LBI Real Estate Weekly Sales Update 3/16/2020-3/22/2020
- Mar 23, 2020
- 6 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 3/16/2020-3/22/2020
LBI Real Estate Weekly Sales Update 3/16/2020-3/22/2020: There were a total 103 changes to the Long Beach Island real estate market-a marked uptick in activity from last week's sale transactions! 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
33 new listings entered the market with an average price of $913,891
19 listings went under contact with an average listing price of about $710,995
12 properties sold on Long Beach Island with an average price of $841,917
15 listings were either withdrawn of expired in the LBI real estate market and 5 came back on the market
LBI Real Estate Weekly Sales Update 3/16/2020-3/22/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
Compared to last week, we saw more overall activity this week. There were 11 more new listings, 5 more pending sales and 3 more closings this week. This is a good sign for the health of the LBI real estate market. The same number of homes (5) came back on the market this week as compared to last week. While this is a little higher than I would like to see, it is also not in of itself alarming. As the weeks go on and the world fights the coronavirus, we shall see how the market reacts. For more information about buying, selling or investment in the Long Beach Island real estate market or about LBI NJ Real Estate Weekly Sales Update 3/16/2020-3/22/2020 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
