LBI Real Estate Weekly Sales Update 08/01/2021-08/08/2021
- High Tides Digital Marketing
- Aug 9, 2021
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 08/01/2021-08/08/2021
LBI Real Estate Weekly Sales Update 08/01/2021-08/08/2021: Activity in the Long Beach Island real estate market exploded this week with a total of 89 changes to the MLS. This is much higher than we have seen in the last several weeks-and much of this activity was in the form of new listings. 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
38 new listings entered the market with an average price of $1,454,495
22 listings went under contract with an average listing price of about $1,349,118
10 properties sold on Long Beach Island with an average price of $1,392,800
5 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 08/01/2021-08/08/2021
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
More new listings came on the market than we have seen come on in some entire months! This is good news for buyers who have been waiting for inventory levels to rise. That said, there were still 22 pending sales so the total net gain of inventory was less than it may seem. Overall, the market is doing very well on Long Beach Island and finally starting to show some signs of balance. The COVID Delta variant could change all that if we see a repeate in consumer patterns of buying beach houses to flee more crowded areas. 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 08/01/2021-08/08/2021 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
