LBI Real Estate Weekly Sales Update 11-3-2024 to 11-10-2024
- High Tides Digital Marketing
- Nov 11, 2024
- 4 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 11-3-2024 to 11-10-2024
LBI Real Estate Weekly Sales Update 11-3-2024 to 11-10-2024: This week's LBI real estate market update showed less overall activity, but a high number of pending sales. The lower overall activity has to do with fewer new listings, and few changes to existing inventory (such as price drops or cancelled listings). 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
6 new listings entered the market with an average price of $2,032,833
8 listings went under contract with an average listing price of about $1,896,000
8 properties sold on Long Beach Island with an average price of $805,675
9 listings saw price reductions in the LBI real estate market
LBI Real Estate Weekly Sales Update 11-3-2024 to 11-10-2024
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), CLOSED means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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.
Last Change Type | MLS # | Address | City | Area | Current Price |
Coming Soon | NJOC2030042 | 120 E Kentucky Ave | Long Beach Township | LBI Real Estate Market | $2,350,000 |
New Active | NJOC2030052 | 20 Amber St #E3 | Beach Haven | LBI Real Estate Market | $649,000 |
New Active | NJOC2029952 | 901 Ocean #926 | Ship Bottom | LBI Real Estate Market | $1,200,000 |
New Active | NJOC2030058 | 162-D Long Beach Blvd | Long Beach Township | LBI Real Estate Market | $1,699,000 |
New Active | NJOC2029994 | 29 W Essex Ave | Harvey Cedars | LBI Real Estate Market | $2,800,000 |
New Active | NJOC2030094 | 278 Riviera Dr | Long Beach Township | LBI Real Estate Market | $3,499,000 |
Back to Active | NJOC2028324 | 2206 Central Ave | Barnegat Light | LBI Real Estate Market | $1,775,000 |
Back to Active | NJOC2028222 | 444 Schoderer Ln | Surf City | LBI Real Estate Market | $2,699,000 |
Price Decrease | NJOC2028782 | 510 N Bay Ave #208 | Beach Haven | LBI Real Estate Market | $865,000 |
Price Decrease | NJOC2029312 | 249 W 17th St | Ship Bottom | LBI Real Estate Market | $1,450,000 |
Price Decrease | NJOC2026554 | 8 W 77th St | Harvey Cedars | LBI Real Estate Market | $1,499,000 |
Price Decrease | NJOC2028408 | 60 W Holly Dr | Long Beach Township | LBI Real Estate Market | $1,699,000 |
Price Decrease | NJOC2027162 | 1 W 29th St | Long Beach Township | LBI Real Estate Market | $1,775,000 |
Price Decrease | NJOC2029354 | 12 E 45th St. | Long Beach Township | LBI Real Estate Market | $2,399,999 |
Price Decrease | NJOC2025956 | 409 Tidal Dr | Long Beach Township | LBI Real Estate Market | $2,599,000 |
Price Decrease | NJOC2026270 | 1 Cox Ave | Harvey Cedars | LBI Real Estate Market | $2,749,999 |
Price Decrease | NJOC2028712 | 322 Beach Plum | Long Beach Township | LBI Real Estate Market | $2,799,999 |
Active Under Contract | NJOC2027440 | 2510 Bayview Ave | Barnegat Light | LBI Real Estate Market | $1,495,000 |
Active Under Contract | NJOC2028862 | 2 E California Avenue #B | Long Beach Township | LBI Real Estate Market | $1,574,999 |
Active Under Contract | NJOC2026786 | 1 E 14th St | Barnegat Light | LBI Real Estate Market | $1,999,000 |
Active Under Contract | NJOC2029724 | 334 Leeward Avenue | Beach Haven | LBI Real Estate Market | $2,500,000 |
Active Under Contract | NJOC2029610 | 334 Leeward Avenue | Beach Haven | LBI Real Estate Market | $2,500,000 |
Pending | NJOC2029286 | 901 Ocean Ave #1ST/914 | Ship Bottom | LBI Real Estate Market | $1,300,000 |
Pending | NJOC2027856 | 2506 Central Ave | Barnegat Light | LBI Real Estate Market | $1,399,999 |
Pending | NJOC2029508 | 184 Nautilus Dr | Long Beach Township | LBI Real Estate Market | $2,399,000 |
Closed | NJOC2022982 | 8501 Long Beach Blvd #10 | Long Beach Township | LBI Real Estate Market | $320,000 |
Closed | NJOC2028622 | 1810 Central Avenue Unit ##11 | Ship Bottom | LBI Real Estate Market | $409,000 |
Closed | NJOC2023196 | 242 W 15th St #1 | Ship Bottom | LBI Real Estate Market | $610,000 |
Closed | NJOC2023214 | 242 W 15th #2 | Ship Bottom | LBI Real Estate Market | $630,000 |
Closed | NJOC2028052 | 201 W 21st St | Ship Bottom | LBI Real Estate Market | $859,000 |
Closed | NJOC2029108 | 101 W 9th St #102 | Ship Bottom | LBI Real Estate Market | $880,000 |
Closed | NJOC2027834 | 9 Olsen Ave | Harvey Cedars | LBI Real Estate Market | $1,225,000 |
Closed | NJOC2026100 | 4 Olsen Ave | Harvey Cedars | LBI Real Estate Market | $1,512,400 |
Temporary Off Market | NJOC2028366 | 166-A Long Beach | Long Beach Township | LBI Real Estate Market | $2,449,000 |
Canceled | NJOC2028206 | 22 E 8 Th St | Barnegat Light | LBI Real Estate Market | $2,499,000 |
Canceled | NJOC2029280 | 1109-B Long Beach Blvd | Long Beach Township | LBI Real Estate Market | $5,599,000 |
Expired | NJOC2027780 | 1900 Virginia Ave | Beach Haven | LBI Real Estate Market | $7,999,000 |
LBI New Jersey Real Estate Sales Analysis
Pending sales outpaced new listings this week, which has been a trend for the past few weeks. There was a surge of inventory and, as expected, that inventory was picked up. One standout of this week's LBI real estate market update was the low average price of sold home. On average, this week's closed sales were just over $800,000 which is a number that we have not seen in years! This has nothing to do with the market as a whole but rather the type of property that closed this week. While 2 single family homes sold, they were modest price points and the 4 condos that sold (2/3rds of the week's total activity) traded at a lower number. That drove down the average price to an artificially low number. There are 125 active listings in the MLS this week and 64 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 11-3-2024 to 11-10-2024, 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
