LBI Real Estate Weekly Sales Update 4/19/2020-4/26/2020
- Apr 26, 2020
- 5 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 4/19/2020-4/26/2020
LBI Real Estate Weekly Sales Update 4/19/2020-4/26/2020: There were a total 68 changes to the Long Beach Island real estate market this week. Market activity has been increasing over the past few weeks. That said, t it is important to note that it still lags behind the levels we saw prior to coronavirus or COVID-19. Still, improvement is a good indication of the confidence buyers have in the Long Beach Island real estate 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
7 new listings entered the market with an average price of $1,261,822
11 listings went under contact with an average listing price of $977,536
21 properties sold on Long Beach Island with an average price of $925,190
15 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 4/19/2020-4/26/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
There were a lot of closings this week. It is important to note that a closing most likely originated between 45 and 60 days before this week so these are sales that would have originated at the beginning of coronavirus. We are starting to see some easing of restrictions on Long Beach Island and more businesses opening up in a limited capacity so for the moment, things are looking better for Summer 2020. These next few weeks will be critical for us all. Stay safe and be well. For more information about buying, selling or investment in the Long Beach Island real estate market or about LBI Real Estate Weekly Sales Update 4/19/2020-4/26/2020 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
