LBI Real Estate Weekly Sales Update 3/30/2020-4/5/2020
- High Tides Digital Marketing
- Apr 5, 2020
- 5 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 3/30/2020-4/5/2020
LBI Real Estate Weekly Sales Update 3/30/2020-4/5/2020: The LBI real estate market saw a drop off in activity this week. There were only 65 changes to the MLS and a great many of these were expired listings (something very common on the first of the month). There were also a number of homes that came back on the market, presumably due to coronavirus, as well as several listings that were taken off the market. Losing listings is a serious problem for the market as inventory levels are already low. 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
6 new listings entered the market with an average price of $1,330,983
7 listings went under contact with an average listing price of about $830,400
22 properties sold on Long Beach Island with an average price of $913,501
20 listings were either withdrawn of expired in the LBI real estate market
7 properties came back on the market this week
LBI Real Estate Weekly Sales Update 3/30/2020-4/5/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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.
Last Change Type | Cat | Address | City | Price |
Coming Soon | RES | 428 5th St | Beach Haven | $1,289,000 |
New Active | RES | 8102 Long Beach Blvd | Harvey Cedars | $529,000 |
New Active | RES | 17 W Washington | Long Beach Township | $699,900 |
New Active | RES | 44 Division Ave | Surf City | $969,000 |
New Active | RES | 12 E 77th St | Harvey Cedars | $1,499,000 |
New Active | RES | 11 Lincoln Ave | Long Beach Township | $3,000,000 |
Back to Active | RES | 44 Division Ave #A | Surf City | $479,000 |
Back to Active | RES | 44 Division Ave #B | Surf City | $499,000 |
Back to Active | MUL | 3 E 6th St | Barnegat Light | $599,000 |
Back to Active | RES | 1040-D Long Beach Blvd | Long Beach Township | $919,000 |
Back to Active | RES | 21 E Oceanview Ave | Long Beach Township | $1,450,000 |
Back to Active | RES | 2302 Bayview Ave | Barnegat Light | $1,499,000 |
Back to Active | RES | 277 W 27th St | Ship Bottom | $2,699,000 |
Price Decrease | RES | 280 N 15th St | Surf City | $599,000 |
Price Decrease | RES | 271 Pompano Dr | Long Beach Township | $1,349,000 |
Price Decrease | RES | 1038 Long Beach Blvd #G | Long Beach Township | $3,175,000 |
Active Under Contract | COM | 511 N Bay Ave | Beach Haven | $949,000 |
Active Under Contract | RES | 256 Pompano Dr | Long Beach Township | $1,395,000 |
Pending | RES | 9 W Carolina #2 | Long Beach Township | $415,000 |
Pending | RES | 309 W 4th St | Ship Bottom | $649,900 |
Pending | RES | 25 E 65th Sigsbee Ave | Long Beach Township | $725,000 |
Pending | RES | 2 E California Ave./100th St. #A/WEST UNIT | Long Beach Township | $779,900 |
Pending | RES | 11 E 9th St | Barnegat Light | $899,000 |
Closed | RES | 8317 Long Beach Blvd #1 | Long Beach Township | $379,000 |
Closed | RES | 310 S West Ave #1D | Beach Haven | $423,000 |
Closed | RES | 5517 West Ave | Long Beach Township | $460,000 |
Closed | RES | 213 W 13th St | Ship Bottom | $530,000 |
Closed | RES | 5 E Louisiana Ave | Long Beach Township | $675,000 |
Closed | RES | 30 W 5th St #16 | Barnegat Light | $687,000 |
Closed | RES | 413 N Barnegat Ave | Surf City | $702,000 |
Closed | RES | 113 E Delaware Ave | Long Beach Township | $741,000 |
Closed | RES | 804 E Bay Club Ln | Beach Haven | $765,000 |
Closed | RES | 2009 S Bay Ave | Beach Haven | $775,000 |
Closed | RES | 104 W Ohio | Long Beach Township | $787,128 |
Closed | RES | 5513 Holly Ave | Harvey Cedars | $792,000 |
Closed | RES | 11 E Lillie Ave | Long Beach Township | $799,900 |
Closed | RES | 11 W Essex Ave | Harvey Cedars | $838,500 |
Closed | RES | 6605 Long Beach Blvd | Harvey Cedars | $980,000 |
Closed | RES | 105 E 16th St #B | Ship Bottom | $1,020,000 |
Closed | RES | 306 N 4th St | Surf City | $1,075,000 |
Closed | RES | 6 W Roosevelt Ave | Long Beach Township | $1,175,000 |
Closed | RES | 12 E Essex Ave #B | Harvey Cedars | $1,250,000 |
Closed | RES | 3005 Beach | Long Beach Township | $1,262,500 |
Closed | RES | 34 W New York Ave | Long Beach Township | $1,880,000 |
Closed | RES | 15 W Mears Ave | Long Beach Township | $2,100,000 |
Withdrawn | RES | 511 N Bay Ave | Beach Haven | $949,000 |
Withdrawn | RES | 55 Bayview Ave | Long Beach Township | $999,000 |
Withdrawn | RES | 12 E E 77th. St. St E | Harvey Cedars | $1,499,000 |
Withdrawn | RES | 4 Idaho Ave E | Long Beach Township | $2,169,000 |
Withdrawn | RES | 1027-C Long Beach Blvd | Long Beach Township | $4,100,000 |
Expired | RES | 7700 Long Beach Blvd. #B | Long Beach Township | $339,000 |
Expired | LAND | 368 W 7th St | Ship Bottom | $450,000 |
Expired | RES | 202 W 17 St | Ship Bottom | $549,999 |
Expired | RES | 17 W Washington | Long Beach Township | $699,900 |
Expired | RES | 22 E 49th St #A | Long Beach Township | $997,000 |
Expired | RES | 105 E 16th St #B | Ship Bottom | $1,075,000 |
Expired | RES | 1079-B Long Beach Boulevard #B | Long Beach Township | $1,269,000 |
Expired | MUL | 1079-B Long Beach Boulevard | Long Beach Township | $1,269,000 |
Expired | RES | 29 N 4th St | Surf City | $1,385,000 |
Expired | COM | 305 N Bay Ave | Beach Haven | $1,399,000 |
Expired | RES | 262 W 15th St | Ship Bottom | $1,600,000 |
Expired | RES | 215 Nautilus Dr | Long Beach Township | $1,795,000 |
Expired | RES | 51 Holly Dr W | Long Beach Township | $2,349,000 |
Expired | RES | 14 E 84th St | Harvey Cedars | $2,495,000 |
Expired | RES | 127d Long Beach Blvd | Long Beach Township | $2,995,000 |
LBI New Jersey Real Estate Sales Analysis
There were a high number of closings this week which is a good thing, but it is important to remember that these deals originated 30-60 days ago in most cases. This was well before coronavirus took serious hold in the United States. Therefore the impact of coronavirus has yet to register. While I still believe the impact will be short term only, the effects of this global tragedy are unmistakable. The number of new listings coming on the market was very low and roughly a third of this week's activity were homes leaving the market. In time this will pass and but for now, we have to focus on staying safe and getting ready for opportunities in the LBI real estate market when they present themselves. For more information about buying, selling or investment in the Long Beach Island real estate market or about LBI Real Estate Weekly Sales Update 3/30/2020-4/5/2020 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
