LBI Real Estate Weekly Sales Update 10/25/2020-11/1/2020
- High Tides Digital Marketing
- Nov 1, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 10/25/2020-11/1/2020
Long Beach Island Real Estate
LBI Real Estate Weekly Sales Update 10/25/2020-11/1/2020: Things slowed down a little this week, which to some degree is expected. We are coming into what historically is a slower season in the market. In spite of this, there were still 112 changes to the MLS which is VERY high. 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
15 new listings entered the market with an average price of $1,130,333
41 listings went under contract with an average listing price of about $1,221,083
28 properties sold on Long Beach Island with an average price of $1,212,386
118 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 10/25/2020-11/1/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
The market still showed a tremendous number of pending sales, which is remarkable given this is the week of the election! One stat that has been increasing is the number of homes that have failed to sell. This can be tracked by expired, withdrawn, and price reductions in the market. These have been slowing increasing which tells us the market may be reaching a peak, at least for now. 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 10/25/2020-11/1/2020 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
