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This Week On LBI

Messages from Sand Dollar are on our homepage, but many of you just come directly to this page, so I have posted these messages below as well:

Hello from the Beach!

July 9, 2020

The latest issue of LBI MarkeTrends Newsletter is available. What a wild 6 months we have had on LBI! Read all about it. Request your issue by emailing: SandDollaronLBI@att.net and ask to be put on our distribution list.

 

June 11, 2020

Just to give you a quick update on our current market conditions…

  • 15% behind in units sold (39 units) over the same time last year. This was expected as the ‘shelter in home’ took place in mid-March and is only now beginning to be lifted. Also, closings have been taking a bit longer as we all adjust to `distance closings’.
  • On the flip side, there are 80 homes in a pending status. Normally, we see around 45-60 at one time and depending on the time of the year. So, this is a high number and should make up for the prior slowdown in units sold.
  • Average Sales Price fell about 3% over this time last year. Part of this is due to the mix of sales, there have been no high-end sales – over $4M+. This will change as some of the `pendings’ begin to close as there is an oceanfront in pending at $5,999,000.
  • Days on the market are a bit longer, but again it is taking longer to get a deal from contract to closing so this is expected as well.
  • % of Sales Price to List Price is still around 95% to 96%.
  • Inventory remains low.

So overall, LBI is weathering the COVID-19 rather well. The Island has always shown its resilience!

May 13, 2020

Pat Sepanak Interview on Current Conditions of LBI Sales and Rental Market

 

May 7, 2020

LBI Market Update

I thought I would give you a quick update as to what we area seeing in our sales and rental markets. I will update as I see news worth reporting to you. I have also just completed an LBI MarkeTrends Quarterly Update Newsletter. If wish to receive a copy, please email me at PatonLBI@att.net with your request.

Sales Market: Average Sales Price (ASP) shows a drop around 4% over 2019. However, there have not been as many high end sales ($3M+) as in previous years. Reviewing most other sales, no overall decline in prices are noted. Inventory remains on the low side as do ‘under contract’ sales. Some sales did fall through as buyers choose not to continue with their purchase due to the economic uncertainty of the impact of COVID-19. The mid year numbers will be a better indication on the health of the LBI real estate market. So far, LBI is holding pretty steady.

Rental Market: We have experienced a few cancellations at this time due to concerns about COVID-19. We have fielded many phone calls with questions about how LBI will pan out. The majority of our summer guests seem to be looking forward to a vacation on LBI. Prior to the outbreak, our bookings were up. We are still receiving inquiries which we take as a very good sign. If there is improvement with the handling of COVID-19 there is expectations that we could have a surge as LBI may be deemed safer than many other choices.

Stay Healthy,

Pat Sepanak

Broker/Owner

Our Goal: to supply you with the best market data available so you can make the right decisions about purchasing on LBI; and to assist you in all phases of the home purchase process so you are assured that you not only have found Your Perfect Beach Home on Long Beach Island you arrived there in the most professional manner.

Below, find out each week what’s been ‘Newly Listed‘, what just went ‘Under Contract‘ and what has ‘Just Closed‘. Want to know local headline news or maybe check out the local weather to see if we are having another wonderful beach day.

(Of course, any day at the beach is a wonderful day.) 

MARKET SNAPSHOT

 (from the Bright Multiple Listing Service)

This Update is for the single family and condo market. If you would like update information for multi family, land or commercial, either email us with your desired parameters or use our Early Buyer’s Alert program.

If you desire more information on any of the properties below, you can go click on
the link under each grouping.  

