LBI Real Estate Weekly Sales Update 8/30/2020-9/6/2020
- High Tides Digital Marketing
- Sep 6, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 8/30/2020-9/6/2020
LBI Real Estate Weekly Sales Update 8/30/2020-9/6/2020: It was another week of strong activity with 128 changes to the MLS, however the nature of the activity changed 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
47 new listings entered the market with an average price of $1,497,762
32 listings went under contact with an average listing price of about $1,537,275
30 properties sold on Long Beach Island with an average price of $1,115,188
15 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 8/30/2020-9/6/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
For the first time in weeks there was a net gain of listings. Fall is historically a strong time for new inventory to come on the market and 2020 did not break that trend. The first week of September saw almost 50 new homes come on the market. That increase is something the LBI real estate market needed. Pending sales and closing sales were still very strong as we have seen for the past few months. There was a little more balance in the activity this week which is a good and healthy thing for Long Beach Island real estate. 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 8/30/2020-9/6/2020 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
