LBI Real Estate Weekly Sales Update 08-25-2024 to 9-1-2024
- Sep 1, 2024
- 5 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 08-25-2024 to 9-1-2024
LBI Real Estate Weekly Sales Update 08-25-2024 to 9-1-2024: The last week of Summer 2024 saw an explosion in new listing activity. This is normal for the time of year as homeowners wrap up their last days on Long Beach Island and list their homes for the fall market. In fact, there were three times as many new listings as there were pending sales! Such a disparity has not been seen in over a year! In addition to this LBI real estate weekly sales update, be sure to visit my monthly analysis of home sales on Long Beach Island NJ. This page tracks all activity in the Long Beach Island real estate market month by month and helps to give buyers, sellers, and investors some good insight into LBI real estate market activity. You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
24 new listings entered the market with an average price of $2,469,366
8 listings went under contract with an average listing price of about $1,535,862
11 properties sold on Long Beach Island with an average price of $2,021,184
10 listings saw price reductions in the LBI real estate market
LBI Real Estate Weekly Sales Update 08-25-2024 to 9-1-2024
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 lowered, PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), CLOSED means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing. Note that this is for single-family homes, condos, duplexes, and commercial real estate listed by all local Long Beach Island real estate agencies, and all data is taken from the Bright MLS system.
LBI New Jersey Real Estate Sales Analysis
Buyers will welcome the surge in new listings that entered the LBI real estate market this week. Inventory has been a major issue for buyers, so the addition of so many homes is very much needed. Interestingly enough, a couple of these new listings already have offers and/or contracts, which highlights the high levels of demand in the Long Beach Island real estate market. There are 121 active listings in the MLS this week and 63 pending sales. This is the highest inventory level we have seen in some time in 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 08-25-2024 to 9-1-2024, 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
