LBI Real Estate Weekly Sales Update 5/24/2020-5/31/2020
- High Tides Digital Marketing
- May 31, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 5/24/2020-5/31/2020
LBI Real Estate Weekly Sales Update 5/24/2020-5/31/2020: There were 93 changes to the LBI NJ real estate market this week. Once again, we have seen a notable increase in market activity. After several consecutive weeks of increased activity and a massive jump in pending sales, it is fair to say that, at least right now, the LBI real estate market is doing VERY well. 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
12 new listings entered the market with an average price of $1,643,708
38 listings went under contact with an average listing price of about $1,246,503
13 properties sold on Long Beach Island with an average price of $798,000
12 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 5/24/2020-5/31/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
You read that correctly. There were 38 pending sales in the LBI real estate market this week. This is a massive amount of activity and a clear sign that buyers are confident about the future of the real estate market on Long Beach Island. Prices are holding steady and there was even a pending sale (my listing) for $6,000,000 in The Dunes section of Long Beach Township. 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 5/24/2020-5/31/2020 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
