LBI Real Estate Weekly Sales Update 7/5/2020-7/12/2020
- High Tides Digital Marketing
- Jul 15, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 7/5/2020-7/12/2020
LBI Real Estate Weekly Sales Update 7/5/2020-7/12/2020: The unprecedented activity levels in the Long Beach Island real estate market continued this week with nearlyl 40 pending sales (that is not a typo...almost 40 pending sales in a single 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
30 new listings entered the market with an average price of $1,225,390
38 listings went under contact with an average listing price of about $1,108,384
16 properties sold on Long Beach Island with an average price of $1,471,344
11 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 7/5/2020-7/12/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
While the overall number of changes to the MLS dropped slightly this week, pending sales, new listings and closed sales all showed impressive numbers. Buyers continue to struggle with low inventory and for any who were in doubt, we are in a seller's market though and though. There are opportunities in any market but unless something really makes sense, buyers may wish to consider holding off until the fall when we usually see more inventory come on the 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 7/5/2020-7/12/2020 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
