LBI Real Estate Weekly Sales Update 9/27-2020-10/4/2020
- High Tides Digital Marketing
- Oct 4, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 9/27-2020-10/4/2020
LBI Real Estate Weekly Sales Update 9/27-2020-10/4/2020: It was a very busy week in the Long Beach Island NJ real estate market. There was a grand total of 143 changes to the MLS and this activity was spread across all categories of the market. 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 You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
37 new listings entered the market with an average price of $1,164,243
135 listings went under contract with an average listing price of about $1,297,494
37 properties sold on Long Beach Island with an average price of $1,285,388
19 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 9/27-2020-10/4/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
There was a net gain in new listings this week (by 2 homes) meaning more new inventory came on the market than went under contract. Still, the market is starved for inventory and competition is high among buyers. Currently, there are less than 200 properties for sale in the LBI real estate market which is a shockingly low number. For more information about buying, selling, or investing in the Long Beach Island real estate market or about LBI NJ Real Estate Weekly Sales Update 9/27-2020-10/4/2020 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