Week of: 7/23/20 – 7/30/20

NEWLY LISTED

MLS # Address Town Beds Baths SQFT Lot Size Current Price
NJOC400682 7903 Long Beach Blvd #B BEACH HAVEN CREST 3 1/0 976 25.00 x 100.00 $339,900
NJOC400680 7903 Long Beach Blvd #A LONG BEACH TOWNSHIP 2 1 976 25.00 x 100.00 $375,000
NJOC400860 226 W 14th St St W NONE AVAILABLE 2 1 912 40×100 $499,000
NJOC400746 1-A Louisiana BEACH HAVEN PARK 3 2 1,072 50.00 x 90.00 $624,900
NJOC400666 5 W 33rd Street BEACH HAVEN GARDENS 3 2 1,652 70.00 x 75.00 $630,000
NJOC400858 203 W 22nd St SHIP BOTTOM 4 2 1,536 40.00 x 100.00 $699,000
NJOC400884 107 W Delaware Ave BEACH HAVEN TERRACE 2 1/0 704 90.00 x 65.00 $750,000
NJOC400618 272 N 10th St SURF CITY 4 3 1,056 50.00 x 100.00 $799,000
NJOC400744 219 W 18th St SHIP BOTTOM 3 1/1 1,056 60.00 x 100.00 $829,999
NJOC400808 7 Coughlan Ave. BRANT BEACH 1 1 1,440 45.00 x 94.00 $849,900
NJOC400780 310 Coral St BEACH HAVEN – LEH YACHT 4 3/1 1,909 50.23 x 90.00 $899,000
NJOC400794 29 Amherst HIGH BAR HARBOR 4 1 1,248 90.00 x 100.00 $899,000
NJOC400724 2 E Goldsborough BRANT BEACH 4 2/1 1,974 45.00 x 100.00 $975,000
NJOC400882 6 Rosemma HOLGATE 5 3/1 2,029 40.00 x 88.00 $999,000
NJOC400070 8 E 41st BRANT BEACH 5 4/1 2,634 67.00 x 75.00 $999,000
NJOC400772 18 42nd BRANT BEACH 5 1/2 1,808 80.00 x 75.00 $1,250,000
NJOC400888 2514 Central Ave SHIP BOTTOM 4 3/1 2,500 50.00 x 100.00 $1,295,000
NJOC400634 122 E 32nd BEACH HAVEN GARDENS 4 2 1,855 80.00 x 90.00 $1,349,000
NJOC400782 1108e Long Beach Blvd NORTH BEACH 4 3/1 2,779 100.00 x 100.00 $1,350,000
NJOC400750 34 Adrian HIGH BAR HARBOR 5 5/1 3,884 60.00 x 100.00 $1,495,000
NJOC400774 36 N 12th St SURF CITY 4 2/1 2,282 50.00 x 100.00 $1,500,000
NJOC400720 121 E Sand Dune PEAHALA PARK 5 2/1 1,616 60.00 x 50.00 $1,595,000
NJOC400704 118 E Sailboat PEAHALA PARK 4 3 2,000 48.00 x 75.00 $1,699,000
NJOC400552 5311-A Long Beach Blvd #A NONE AVAILABLE 4 3/1 2,424 100.00 x 100.00 $1,749,000
NJOC400698 124 South 31st St BEACH HAVEN GARDENS 5 4/1 2,645 40.00 x 90.00 $1,749,000
NJOC399990 112 E Wyoming Ave. HAVEN BEACH 5 4/1 3,254 60.00 x 75.00 $2,299,000
NJOC400650 59-B Long Beach Blvd LOVELADIES 7 4/2 3,791 120.00 x 100.00 $2,350,000
NJOC400832 3701 Long Beach Blvd S HOLGATE 4 3/1 2,418 60.00 x 200.00 $2,700,000
NJOC400664 1003-C Long Beach Blvd #C NORTH BEACH 5 4/2 3,924 100.00 x 100.00 $2,850,000
NJOC400584 482 Schoderer Ln SURF CITY 4 4/1 3,144 73.00 x 0.00 $3,099,000

Click here for more listing data.


