August Sales on LBI

Dated: 09/02/2011

Views: 4674

The month of August saw a significant drop in closings on LBI which is to be expected for this time of year. For the month of August 2011, there were only 11 single family homes sold with an average price of $763,650. These homes sold for a higher percentage of their asking price on average (94% with two homes selling for full price and one home selling for 99%) and the homes sold far faster with an average time on market of only 110 days. There were also 2 condos and 1 multi family home sold in August 2011 on LBI. As I mentioned above, August is normally a sold time on LBI for real estate closings. In fact, last August there were only 7 single family homes sold so there is actually quite an increase when compared to last year. It is interesting to note that there was only one sale over the $1 million figure in August while the majority of the closings were in the $500,000 range. Now that the summer has passed, we should start to see some new listings enter the market and properties currently listed for sale will most likely begin to see some price reductions. On a side note, LBI faired very well through Hurricane Irene. There was almost no damage to the Island the only minor flooding along the main road. LBI is open and ready for a busy Labor Day weekend!

Latest Blog Posts

Memorial Day Parade

Come join us for a day celebrating all those who have given so much to our country. Those who served and those who held the home and family together while you did! We thank you!Please join us for

Read More

LBI Corvette Show

The annual Corvette show is coming to LBI on June 9th! Come and enjoy! Bring your own car or your dreams and spend a great day on the island!#corvetteowners #lbiadventures

Read More

Hot Sauce Recipes Great For Memorial Day Barbecues

Ok the hot sauce recipes ideas are coming in. Be sure send me yours and I will re-post!This one is easy and delicious! Feel free to substitute your hot sauce of choice!Courtesy of Frank's Red

Read More

Local Entertainment And Events Calendar

Here's a link to find out what entertainment is showing within 100 miles of Manahawkin. You can also choose a date. Just copy and paste this link into your address bar -- enjoy!  ;

Read More