For the month of March 2011, the LBI real estate market produced 24 single-family home sales with an average sale price of $931,500. Single-family sales ranged in price from $340,000 to $2,250,000. On average, homes sold for 93.2% of their listing price and spent an average of 245 days on the market. The days on market is noteworthy as it is extremely high when compared to past months. The primary reason for this variation is one listing spent a total of 1,531 days on the market! When you remove this listing from the equation, the average days on market drops to 190. While this number is still high, it is far more in line with past months.