UNDER CONTRACT

MLS # Address Town Beds Baths SQFT Lot Size Current Price
NJOC138054 401 Broadway #7 BARNEGAT LIGHT 1 1 620 CONDO $309,900
NJOC400508 1020-E Long Beach #E NORTH BEACH 4 2/1 1,932 100.00 x 100.00 $889,900
NJOC398908 24 E California Ave BEACH HAVEN PARK 4 1/1 1,316 40.00 x 80.00 $949,000
NJOC396922 1078-E Long Beach Blvd #1 NORTH BEACH 4 3/1 2,400 100×100 $1,149,000
NJOC399940 2 W Jerome NONE AVAILABLE 5 3/1 2,978 76.00 x 80.00 $1,247,000
NJOC137966 8 Pershing Ave HOLGATE 4 3/1 2,384 50×100 $1,260,000
NJOC399448 231 W 16th St SHIP BOTTOM 5 3/1 2,494 60.00 x 100.00 $1,299,000
NJOC400298 23 W Ohio THE DUNES 6 3/1 2,392 60.00 x 100.00 $1,399,000
NJOC393146 106 Lillie BEACH HAVEN PARK 6 4/1 2,859 40.00 x 90.00 $1,695,000
NJOC394164 333 Cranberry Dr LOVELADIES 5 3/3 7,220 IRR $3,450,000

Click here for more listing data

CLOSED
MLS # Address Town Beds Baths SQFT Lot Size DOM Original List Price List Price Close Price
NJOC391306 6 E Indiana Ave #4 BEACH HAVEN TERRACE 1 1 362 133×90 231 $225,900 $225,900.00 $195,000.00
NJOC398190 1 W 11th St #2 BARNEGAT LIGHT 2 1 576 50.00 x 125.00 61 $485,000 $459,000.00 $459,000.00
NJOC397244 403 8th St BEACH HAVEN 3 2/1 1,493 416.00 x 185.00 92 $749,900 $749,900.00 $735,000.00
NJOC398110 6112 Long Beach Blvd HARVEY CEDARS 3 1/1 1,176 50.00 x 135.00 50 $785,000 $765,000.00 $765,000.00
NJOC396886 229 12th St BEACH HAVEN 4 1/1 1,375 109 $939,900 $919,900.00 $880,000.00
NJOC399396 14 W 75th Street HARVEY CEDARS 4 2/1 2,072 50’x100′ 8 $975,000 $975,000.00 $975,000.00
NJOC397022 12704 Long Beach THE DUNES 6 4/1 3,248 110 x Irr. 113 $1,199,000 $1,199,000.00 $999,999.00
NJOC397062 415 2nd St BEACH HAVEN 4 2/2 2,058 50.00 x 106.75 68 $1,319,000 $1,319,000.00 $1,280,000.00
NJOC399172 16 E Florida BEACH HAVEN PARK 5 4/1 3,393 57.00 x 80.00 12 $1,599,999 $1,599,999.00 $1,615,000.00
NJOC393290 117 E Colorado Ave HAVEN BEACH 5 5/2 3,736 60.00 x 75.00 193 $2,390,000 $2,499,000.00 $2,475,000.00

Click here for more listing data

All information from our local MLS, deemed to be accurate but not guaranteed.

 

THIS WEEK’S HEADLINES (from The Atlantic City Press, The Asbury Park Park Press, The Sandpaper)

Outdoor Dining Hours Extended in Ship Bottom

Citing the recent heat wave and a hope to help restaurant owners during a summer truncated due to the pandemic, Ship Bottom borough has lengthened outdoor dining hours until midnight.  Outdoor dining previously ended at 10 p.m. Mayor William Huelsenbeck and Joe Valyo, emergency management coordinator and a councilman, signed the executive order July 24. It was effective immediately and is good through […]

 

35 LBI Lifeguards Test Positive for COVID-19; 11 From Surf City Cleared to Return to Work

More Guards Expected Back This Week

Eleven Surf City lifeguards who tested positive earlier this month for COVID-19 were cleared by the Long Beach Island Health Department to return to work July 27, Mayor Francis Hodgson said Monday morning. He said the remaining six guards are expected to return to work by the end of the week. Four guards tested negative for the coronavirus, while one test […]

 

