LBI Real Estate Weekly Sales Update 06/19/2022-06/26/2022
- Jun 26, 2022
- 4 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 06/19/2022-06/26/2022
LBI Real Estate Weekly Sales Update 06/19/2022-06/26/2022: There were only 52 changes to the Long Beach Island real estate market this week, which is a bit of a decline in the overall market activity. As we enter the traditionally slower summer months, we can expect to see a more significant decrease in activity thanks to the changes in the financial markets worldwide. That said, the LBI real estate market is strong and this week showed more pending sales than new listings on the market. You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
12 new listings entered the market with an average price of $2,667,742
13 listings went under contract with an average listing price of about $2,411,377
12 properties sold on Long Beach Island with an average price of $2,097,500
6 listings saw price reductions in the LBI real estate market
LBI Real Estate Weekly Sales Update 06/19/2022-06/26/2022
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
While the market does appear to be returning to a more balanced state, there is still a large disparity in the supply of homes for sale. There are 115 active single family home listings in the MLS this week and 85 pending sales. In a "normal" market, we usually see around 500-600 single-family homes for sale so there is clearly a long way to go before the market is in danger. 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 06/19/2022-06/26/2022 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
