LBI Real Estate Weekly Sales Update 9/6/2020-9/13/2020
- High Tides Digital Marketing
- Sep 15, 2020
- 2 min read
Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 9/6/2020-9/13/2020
LBI Real Estate Weekly Sales Update 9/6/2020-9/13/2020: There were a total 100 changes to the Long Beach Island real estate market this week. This represents a significant drop off in transactions compared to past weeks. This is not uncommon for this time of year as families adjust to a new school routine, something made even hard in the age 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 You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame.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:
33 new listings entered the market with an average price of $1,593,691
21 listings went under contact with an average listing price of about $1,247,400
27 properties sold on Long Beach Island with an average price of $1,353,713
4 listings were either withdrawn of expired in the LBI real estate market
LBI Real Estate Weekly Sales Update 9/6/2020-9/13/2020
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PENDING or ACTIVE UNDER CONTRACT means the property is under contract (pending), "C" means the property sold and WITHDRAWN, CANCELED or EXPIRED means the property failed to sell or was a duplicate listing.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
Roughly a third of the week's activity was in the form of new listings. This is GREAT news for the LBI real estate market which has been suffering from historically low inventory levels. There were a good number of closings this week as well. For the second week in a row, new listings outpaced pending sales resulting in a new inventory gain. Overall, the LBI real estate market is doing very well and shows little sign of slowing down. 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 9/6/2020-9/13/2020 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
