LBI Real Estate Weekly Sales Update 4/4/2021-4/11/2021
- Apr 11, 2021
- 4 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 4/4/2021-4/11/2021
LBI Real Estate Weekly Sales Update 4/4/2021-4/11/2021: With just over 50 changes to the MLS this week on Long Beach Island, market activity dropped off quite a bit. This is not entirely unexpected. With fewer and fewer homes for sale, market activity will slow down. 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
19 new listings entered the market with an average price of $1,664,700
13 listings went under contract with an average listing price of about $1,514,377
10 properties sold on Long Beach Island with an average price of $1,021,500
8 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 4/4/2021-4/11/2021
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
This was the first time in MONTHS that more homes were listed for sale than went under contract in the LBI real estate market. While this is a welcomed change for buyers, this trend will need to be the norm for a long time to correct the imbalance of inventory between buyers and sellers. Furthermore, several of these new listings already have offers on them. Competition remains very high on Long Beach Island!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 4/4/2021-4/11/2021 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