LBI School District Planning for In-Person Instruction to Begin Sept. 8

Conditions Subject to Change Based on State Guidance, Emergency Orders

With three options being discussed, the LBI Consolidated School District is focused on the one that allows for a combination of in-person classes with modifications due to the pandemic as well as a remote learning component, according to Superintendent Peter J. Kopack. Under this plan, the district will require students to wear masks on the bus and in school until […]

Artificial Reef Project Awaits the Green Light

An artificial reef project initiated by the Beach Haven Charter Fishing Association last year is expected to begin next month with the sinking of three vessels on Little Egg Reef, located approximately 5 miles offshore from the south end of Beach Haven. “Our stated goal is to maintain and expand the existing reefs off of LBI in order to build […]

Beach Haven West Study Underway But Next Steps for Lagoons Are Long Way Off

Some residents or boaters within the Beach Haven West section of Stafford Township may have noticed a few new vessels patrolling the waterways and lagoons during recent weeks. Don’t worry, they’re not out there trying to cause trouble for anybody. Rather, ACT Engineers is doing an important job for the township, and it’s the first step of

 

CLOSED SALES  FOR THE  MONTH  OF JUNE 2020
MLS # Address Town Beds Baths SQFT Lot Size DOM Original List Price List Price Close Price
NJOC392964 17 E 76th St E #9 HARVEY CEDARS 3 2 1,000 100 X 200 170 $145,500 $145,500.00 $140,000.00
NJOC397638 7700 Long Beach #B BEACH HAVEN CREST 2 1/0 520 41.00 x 110.00 40 $329,000 $329,000.00 $320,000.00
NJOC395330 310 S West Ave #3G BEACH HAVEN – LEH YACHT 1 1 800 88 $379,000 $379,000.00 $345,000.00
NJOC396290 1000 N Bay Ave #C7 BEACH HAVEN 1 1 652 0.00 x 0.00 43 $395,000 $395,000.00 $386,000.00
NJOC397816 25 W 9th St BARNEGAT LIGHT 3 2 1,196 50×125 8 $614,900 $614,900.00 $590,000.00
NJOC398388 204 W 6th St SHIP BOTTOM 3 2 1,056 50.00 x 100.00 11 $649,000 $649,000.00 $625,000.00
NJOC141438 112 N 3rd St SURF CITY 3 1 900 60×100 379 $650,000 $635,000.00 $633,000.00
NJOC398236 525 Amber St #B BEACH HAVEN 3 2/1 1,768 60 x 109 19 $625,000 $625,000.00 $640,000.00
NJOC395358 104 E 32nd #2 BEACH HAVEN GARDENS 3 2 1,008 40.00 x 90.00 33 $685,000 $685,000.00 $660,000.00
NJOC142038 245 W 21st St SHIP BOTTOM 3 2/0 1,344 50×100 262 $710,000 $699,000.00 $680,000.00
NJOC396458 321 Centre St BEACH HAVEN 3 3/0 1,700 60.00 x 128.00 72 $719,900 $719,900.00 $697,000.00
NJOC397228 209 W 27th St NONE AVAILABLE 3 2/1 1,400 25.00 x 80.00 48 $769,000 $769,000.00 $735,000.00
