LBI Real Estate Weekly Sales Update 7/25/2021-8/1/2021
- Aug 4, 2021
- 5 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 7/25/2021-8/1/2021
LBI Real Estate Weekly Sales Update 7/25/2021-8/1/2021: There were a total 72 changes to the Long Beach Island real estate market this week. ALmost a third of this activity was in the form of new listings. This is great news for buyers in the LBI real estate market! 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
23 new listings entered the market with an average price of $1,740,730
17 listings went under contract with an average listing price of about $1,821,759
13 properties sold on Long Beach Island with an average price of $1,235,269
9 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 7/25/2021-8/1/2021
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
The increase in inventory is largely expected for this time of year. Fall is always a busy time for new homes to come on the market and the middle of summer is a less than ideal time to buy a home. This leads to a natural increase in the availability of homes for sale on Long Beach Island. It will be interesting to see if this trend accelerates into the fall. If a significant number of homes come on the market, that could start to impact prices. Likewise, the increase in COVID cases could lead to another surge in buying on LBI that could eliminate the gains in the inventory. Time will tell! 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 7/25/2021-8/1/2021 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
