LBI Real Estate New and Active Listings in 2020
- High Tides Digital Marketing
- Jan 28, 2021
- 2 min read
Long Beach Island Real Estate Inventory Levels During COVID-19
Long Beach Island Real Estate Inventory Levels
The LBI real estate market has seen some extraordinary activity in 2020, thanks mainly to COVID-19. Coronavirus increased the activity levels in the already busy LBI real estate market and has greatly reduced the number of homes for sale on Long Beach Island. All buyers and sellers should be aware of these trends as they can have a significant impact on the ability to complete a successful transaction on Long Beach Island.
March of 2020 saw the highest inventory with a total of 692 listings for sale
January 2021 saw the lowest with 215 listings for sale on Long Beach Island
July saw 139 new listings come on the market, the highest month of the year
April saw the lowest number of new listings (40) followed closely by December with 42
The chart below shows the number of new listings that entered the LBI real estate market for each month in 2020 as well as the total number of homes for sale in each month.
The chart above shows some interesting trends. There has been a steady decline in the number of homes for sale on Long Beach Island each month since LBI resumed activity in April. The number of new homes that have entered the market has also been dropping, a sign that supports the theory that many owners are choosing to keep their homes rather than take advantage of the higher prices. January did see an uptick in activity and this matches past trends. Historically, January and February are busy listing months so the LBI real estate market may get some relief from these low inventory levels.
Month | Number of New Listings | Active Listings, Number of |
Feb-20 | 126 | 677 |
Mar-20 | 90 | 692 |
Apr-20 | 40 | 636 |
May-20 | 57 | 600 |
Jun-20 | 88 | 581 |
Jul-20 | 139 | 582 |
Aug-20 | 114 | 560 |
Sep-20 | 157 | 569 |
Oct-20 | 129 | 501 |
Nov-20 | 75 | 429 |
Dec-20 | 42 | 294 |
Jan-21 | 61 | 215 |
Long Beach Island Real Estate Inventory Levels During COVID-19
While the supply of homes for sale on Long Beach Island is at an all time low, there are still many opportunities for buyers if you know where to look and understand what determines value. As we come into February, I do expect we will see more homes come on the market, but there are many buyers waiting to absorb this inventory. If you are looking to buy a home in the LBI real estate market, the best thing you can do is understand the market and know what to look for so you can act quickly (while still remaining disciplined). Interest rates are still low, but we are starting to see that change which only increases the motivation to act quickly. 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
