LBI Real Estate Weekly Sales Update 9/13/2020-9/20/2020
- High Tides Digital Marketing
- Sep 20, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 9/13/2020-9/20/2020
LBI Real Estate Weekly Sales Update 9/13/2020-9/20/2020: After a couple of slower weeks, the sales market on Long Beach Island shot up. This is a pretty normal trend for this time of year. To help understand the dynamics of the LBI real estate market in the age of COVID-19 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
43 new listings entered the market with an average price of $1,410,203
45 listings went under contact with an average listing price of about $1,575,300
23 properties sold on Long Beach Island with an average price of $1,146,110
2 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 9/13/2020-9/20/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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 I mentioned above, the first couple of weeks in September usually slow down as people return to "normal" life. Even in COVID age and with coronavirus being on everyone's minds, September is a transitional month as families settle back into a school routine. The fact that we saw 45 pending sales this week tells you that the market is still firing on all cylinders. One very interesting trend this week were the 13 price reductions. This is a much higher number than usual and could indicate a flattening of prices after a multi-week rise. It is something to track in the coming weeks to see if it truly is a new trend in the LBI real estate 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 9/13/2020-9/20/2020 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
