LBI Real Estate Weekly Sales Update 8/9/2020-8/16/2020
- High Tides Digital Marketing
- Aug 16, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 8/9/2020-8/16/2020
LBI Real Estate Weekly Sales Update 8/9/2020-8/16/2020: Once again the Long Beach Island real estate market posted impressive sales figures in spite of coronavirus. 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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 $1,145,153
43 listings went under contact with an average listing price of about $1,290,851
22 properties sold on Long Beach Island with an average price of $1,179,870
10 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 8/9/2020-8/16/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
As we are seeing in many other real estate markets, home sales on Long Beach Island are at an all time high point. 43 pending sales in a week is a massive amount of real estate to transact. Buyers are having a hard time finding inventory which is highlights by the fact only 27 new listings came on the market (and many of them already have offers). My advice to buyers is to hang in there, I think it will slow down in the next few weeks/months and we will see more inventory come along. Look for the right opportunity and be ready to act FAST when it comes along. 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 8/9/2020-8/16/2020 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
