LBI Real Estate Weekly Sales Update 6/21/2020-6/28/2020
- High Tides Digital Marketing
- Jun 28, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 6/21/2020-6/28/2020
LBI Real Estate Weekly Sales Update 6/21/2020-6/28/2020: The Long Beach Island real estate market is on fire. There is no other way to put it. There were 122 changes to the MLS this week, many of them pending sales and new listings. There were as many pending sales this week alone as we typically see in a month! 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
39 new listings entered the market with an average price of $1,415,044
46 listings went under contact with an average listing price of about $1,292,304
16 properties sold on Long Beach Island with an average price of $1,067,188
11 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 6/21/2020-6/28/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
There is no doubt that we are currently in a seller's market. Many listings have multiple bids and are trading higher than listing price. Buyers, now more than every, have to understand what drives value and make sure the purchase is sound. If you are thinking of selling your home on Long Beach Island, this may be the opportunity you have been waiting for. Inventory levels are very low and with a total of 57 homes leaving the market and only 39 new listings coming on, the low levels will continue to fall. 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 6/21/2020-6/28/2020 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