NJOC398296 1072-C Long Beach Blvd NORTH BEACH 6 3/0 2,540 100.00 x 100.00 10 $789,000 $789,000.00 $750,000.00
NJOC394940 286 N 14th St SURF CITY 4 2 1,536 50.00 x 100.00 110 $809,000 $809,000.00 $750,000.00
NJOC397140 112 32nd BEACH HAVEN GARDENS 3 2 1,520 50.00 x 90.00 19 $799,900 $799,900.00 $750,000.00
NJOC395976 322 W 18th St SHIP BOTTOM 4 2/1 1,894 40.00 x 100.00 97 $775,000 $774,900.00 $752,500.00
NJOC395566 44 W Ohio Ave BEACH HAVEN TERRACE 4 2 1,948 50.00 x 90.00 88 $789,000 $749,500.00 $775,000.00
NJOC395892 13 W 7 St NONE AVAILABLE 6 6 0 100.00 x 133.00 95 $799,000 $799,000.00 $785,000.00
NJOC394558 210 N Beach Ave BEACH HAVEN 4 2 2,426 60.00 x 100.00 75 $849,000 $849,000.00 $800,000.00
NJOC394358 97 E 27th Street SHIP BOTTOM 4 2/1 2,352 48 x 102 133 $869,000 $869,000.00 $810,000.00
NJOC393698 1613 E Bay Ter SHIP BOTTOM 4 2/1 1,276 26.00 x 175.00 143 $999,000 $899,900.00 $890,000.00
NJOC397212 57 Bayview Dr LOVELADIES 4 2/1 3,024 100.00 x 100.00 60 $949,000 $949,000.00 $895,000.00
NJOC384688 1 Hideaway Dr BEACH HAVEN PARK 4 3/0 2,753 79×78 268 $1,100,000 $974,900.00 $927,500.00
NJOC396268 100 E Muriel BEACH HAVEN PARK 4 2/1 1,646 40.00 x 80.00 99 $997,000 $979,000.00 $937,500.00
NJOC397708 168-B Long Beach Blvd #B LOVELADIES 4 3 2,271 112.00 x 115.00 15 $979,000 $979,000.00 $940,000.00
NJOC395504 6 E 8th St BARNEGAT LIGHT 4 3/0 1,500 50.00 x 125.00 105 $974,999 $974,999.00 $940,000.00
NJOC390902 711 S Beach Ave BEACH HAVEN 6 3/1 2,930 50.00 x 100.00 170 $1,250,000 $1,150,000.00 $949,000.00
NJOC397262 3 West Alabama LONG BEACH TOWNSHIP 5 4 2,029 87.00 x 90.00 56 $950,000 $950,000.00 $975,000.00
NJOC397946 101 W 11th St SHIP BOTTOM 5 3/1 2,602 50.00 x 95.00 22 $995,000 $995,000.00 $985,000.00
NJOC391242 26 W New York Ave BRIGHTON BEACH 3 2/1 1,971 42.00 x 75.00 233 $1,089,000 $1,089,000.00 $990,000.00
NJOC391908 10 E 17th St BARNEGAT LIGHT 4 2/1 2,260 50.00 x 125.00 207 $1,149,000 $1,049,000.00 $990,000.00
NJOC392574 325 Belvoir Ave BEACH HAVEN – LEH YACHT 6 3/1 2,491 158 $1,200,000 $1,200,000.00 $999,999.00
NJOC395052 16 W Harmony Ave BRANT BEACH 5 3/1 2,504 42.00 x 100.00 100 $1,125,000 $1,100,000.00 $1,045,000.00
NJOC396906 1078-E Long Beach Blvd #2 NORTH BEACH 4 3/1 2,400 100×100 50 $1,149,000 $1,149,000.00 $1,050,000.00
NJOC393762 16 E S 31st BEACH HAVEN GARDENS 4 3/1 2,237 40 x 90 134 $1,199,000 $1,099,000.00 $1,050,000.00
NJOC387274 6 Hideaway Dr BEACH HAVEN PARK 4 3/1 3,092 77×78 261 $1,299,000 $1,199,000.00 $1,075,000.00
NJOC394448 4 E 24th St SPRAY BEACH 4 3 2,023 50×63 145 $1,199,000 $1,149,900.00 $1,090,000.00
NJOC395276 115 E 20th NORTH BEACH HAVEN 5 3 2,548 60.00 x 100.00 82 $1,099,000 $1,124,900.00 $1,100,000.00
