Thursday May 4th 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	Current Price
New Active	NJOC2017886	14 W 3rd St	Barnegat Light	$2,475,000
New Active	NJOC2018256	101 1st St N	Surf City	$2,049,000
New Active	NJOC2017956	12-A E Essex Ave	Harvey Cedars	$2,995,000
Active Under Contract	NJOC2017944	1609 W West Ave	Beach Haven	$1,395,000
Pending	NJOC2012382	1 Cox Ave	Harvey Cedars	$1,100,000

The LBI real estate market continues to face the same challenges we have seen over the past few months. Inventory is very low, and demand is still strong. While some buyers are turned off or turned away entirely due to the higher costs of lending, it has not been enough to slow down the market in general. I expect we will continue to see strong activity and the absorption of new inventory in the Long Beach Island real estate market as we get closer to the summer season. If you have any questions about buying, selling, or investing in the LBI real estate market, please do not hesitate to contact me.