LBI Real Estate Weekly Sales Update 6/28/2020-7/5/2020
- High Tides Digital Marketing
- Jul 5, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 6/28/2020-7/5/2020
LBI Real Estate Weekly Sales Update 6/28/2020-7/5/2020: It was another very active week in the LBI real estate market. There were 129 changes to the sale market this week. 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
26 new listings entered the market with an average price of $1,458,612
29 listings went under contact with an average listing price of about $1,158,652
28 properties sold on Long Beach Island with an average price of $1,123,304
24 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 6/28/2020-7/5/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
This week's activity showed an almost perfect balance. The number of new homes, pending sales, closings and expired/withdrawn listings were almost identical. This is a departure from what we have been seeing in the past few weeks with a disproportionate number of pending sales and not many new listings. It is worth mentioning that the pending sales were still VERY high this week compared to historical averages. 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 6/28/2020-7/5/2020 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
