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|
2018 1st Quarter
The first quarter showed a decrease in the number of homes sold however prices continued to increase. The Average Sales Price reached $1,189,408 where as in 2017 the 1st Q Average Sales Price was $981,098. There is pressure on the market as inventory levels are very low and buyers activity continues to be strong.
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
As of January 14, 2018 there were 388 single family homes for sale
As of April 6, 2018 there were 383 single family homes for sale
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.