The LBI Real Estate Market

August 2012 Sales on LBI

For the month of August 2012, the LBI real estate market showed some increased activity! A total of 39 properties sold on Long Beach Island NJ for the month of August. The sales are broken down as follows:

Single Family Homes:

• 32 Sold

• Average Price: $1,006,528

• Days on Market: 137

• % of Listing Price: 94%

Condos:

• 5 Sold

• Average Price: $315,000

• Days on Market: 163

• % of Listing Price: 92%

Duplexes:

• 2 Sold

• Average Price: $413,500

• Days on Market: 72

• % of Listing Price: 94%

August 2012 demonstrated the continued improvement in the LBI real estate market. Compared to August 2011, the average price of a single family home was up almost $250,000 and nearly three times as many homes sold!! In August 2011, the average single family home price was $763,000 and only 11 homes sold so it is easy to see what a dramatic difference 2012 has created. Typically, September and October are ideal times to buy real estate on Long Beach Island as we see a surge in inventory and more motivation on the part of sellers who have had their house on the market for the summer and been unable to sell it. It will be interesting to see how September and October fair in the real estate market! 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