LBI Real Estate Weekly Sales Update 07/09/2023-07/16/2023
- High Tides Digital Marketing
- Jul 16, 2023
- 4 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 07/09/2023-07/16/2023
LBI Real Estate Weekly Sales Update 07/09/2023-07/16/2023: It was a busy week in the Long Beach Island real estate market, especially for pending sales! Inventory fell again as the number of new listings was very low 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 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
5 new listings entered the market with an average price of $2,142,600
12 listings went under contract with an average listing price of about $1,620,667
3 properties sold on Long Beach Island with an average price of $1,466,333
12 listings saw price reductions in the LBI real estate market and 1 listing raised it's price
LBI Real Estate Weekly Sales Update 07/09/2023-07/16/2023
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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.
Last Change Type | MLS # | Address | City | Area | Current Price |
New Active | NJOC2019716 | 340 Kentford Ave #UNIT 1 | Beach Haven | LBI | $879,000 |
New Active | NJOC2019726 | 216 4th St | Beach Haven | LBI | $1,300,000 |
New Active | NJOC2019784 | 340 Kentford Ave | Beach Haven | LBI | $1,569,000 |
New Active | NJOC2019676 | 340 Kentford Ave | Beach Haven | LBI | $1,569,000 |
New Active | NJOC2019602 | 15 W Muriel Ave | Long Beach Township | LBI | $2,349,000 |
New Active | NJOC2019646 | 5909 Ocean Blvd | Long Beach Township | LBI | $2,400,000 |
New Active | NJOC2019780 | 1110 S Beach Ave | Beach Haven | LBI | $3,095,000 |
Price Decrease | NJOC2016052 | 1210 Long Beach Blvd #C1 | Long Beach Township | LBI | $399,000 |
Price Decrease | NJOC2016196 | 1210 Long Beach Blvd #C2 | Long Beach Township | LBI | $399,000 |
Price Decrease | NJOC2018928 | 1603 Barnegat Ave | Ship Bottom | LBI | $1,299,000 |
Price Decrease | NJOC2017424 | 5111 West | Long Beach Township | LBI | $1,350,000 |
Price Decrease | NJOC2019352 | 2 W Bayberry Dr | Long Beach Township | LBI | $1,399,000 |
Price Decrease | NJOC2018538 | 333 N 8th St | Surf City | LBI | $1,499,999 |
Price Decrease | NJOC2017084 | 102 E Weldon Pl | Long Beach Township | LBI | $2,195,000 |
Price Decrease | NJOC2019380 | 2-A Long Beach Blvd | Long Beach Township | LBI | $2,250,000 |
Price Decrease | NJOC2018092 | 102 N 2nd St | Surf City | LBI | $2,389,000 |
Price Decrease | NJOC2018096 | 49 N 1st St | Surf City | LBI | $2,639,000 |
Price Decrease | NJOC2015312 | 230 Fairview Ave | Beach Haven | LBI | $2,699,000 |
Price Decrease | NJOC2016812 | 131-C Long Beach Blvd | Long Beach Township | LBI | $5,999,000 |
Price Increase | NJOC2018482 | 5300 West Ave | Long Beach Township | LBI | $1,599,000 |
Active Under Contract | NJOC2019256 | 364 W 7th St | Ship Bottom | LBI | $849,000 |
Active Under Contract | NJOC2019250 | 364 W 7th St | Ship Bottom | LBI | $849,000 |
Active Under Contract | NJOC2019126 | 25 W Julia Ave | Long Beach Township | LBI | $1,249,000 |
Active Under Contract | NJOC2011590 | 5-A Sunset | Long Beach Township | LBI | $1,495,000 |
Active Under Contract | NJOC2019502 | 14 E Sigsbee Ave | Long Beach Township | LBI | $1,499,000 |
Active Under Contract | NJOC2018560 | 381 W 11th St | Ship Bottom | LBI | $1,699,000 |
Active Under Contract | NJOC2016208 | 10 Shore Rd | Surf City | LBI | $2,150,000 |
Active Under Contract | NJOC2019278 | 7 S Central Ave | Surf City | LBI | $2,200,000 |
Active Under Contract | NJOC2018438 | 5-East 15th | Long Beach Township | LBI | $2,299,000 |
Pending | NJOC2018852 | 1715 Bay Ter | Beach Haven | LBI | $925,000 |
Pending | NJOC2018754 | 7207 Sea Gull Ave | Long Beach Township | LBI | $1,125,000 |
Pending | NJOC2019298 | 4 E 19th St | Long Beach Township | LBI | $1,499,000 |
Pending | NJOC2015626 | 15 Cleveland Ave | Long Beach Township | LBI | $2,459,000 |
Closed | NJOC2018262 | 7403 Long Beach Blvd | Harvey Cedars | LBI | $999,000 |
Closed | NJOC2017220 | 215 8th St | Beach Haven | LBI | $1,100,000 |
Closed | NJOC2018440 | 124 W Harmony Ave | Long Beach Township | LBI | $2,300,000 |
Temporary Off Market | NJOC2018544 | 1701 West Ave | Beach Haven | LBI | $1,849,000 |
Withdrawn | NJOC2015964 | 122 Amber St | Beach Haven | LBI | $2,499,000 |
Withdrawn | NJOC2014214 | 1110 S Beach Ave | Beach Haven | LBI | $3,295,000 |
Canceled | NJOC2019348 | 4 E 19th St | Long Beach Township | LBI | $1,499,000 |
Canceled | NJOC2017998 | 113 21st | Long Beach Township | LBI | $1,575,000 |
Expired | NJOC2012428 | 8511 Long Beach | Long Beach Township | LBI | $1,274,000 |
Expired | NJOC2017762 | 33 W Essex Ave | Harvey Cedars | LBI | $1,799,000 |
Expired | NJOC2015800 | 101 N 1st Street | Surf City | LBI | $2,199,000 |
LBI New Jersey Real Estate Sales Analysis
There were two notable trends this week. There were roughly twice as many pending sales as there were new listings this week, showing that buyers are still very active in the LBI real estate market. There were also a higher-than-average number of price drops. This goes to show that while the market is still very strong on Long Beach Island, sellers have to be realistic with their price point. Now, more than ever, data and experience matter when pricing a home in the LBI real estate market. A well priced home will receive multiple offers in the market, if it is overpriced, it will have to reduce the price to gain attention. There are 115 active listings in the MLS this week and 60 pending sales. 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 07/09/2023-07/16/2023 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
