LBI Real Estate New Construction Sales 2019

High Tides Digital Marketing
Jan 13, 2020
2 min read

Long Beach Island Real Estate New Home Sales 2019

Long Beach Island Real Estate New Construction

The Long Beach Island NJ real estate market had an overall strong 2019. There was more activity in the sales market compared to last year and the average price was slightly higher. While still behind the sales volume of 2017, the LBI real estate market performed well overall. The new construction segment of the market reflected the broader sales market. Looking at the overall new home market and taking all homes styles, locations and price points into account we see the following:

73 new homes sold in the Long Beach Island real estate market
The average price of a new construction was $1,781,877
Both of these numbers show a slight improvement over 2018

LBI Real Estate New Construction Sales

Below is a breakdown of the number of sales and the average sales price for a single family new home in the LBI real estate market over the past 5 years:

Primary Year	Sales, Number of	Sale Price, Average
2015	51	$1,500,382
2016	47	$1,613,733
2017	77	$1,720,136
2018	71	$1,701,123
2019	73	$1,781,87

As you can see, the market is performing well. While the number of new homes sold is slightly lower than 2017, what I still maintain is the height of the market on Long Beach Island, there has been improvement recently. The number of new home sales has grown significantly since Hurricane Sandy and seems to have leveled off with the number of homes trading each year. Likewise, the average price remains steady for a new home. Overall I take this is a very positive sign. We see stability and marginal growth in the new home market on Long Beach Island.

New Homes in the Long Beach Island Real Estate Market

New construction sales are a very interesting segment of the LBI real estate market. Finding a building site has become harder in recent years as the market for tear downs and vacant land has shrunk. This is in part due to Hurricane Sandy and in part due to both builders and end-users purchasing building sites. Overall the strength we have seen in the real estate market on Long Beach Island translates to a strong new home market as well. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.