LBI Real Estate Weekly Sales Update 6/13/2021-6/20/2021
- High Tides Digital Marketing
- Jun 20, 2021
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 6/13/2021-6/20/2021
LBI Real Estate Weekly Sales Update 6/13/2021-6/20/2021: There were a total 57 changes to the Long Beach Island real estate market this week. This is lower than what we have been seeing over the past year, but it seems to be the new normal for weekly activity. 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
15 new listings entered the market with an average price of $2,019,133-Much higher than normal!
22 listings went under contract with an average listing price of about $1,483,434
14 properties sold on Long Beach Island with an average price of $1,385,707
4 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 6/13/2021-6/20/2021
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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 week saw more pending sales than new listings entering the market. This reverses the trend we have been seeing over the past few weeks and it, therefore, makes the market more competitive for buyers. The average price of a new lsiting was much higher this week but much of that had to do with a $7,300,000 oceanfront home coming up for sale. While these sales are no longer an anomaly, they can still skew averages. Without this listing, the average price of new listing is about $1,600,000 which is more in line with the current trend of the LBI real estate market. 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 6/13/2021-6/20/2021 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
