LBI Real Estate Weekly Sales Update 04/09/2023-04/16/2023
- Apr 16, 2023
- 3 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 04/09/2023-04/16/2023
LBI Real Estate Weekly Sales Update 04/09/2023-04/16/2023: It was an all around quiet week in the Long Beach Island New Jersey real estate market with only 35 changes to the MLS. 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 on Long Beach Island NJ. You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
11 new listings entered the market (but a few of these were old listings that expired and came back on the market)
4 listings went under contract
5 properties sold on Long Beach Island
5 listings saw price reductions in the LBI real estate market
LBI Real Estate Weekly Sales Update 04/09/2023-04/16/2023
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
There were far more new listings this week than there were pending sales, but with inventory levels still so low, it is easy to understand why we do not see more homes selling. There is simply not enough to go around, and many of the homes listed for sale have been on the market for some time. When a new listing comes up and is priced correctly, it sells in a matter of days or weeks at the most! There are 131 active listings in the MLS this week and 55 pending sales. This has been the ratio for some time now, and it seems to be a good balance for the LBI real estate market. For more information about buying, selling or investing in the Long Beach Island real estate market or about LBI NJ Real Estate Weekly Sales Update 04/09/2023-04/16/2023 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
