Three Reasons LBI Real Estate Should Have a Strong Spring
- High Tides Digital Marketing
- Apr 30, 2019
- 2 min read
Long Beach Island NJ (LBI NJ) Real Estate Market Spring Sales Market
Long Beach Island Real Estate
The Long Beach Island real estate market started off rather slow in 2019 but picked up notably in the Spring market. March and especially April showed a increase in the number of sales and the average sales price. Compared to 2018, April 2019 actually beat last year's numbers! Specifically there are Three Reasons LBI Real Estate Should Have a Strong Spring. Some are local trends and some are national trends but all together they make a strong case to buy a home in the Long Beach Island real estate market.
Three Reasons LBI Real Estate Should Have a Strong Spring
As I mentioned above, there are three reasons that the LBI real estate market is performing well this year (and beating past years). They are:
Inventory levels have increased
Interest rates are still low
Overall economic data is still strong
On the local level we have seen an increase in the number of homes for sale. While still low, having more inventory and more homes for sale in the LBI real estate market leads to increased sales numbers. While the LBI real estate market is not as sensitive to interest rates as a primary market, it is still something that buyers track (and rightly so). Interest rates remain low and the likelihood of increases in the next few months seems slim. That can help buyers see the benefit in buying a home now and retaining a lower cost of ownership. Lastly the overall economic situation in the country is strong right now. This can lead to some extra discretionary spending especially in the second home market.
Buying a Home in the LBI Real Estate Market
Buying a home in the LBI real estate market is a big investment. It is one that should be timed to ensure you are not overpaying for a home, either in the short or the long run. I can help you understand where the market is and where it may be heading. I track LBI real estate sales on my website in both broad market data and area specific trends. All together where there are some signs of things slowing down slightly, buyer confidence and the Long Beach Island real estate market as a whole are still very positive. If you have any questions about buying, selling or investing in the LBI real estate market please do not hesitate to contact me.
By : Nathan Colmer, Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
