LBI Real Estate Weekly Sales Update 12/13/2020-12/20/2020
- High Tides Digital Marketing
- Dec 20, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 12/13/2020-12/20/2020
Long Beach Island Real Estate
LBI Real Estate Weekly Sales Update 12/13/2020-12/20/2020: There were a total 66 changes to the Long Beach Island real estate market this week. This represents a significant drop off in transactions compared to past weeks. 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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 $1,151,647
15 listings went under contract with an average listing price of about $1,377,053
27 properties sold on Long Beach Island with an average price of $1,368,404
19 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 12/13/2020-12/20/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
Things have clearly slowed down in the LBI real estate market but there is no cause for alarm yet. This time of year is always slow. There is still a large body of evidence to support the strength of the LBI real estate market and this centers around the number of active listings vs pending sales. As you can see from the above data, there were 15 new listings and 15 pending sales. Demand has not waned and we are still seeing the same ratios of new and sold homes as we have seen over the past several months. It is worth noting that an additional 9 homes left the market in addition to the 15 pending sales so there was once again a net loss of inventory. So long as this continues, the market will rise. 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 12/13/2020-12/20/2020 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
