LBI Real Estate Oceanside Single Family Homes in 2019

High Tides Digital Marketing
Jan 23, 2020
2 min read

Oceanside Single Family Home Sales in the Long Beach Island Real Estate Market

LBI Real Estate Oceanside Single Family Homes

Long Beach Island Real Estate Single Family Home Sales 2019

The Long Beach Island real estate market had good activity overall in 2019. As usual, single family home sales dominated the market as a whole. The average price of a home was a little higher in 2019 as compared to 2017 (the year with the most transactions) and 2018. While the general market saw a lot of activity, that increase was not spread evenly amongst all locations. There were some areas that saw drops in the numbers of home sold and others, like the oceanblock, that saw a large increase. Today we are going to look at single family oceanside transactions to see how that facet of the market fared in 2019.

There were 100 sold single family homes on the oceanside in 2019
The average price of a home was $938,148
The number of homes sold and the average price were both lower in 2019 when compared to 2018

LBI Real Estate Single Family Oceanside Home Sales in 2019

Below is a chart of all single family homes sold on the oceanside areas of the LBI real estate market over the past five years:

Primary Year	Sales, Number of	Sale Price, Average
2015	39	$808,731
2016	102	$885,307
2017	98	$922,997
2018	106	$986,347
2019	100	$938,148

The chart above shows some interesting data. 2019 saw a drop in both the number of homes sold and the average price when compared to 2018. This is surprising because overall 2018 has lagged behind 2019 in general. The oceanfront market on Long Beach Island saw a drop off in activity in 2019 when compared to 2018 but had a much higher average price point. While there are some differences from year to year, the oceanside market has proven to be remarkably stable in both volume and price. taking 2015 out of the equation, the last 4 years (2016-2019) see a low point of 98 transactions and a high point of 106. This is a very small variation in the number of transactions. Likewise, the price has shown stability as well, especially in the last three years.

Long Beach Island Real Estate Market Sales in 2019

2019 finished another robust year in the LBI real estate market. While the volume of homes sold is still lower than in 2017, the average value of a home has risen year after year. One notable trend observed in 2019 was the kind of house sold. While there were more sales in 2019 than 2018, much of the gain was in the condo market, NOT the single-family home market. As values for all kinds of property in the LBI market increase, these more affordable condos appear to be attracting some extra consideration. If you have any questions about LBI Real Estate Single-Family Ocean block Home Sales in 2019 or about buying, selling, or investing in the LBI real estate market, please do not hesitate to contact me.