LBI Real Estate Weekly Sales Update 5/31/2020-6/7/2020
- High Tides Digital Marketing
- Jun 9, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 5/31/2020-6/7/2020
LBI Real Estate Weekly Sales Update 5/31/2020-6/7/2020: The LBI real estate market showed another increase in activity this week. The market has been VERY busy on Long Beach Island for both sales and rentals. 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
21 new listings entered the market with an average price of $1,389,224
21 listings went under contact with an average listing price of about $1,247,229
11 properties sold on Long Beach Island with an average price of $978,455
27 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 5/31/2020-6/7/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
While last week's pending sales were much higher, 21 homes going under contract in a single week is still a significant amount of activity. Furthermore, the number of new listings increased this week. The addition of new listings is a big help given the lack of inventory for sale on Long Beach Island. While the world is still taking things one day at a time, for the moment the LBI real estate market is doing exceptionally well. 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 5/31/2020-6/7/2020 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
