LBI Real Estate Weekly Sales 3/9/2020-3/15/2020
- Mar 17, 2020
- 6 min read
Long Beach Island Real Estate Weekly Sales Update
LBI Real Estate Weekly Sales Update 3/9/2020-3/15/2020: There were a total 92 changes to the Long Beach Island real estate market this week. To help understand the dynamics of the LBI real estate market for buyers, sellers and investors I publish a weekly sales update for the Long Beach Island real estate market in addition to my monthly analysis of home sales. You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame. To give a quick summary:
22 new listings entered the market with an average price of $1,344,365
14 listings went under contact with an average listing price of about $912,786
9 properties sold on Long Beach Island with an average price of $1,137,000
7 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales 3/9/2020-3/15/2020
Below is a breakdown of all market activity on Long Beach Island over the past week. For the property status NEW ACTIVE means it is a new or re-listed home, PRICE DECREASE means the price was reduced, PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing. Note this is for single family homes, condos, duplexes and commercial real estate listed by all local Long Beach Island real estate agencies.
LBI New Jersey Real Estate Sales Analysis
We are clearly in uncharted territory with the Cornovirus. The impact both globally and locally remains to be fully seen but for now, transactions are taking place on Long Beach Island. Buyer confidence seems to be holding steady and if the past is any indicator, the LBI real estate market will be fine. One interesting statistic to track in the common weeks is the number of homes that come back on the market. This can happen for any number of reasons (home inspections for example) but if we see a higher than average number of these taking place it could be a sign that buyers are stepping back. This week there were 5 listings that came back on the market. We will see what next week brings. For more information about buying, selling or investment in the Long Beach Island real estate market or about LBI NJ Real Estate Weekly Sales Update 3/9/2020-3/15/2020 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
