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|
2017 2nd Quarter Analysis
This has been a very busy first half with the number of homes under contract and closed setting new levels not seen in years. As a result inventory levels are running behind. This pressure is pushing average sales price up and if the imbalance continues it is expected that prices will continue to rise.
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.