LBI Real Estate Weekly Sales Update 7/26/2020-8/2/2020
- High Tides Digital Marketing
- Aug 2, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 7/26/2020-8/2/2020
LBI Real Estate Weekly Sales Update 7/26/2020-8/2/2020: We are now half way though Summer on LBI and while things have been pretty normal here, the LBI real estate market has been anything but normal. Activity continues to soar with 127 changes to the MLS this week alone and the impacts of COVID are apparent in buying behavior. 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
27 new listings entered the market with an average price of $1,398,511
43 listings went under contact with an average listing price of about $1,319,019
21 properties sold on Long Beach Island with an average price of $1,108,450
13 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 7/26/2020-8/2/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
With a total of 43 pending sales in the Long Beach Island real estate market, it is safe to say buyers are active. COVID continues to be on the minds of buyers and there is little doubt that is the driving force being this activity. The market changes each week seem to be dominated by pending sales, closed sales and new listings. Expired listings have dropped showing how much of the inventory is being absorbed. Buyers have to be VERY CAREFUL in this environment and take care to not overpay for a home. 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 7/26/2020-8/2/2020 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
