LBI Real Estate Weekly Sales Update 10/2/2022-10/9/2022
- Oct 10, 2022
- 4 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 10/2/2022-10/9/2022
LBI Real Estate Weekly Sales Update 10/2/2022-10/9/2022: There were only 46changes to the Long Beach Island real estate market this week, which is about average for this time of year. 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
13 new listings entered the market with an average price of $2,595,300
11 listings went under contract with an average listing price of about $1,997,600
8 properties sold on Long Beach Island with an average price of $1,444,700
9 listings saw price reductions in the LBI real estate market
LBI Real Estate Weekly Sales Update 10/2/2022-10/9/2022
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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 (08008) Sales Analysis
Overall the LBI real estate market active was farley balanced, but there was a net increase in the number of homes for sale. The most interesting statistic this week has to do with price reductions. There were a total of 9 price drops, which is a significant number for our market. As we move into a more balanced market, sellers will have to be more mindful of their listing price and be realistic about the value of their home. There are 128 active listings in the MLS this week and 85pending sales. Inventory is still WELL below a "normal" number of homes for sale on Long Beach Island. 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 10/2/2022-10/9/2022 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
