LBI Real Estate Sales Volume and Days on Market August 2019
- High Tides Digital Marketing
- Aug 23, 2019
- 2 min read
Long Beach Island Real Estate Single Family Home Sales Volume and Average Time on Market
Long Beach Island Real Estate Market
When looking to buy, sell or invest in the Long Beach Island real estate market it is important to understand how the market has been performing over the past several years. This gives us some guidance on where we are in the market cycle. There are some signs that things have slowed down in the LBI real estate market so looking at the overall market trends can help buyers and sellers understand how to participate in the current market. Here we are looking at LBI Real Estate Sales Volume and Days on Market for single family homes over the past 5 years.
LBI Real Estate Sales Volume and Days on Market
In the chart below we are looking at the total sales volume for single family homes in the LBI real estate market as well as the average days on the market for the past 5 years. Of course 2019 is well below the other years as we are only a little more than halfway through the year.
Primary Year | Sales, $ Volume | Days to Sell, Average |
2014 | $370,152,772 | 146 |
2015 | $442,089,400 | 167 |
2016 | $472,763,599 | 161 |
2017 | $602,921,536 | 120 |
2018 | $552,033,641 | 113 |
2019 | $296,219,806 | 101 |
It is clear that home values have increased on Long Beach Island since Hurricane Sandy. This should come as no surprise given the fact that there are more new homes trading in the market at a higher price than the old Cape Cod style homes that previously occupied the lot. We can see that 2017 was the high point in the market for overall volume of single family homes and also had one of the shortest average times on the market. This along with other data points suggests that 2017 was the high point in the market.
Buying and Selling in the Long Beach Island Real Estate Market
Buying or selling a home is a major investment on Long Beach Island. It is clear that the overall sales volume has dropped off somewhat. Interestingly though, prices have increased year over year. We can therefore draw the conclusion that the overall number of homes sold has been fewer. You may also find this section of my website helpful where I track monthly sales in the LBI real estate market. If you have any questions about LBI Real Estate Bayside Single Family Home Sales or 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