NJOC396310 108 Nevada HAVEN BEACH 6 2 1,764 77.00 x 45.00 6 $1,149,000 $1,149,000.00 $1,100,000.00
NJOC397950 105 E 16th St #A SHIP BOTTOM 5 5/2 2,740 40×100 15 $1,200,000 $1,200,000.00 $1,125,000.00
NJOC386938 1106 N Barnegat Ave SURF CITY 5 3/1 2,750 50×100 274 $1,195,000 $1,195,000.00 $1,150,000.00
NJOC138654 463 Schoderer Ln SURF CITY 4 2/1 2,753 133 428 $1,349,000 $1,299,000.00 $1,200,000.00
NJOC390506 3 Buckingham Ave HARVEY CEDARS 4 3 2,009 90 x 100 x 70 x 101.98 267 $1,295,000 $1,295,000.00 $1,205,000.00
NJOC394438 416 W 5th Street BEACH HAVEN 5 3/1 3,065 55 x 95 113 $1,325,000 $1,325,000.00 $1,225,000.00
NJOC386894 73 Sunset Blvd HIGH BAR HARBOR 5 4/1 3,700 90×285 275 $1,750,000 $1,395,000.00 $1,275,000.00
NJOC394800 4804 Bay Terrace HOLGATE 4 3/1 2,634 65.00 x 110.00 98 $1,450,000 $1,450,000.00 $1,350,000.00
NJOC391138 29 N 15th SURF CITY 4 3/1 2,200 40×100 244 $1,599,000 $1,449,000.00 $1,449,000.00
NJOC392742 12 Pershing HOLGATE 5 3/1 2,900 50.00 x 100.00 191 $1,495,000 $1,495,000.00 $1,466,000.00
NJOC393332 16 E Texas BEACH HAVEN PARK 4 4 2,867 60.00 x 90.00 162 $1,599,000 $1,599,000.00 $1,500,000.00
NJOC390544 177a Long Beach Blvd LOVELADIES 6 4/2 3,322 150.00 x 75.00 246 $1,695,000 $1,595,000.00 $1,530,000.00
NJOC393286 104 E South 33rd St BEACH HAVEN GARDENS 5 4 2,400 75.00 x 105.00 147 $1,599,900 $1,599,900.00 $1,560,000.00
NJOC393272 102 E South 33rd St BEACH HAVEN GARDENS 5 4/1 2,761 58×75 171 $1,629,000 $1,629,000.00 $1,580,000.00
NJOC393310 112 E 28th St BEACH HAVEN GARDENS 5 4/1 3,150 40.00 x 90.00 158 $1,649,900 $1,649,900.00 $1,600,000.00
NJOC394274 116 E Lillie Ave. BEACH HAVEN PARK 6 5/1 3,000 40 x 90 126 $1,849,900 $1,799,900.00 $1,700,000.00
NJOC140384 3301 S Long Beach Blvd HOLGATE 5 5 2,722 70.54×185 486 $2,300,000 $1,999,999.00 $1,735,000.00
NJOC392090 474 Schoderer Ln SURF CITY 4 2/1 2,352 60.00 x 122.00 242 $1,950,000 $1,950,000.00 $1,750,000.00
NJOC397630 123-East 19th NORTH BEACH HAVEN 5 4/1 3,300 56.00 x 115.00 44 $2,475,000 $2,475,000.00 $2,305,000.00
NJOC391152 34 Lighthouse Way LOVELADIES 5 4 3,968 80.00 x 125.00 213 $2,849,000 $2,599,000.00 $2,445,000.00
NJOC396432 4403 Ocean NONE AVAILABLE 5 3/1 2,740 53.00 x 100.00 63 $2,850,000 $2,850,000.00 $2,700,000.00
NJOC395828 218 E 17th NORTH BEACH HAVEN 5 4/1 3,200 50.00 x 150.00 101 $2,995,000 $2,995,000.00 $2,862,500.00

‘FOR ‘QUARTERLY’ AND ‘YEARLY’ DATA, VISIT OUR MARKET STATISTICS PAGE.Would you like us to do the search for you? Sign up for our Early Buyer’s Alert program.  Just give us your ‘buying parameters’ and you will be emailed directly from our local MLS system matching properties with full property descriptions and pictures
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