LBI Real Estate Weekly Sales Update 6/14/2020-6/21/2020
- High Tides Digital Marketing
- Jun 21, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 6/14/2020-6/21/2020
LBI Real Estate Weekly Sales Update 6/14/2020-6/21/2020: Activity in the LBI real estate market picked up this week with 100 changes being made to the MLS. As buyers and sellers continue to react to the impact of a very busy sale market, understanding the current trends are more important than ever. 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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 $1,581,300
32 listings went under contact with an average listing price of about $1,158,581
19 properties sold on Long Beach Island with an average price of $1,030,447
22 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 6/14/2020-6/21/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
Inventory is by far the most significant challenge the LBI real estate market faces at the moment. 41 homes left the market last week by either being withdrawn, expired or going under contract. By contract, only 12 new listings came on the market. To be fair, this is not historically a strong listing season on Long Beach Island, but with buyer activity soaring and inventory at a low point, it is clear that we are in a seller's market. 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 6/14/2020-6/21/2020 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
