For the month of July the LBI real estate market showed some slowing down which is to be expected during the summer months. Total sales reported consisted of 27 single family homes sold, 2 condos and 4 duplexes. The average price of a single-family home on Long Beach Island NJ in July was $897,549. On average, these homes spent 127 days on the market and sold for 93.1% of their listing price. Condo sales were less representative of the market as a whole with one of the two July sales trading for only $80,000 (for the record, that is not a typo. There really are condos that sell for $80,000 on LBI!). As a result, the average sale price of a condo in July was $197,500. Condos sold for 83.3% of their listing price and spent an average of 240 days on the market. Duplexes faired better with 4 sales and an average price of $463,750. Duplexes sold for 94.1% of their listing price and sold in an average of 105 days.
Despite being slower than May or June, there were still a total of 29 sales on Long Beach Island for a total of $23,011,524 worth of real estate. Summer typically will slow down due to the difficulty that ensues with showing houses that are rented so as the summer passes and we enter into the fall market, the numbers should start to increase again. You can view the listing sheets for all sold single-family homes, condos and duplexes on LBI by following the enclosed link: http://buylbi.com/monthlysales.htm
Author:Nathan Colmer Phone: 609-290-4293 Dated: August 6th 2012 Views: 3,363 About Nathan: ...
View our latest blog posts in your RSS reader. Click here to access.
Oceanfront Sales in the Long Beach Island NJ Real Estate MarketLong Be
"Just a note to close the loop on your recommendation to use Nathan Colmer for LBI real estate. We just settled on a house in Harvey Cedars and could not be happier. Throughout the entire process Nathan was the consummate professional. We found him to be engaging, knowledgeable and very responsive. Nathan was there every step of the way, was happy to answer all of our questions and he even went out of his way to make a final inspection of the property that we needed to complete closing. Simply stated, he is the best real estate agent we have had the pleasure of working with over the years, and that includes six prior transactions"