LBI Market Statistics
LBI Market Data from 2012 to Current
(Data below is based on the LBI single family market)
|YEAR||Units Pending||Total Units Sold||Avg. Sales Price
|Average Days on Market||Sold as % of List Price|
2021 – Year End Analysis
Another good year for the real estate market on LBI. The first half of the year moved at a very quick pace. In January we had an Average Sales Price of $1,322,376. By June that had risen to $1,521,875. Interestingly, the Average Sales Price remained fairly steady for the next few months and ended the year at $1,587,337. LBI also lost some steam on the number of units sold in the latter part of the year and closed the year out at 530 single family homes in comparison to 720 the year before. We may be taking a bit of a breather.
2020 Year End Analysis
Certainly a wild ride this year. LBI real estate market was slowly moving in an upward fashion in the beginning of the year. In March, when COVID forced shut downs so did the market for a while. As more folks were sheltering in place and working from home, LBI looked like a great place to work from or to become a respite.
By June the market took off. The LBI market remains a very hot market. Inventory is extremely low and buyer activity is quite high. Leading sometimes to bidding wars. Prices are rising obviously as the demand is far outpacing the supply.
2019 Year End Analysis
Steady is the key word for 2019. We had a few more houses sell and Average Sales Price was up 3% over 2018. Days on the market also remained fairly steady as did Sold Price as a Percentage of the List Price. Buyer activity remains strong and our inventory levels are lower than usual.
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.