LBI Real Estate Weekly Sales Update 8/2/2020-8/9/2020
- High Tides Digital Marketing
- Aug 13, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 8/2/2020-8/9/2020
LBI Real Estate Weekly Sales Update 8/2/2020-8/9/2020: With 116 changes to the MLS this past week, the Long Beach Island real estate market continues to produce record numbers of sale transactions. 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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 $1,136,587
42 listings went under contact with an average listing price of about $1,265,457
17 properties sold on Long Beach Island with an average price of $1,105,725
10 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 8/2/2020-8/9/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
Once again there was a net loss of inventory this week with 52 listings leaving the market (either pending sales or expired/withdrawn listings) and only 30 new listings coming on the market. This forces the inventory even lower in what currently is a very low inventory environment. A good number of the current "active" listings also have offers or are under contract so the true availability of homes for sale on Long Beach Island is shockingly low. If you are thinking of selling, this is about as good a market as one can expect. If you are looking to buy, be careful. There are opportunities in every market, including this one, but you HAVE TO UNDERSTAND what determines value in the LBI real estate market to avoid a costly mistake. 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 8/2/2020-8/9/2020 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
