LBI Real Estate Weekly Sales Update 12/6/2020-12/13/2020
- High Tides Digital Marketing
- Dec 13, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 12/6/2020-12/13/2020
Long Beach Island Real Estate
LBI Real Estate Weekly Sales Update 12/6/2020-12/13/2020: Overall market activity dropped off considerably this week to levels not seen since the start of COVID-19. There were a total of 79 changes to the MLS which is more or less "normal" for Long Beach Island. 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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 $2,042,223 (driven higher by 2 new oceanfront listings, one of which is $9,000,000!)
25 listings went under contract with an average listing price of about $1,256,431
18 properties sold on Long Beach Island with an average price of $849,967
8 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 12/6/2020-12/13/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
While activity has dropped off, interest in the LBI real estate market remains VERY high. Personally, I attribute this slowdown to the time of year. The holiday season is always a slower time of year for home sales in the Long Beach Island real estate market. Inventory is still low, demand is still high and interest rates are high incentivizing. Provided these trends remain, the market shows no sign of a slowdown. 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 12/6/2020-12/13/2020 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
