LBI Market Statistics
LBI Market Data from 2005 to Current
(Data below is based on the LBI single family market)
|Units Sold||Average Sales Price||New Listings||Average DOM||Sold as % of List Price|
Comparison of 2Q YTD 2019 to 2018
The number of units closed is bit less in 2019 than for the same time period in 2018. Buyer activity continues to be high so it is very possible the closed sales will match 2018 shortly. The average sales price continues to increase, inventory continues to be low and the market still tilts more to the seller.
2018 Year End Analysis
The first quarter started off strong, mainly due to the high activity levels of the last quarter of 2017. By 2nd Quarter, the pace of sales slowed down a bit and and our Average Sales Price held steady. Inventory levels continue to be lower than normal. Our pending inventory coming into the year was lower than usual, which most likely will translate into a slower 1st Quarter of 2019.
2017 Year End Analysis
The Market continued at a brisk pace throughout the year. Inventory was low and activity levels were high creating an even smaller inventory of homes. Prices climbed and will continue to do so if the supply continues to lag behind the demand. The new Tax Reform will the item to watch in 2018 as well as the continuous ‘show’ in Washington, DC.
2016 Year End Analysis
Buyer activity has been impressive all year long. 2016 ended with a higher number of units closed than 2015. This is putting pressure on inventory which is running a bit behind normal levels. Days on market decreased slightly and % of final list price to sale ratio is staying roughly at 95%. All points toward a healthy market as we head into 2017.
2015 Year End Analysis
LBI experienced one of the coldest winters on record as well as our surrounding area. This weather put a damper of potential buyers coming to look at homes during the first quarter. However, as we progressed towards March we saw activity pick up and a very nice rebound. Inventory increased slightly throughout the year as did sales activity. 2015 ended the year on the upbeat with increased sales and increased prices.
2014 Year End Analysis
Historic Inventory Levels:
Long Beach Island is not immune to the various economic cycles that all real estate markets go through as can be seen in the above graph. However, over the years LBI has weathered rather well. LBI real estate is usually the last to feel the effects of an economic downturn and one of the first markets out of a recovery cycle. There are very few other markets that can offer the stability that LBI offers a real estate investor.