LBI Real Estate Weekly Sales Update 11/6/2022-11/13/2022
- High Tides Digital Marketing
- Nov 13, 2022
- 4 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 11/6/2022-11/13/2022
LBI Real Estate Weekly Sales Update 11/6/2022-11/13/2022: It was a very quiet week in the LBI real estate sales market. There were only 34 changes to the MLS. While this is much less than we typically see, November and December tend to be slower months in the market. 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
8 new listings entered the market with an average price of $1,556,700
5 listings went under contract with an average listing price of about $1,414,600
10 properties sold on Long Beach Island with an average price of $1,347,458
10 listings saw price reductions in the LBI real estate market
LBI Real Estate Weekly Sales Update 11/6/2022-11/13/2022
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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.
Last Change Type | MLS # | Address | City | Area | Current Price – Decimal |
New Active | NJOC2013846 | 1402 Central Ave #A | Ship Bottom | LBI | $525,000 |
New Active | NJOC2014668 | 11902 Long Beach | Long Beach Township | LBI | $1,299,000 |
New Active | NJOC2014652 | 7 W 51st | Long Beach Township | LBI | $1,399,000 |
New Active | NJOC2014654 | 604 N Atlantic Ave | Beach Haven | LBI | $1,449,000 |
New Active | NJOC2014696 | 17 E 29th | Long Beach Township | LBI | $1,449,000 |
New Active | NJOC2014682 | 130 Taylor Ave | Beach Haven | LBI | $1,499,000 |
New Active | NJOC2014674 | 83 W Tebco #C | Long Beach Township | LBI | $2,149,000 |
New Active | NJOC2014716 | 138-A Long Beach Boulevard | Long Beach Township | LBI | $2,200,000 |
Price Decrease | NJOC2012412 | 505 Dock Rd #EAST SIDE | Beach Haven | LBI | $2,500 |
Price Decrease | NJOC2014034 | 237 W 7th St | Ship Bottom | LBI | $769,000 |
Price Decrease | NJOC2011644 | 12 E Delaware Ave | Long Beach Township | LBI | $2,299,000 |
Price Decrease | NJOC2010740 | 12 E Delaware Ave | Long Beach Township | LBI | $2,299,000 |
Price Decrease | NJOC2010380 | 4410 Gloucester Ave | Long Beach Township | LBI | $2,499,000 |
Price Decrease | NJOC2013204 | 13 E Middlesex Ave | Harvey Cedars | LBI | $2,895,000 |
Price Decrease | NJOC2013158 | 5 W S 32nd | Long Beach Township | LBI | $3,795,000 |
Active Under Contract | NJOC2014028 | 375 W 6th St | Ship Bottom | LBI | $799,999 |
Active Under Contract | NJOC2014026 | 375 W 6th St | Ship Bottom | LBI | $799,999 |
Active Under Contract | NJOC2014440 | 6 86th St | Long Beach Township | LBI | $1,825,000 |
Pending | NJOC2009436 | 29 Bayberry | Long Beach Township | LBI | $1,049,000 |
Pending | NJOC2014528 | 32 N 14th St | Surf City | LBI | $2,599,000 |
Closed | NJOC2013014 | 23 N 10th St | Surf City | LBI | $6,750 |
Closed | NJOC2012150 | 1412 A Long Beach Blvd #A | Long Beach Township | LBI | $665,000 |
Closed | NJOC2013542 | 901 Ocean Ave #919 | Ship Bottom | LBI | $776,500 |
Closed | NJOC2012210 | 235 W 13th St | Ship Bottom | LBI | $806,325 |
Closed | NJOC2012032 | 20 Pearl St #17 | Beach Haven | LBI | $1,075,000 |
Closed | NJOC2012882 | 15 E New York Ave | Long Beach Township | LBI | $1,125,000 |
Closed | NJOC2004794 | 203 Berkeley Ave | Beach Haven | LBI | $1,370,000 |
Closed | NJOC2012244 | 450 Engleside Ave | Beach Haven | LBI | $2,100,000 |
Closed | NJOC2013198 | 8004 Bay Ter | Harvey Cedars | LBI | $2,200,000 |
Closed | NJOC2014694 | 1093-C Long Beach Blvd | Long Beach Township | LBI | $3,350,000 |
Withdrawn | NJOC2008428 | 83 W Tebco #D | Long Beach Township | LBI | $2,149,000 |
Withdrawn | NJOC2008422 | 83 W Tebco #C | Long Beach Township | LBI | $2,149,000 |
Expired | NJOC2007950 | 1 East 68th St | Harvey Cedars | LBI | $1,525,000 |
Expired | NJOC2006078 | 6808 Kent Pl | Harvey Cedars | LBI | $3,995,000 |
LBI New Jersey Real Estate Sales Analysis
The LBI real estate market continued on its new course of balance this week. There were once again more new listings than pending sales, but only by a few units. Overall, activity was spread across the Long Beach Island market evenly. The biggest standout this week, and in weeks past, was the high number of price drops. There is no doubt that the market can no longer be pressed as it once was, and most of these price drops were from homes who priced higher than they should have initially. in the coming weeks and months we will be able to draw some data to see how much the market has dropped, if at all, based on closed and pending sales. There are 145 active listings in the MLS this week and 75 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 11/6/2022-11/13/2022 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
