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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 it below as well:

May 13, 2020

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

 

Hello from the Beach!

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:  5/21/20 – 5/28/20

NEWLY LISTED

MLS # Address Town Beds Baths SQFT Lot Size Current Price
NJOC398524 2708 Long Beach Blvd #5 SHIP BOTTOM 1 1 642 50 x 75 $330,000
NJOC398460 14 W Harrington Ave BRANT BEACH 4 2 1,456 45.00 x 92.00 $599,000
NJOC398540 1406 Bayview Ave BARNEGAT LIGHT 3 2 1,664 50.00 x 169.00 $839,000
NJOC398400 226 E 3rd St BEACH HAVEN 3 2 1,504 45.00 x 119.75 $899,999
NJOC398312 29 N 11th St SURF CITY 5 4/1 3,040 50.00 x 100.00 $1,839,000
NJOC396188 127 E 21st St NONE AVAILABLE 5 3 2,700 40.00 x 100.00 $1,999,900
NJOC398514 517 Shore Ave SHIP BOTTOM 5 4/1 4,130 80.00 x 135.00 $2,595,000
NJOC398474 1075 Long Beach Blvd NORTH BEACH 4 3 2,400 100×469 $5,695,000

Click here for more listing data.


UNDER CONTRACT

MLS # Address Town Beds Baths SQFT Lot Size Current Price
NJOC397638 7700 Long Beach #B BEACH HAVEN CREST 2 1/0 520 41.00 x 110.00 $329,000
NJOC398256 14 W Jacqueline Ave HOLGATE 3 2/1 1,743 60.00 x 62.00 $874,900
NJOC393698 1613 E Bay Ter SHIP BOTTOM 4 2/1 1,276 26.00 x 175.00 $899,900
NJOC390692 21 S 3rd St SURF CITY 6 2 1,632 40.00 x 100.00 $899,900
NJOC391242 26 W New York Ave BRIGHTON BEACH 3 2/1 1,971 42.00 x 75.00 $1,089,000
NJOC386938 1106 N Barnegat Ave SURF CITY 5 3/1 2,750 50×100 $1,195,000
NJOC391284 216 Holyoke Ave BEACH HAVEN – LEH YACHT 6 4/0 3,140 50.00 x 127.31 $1,299,999
NJOC386894 73 Sunset Blvd HIGH BAR HARBOR 5 4/1 3,700 90×285 $1,395,000
NJOC392742 12 Pershing HOLGATE 5 3/1 2,900 50.00 x 100.00 $1,495,000
NJOC387438 107 E Jeanette Ave BEACH HAVEN CREST 5 4/1 4,000 60×140 $3,325,000

Click here for more listing data

CLOSED

MLS # Address Town Beds Baths SQFT Lot Size DOM Original List Price List Price Close Price
NJOC391462 11 E 40th #U1 BRANT BEACH 3 2 1,000 40.00 x 75.00 162 $529,000 $519,000 $510,000
NJOC393958 7711 Ocean #1 BEACH HAVEN CREST 3 1/1 864 50.00 x 100.00 76 $574,999 $549,999 $520,000
NJOC393394 10001 Highland Ave #A BEACH HAVEN PARK 3 2/1 1,510 80×60 33 $749,000 $749,000 $735,000
NJOC390346 5301 Long Beach HOLGATE 6 3 1,832 40.00 x 100.00 125 $1,195,000 $1,195,000 $980,000
NJOC393174 24 W Connecticut (83rd St) Ave BRIGHTON BEACH 4 3/1 2,556 60 x 100 137 $1,199,000 $1,149,000 $1,065,000


Click here for more listing data

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

Mapping and Analysis – Determine your current and future Base Flood Elevation and what it means to you.

Flood Update – Recent FEMA reforms.

Beach Replenishment: (link – Army Corp of Engineer’s page on LBI beach replenishment)  The project is completed for this cycle. Please check the web site for more info.

Causeway Bridge Project: (link – DOT NJ) The Route 72 Manahawkin Bay Bridges Project involves the construction of a new structure  parallel to, and south, of the existing Manahawkin Bay Bridge; rehabilitation of the existing Manahawkin Bay Bridge; and the rehabilitation of three trestle bridges over Hilliards Thorofare, East Thorofare, and West Thorofare. Other planned improvements include:

  • A six-foot sidewalk  on the westbound (north) side of Route 72, with connections to communities and points of interest on the south side of the roadway;
  • Bicycle accommodations, including wider outside shoulders on the twin Manahawkin Bay Bridges and six-foot bike lanes on the trestle bridges;
  • Improvements to the intersection of Route 72 and Marsha Drive in Stafford Township to alleviate seasonal  traffic delays; and
  • Intersection improvements in Ship Bottom, designed to improve traffic flow for both north/south traffic on Long Beach Island and along 8th and 9th Streets, and drainage improvements to improve access during heavy rainfalls and high tides.

Cedar Bonnet Project – a plan to “restore and enhance” 45 acres located within the southeastern portion of Cedar Bonnet Island, which are part of the Edwin B. Forsythe National Wildlife Refuge.

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

Battle Lines Drawn Over Beach Haven Pedestrian Mall

Objections from Fire, First Aid Chiefs; Polly’s Dock Owner

On Thursday, May 28, the Beach Haven Borough Council will vote on an application by Bird & Betty’s to use a portion of Dock Road for a pedestrian mall. The agenda meeting begins online at 4 p.m. and will be in Zoom format. The matter came before the council at a meeting last week but was carried over due to […]

 

LBI Reports Just One New COVID Case in Past Few Weeks

Health Department Emphasizes Effectiveness of Social Distancing

Long Beach Island’s first case of the novel coronavirus was documented on March 18. Since then, there have been a total of 41 individuals with laboratory-confirmed COVID-19, 11 of them healthcare workers. Sadly, five residents, all senior citizens, passed away from the virus. In the past few weeks, though, according to the LBI Health Department, the Island has had just […]

 

Ship Bottom Vetoes Drive-In Request From Lighthouse Film Festival

Citing noise, traffic and other public safety concerns, the Ship Bottom Borough Council Tuesday rejected a proposal from the Lighthouse International Film Festival for a five-night double feature drive-in movie experience at the boat ramp next month.   The vote came after nearly an hour of discussion that began in public comment following the reading of a letter written to […]

 

Cool Weather, Pandemic Restrictions Open Summer on LBI

While people from all over flocked to Long Beach Island for the Memorial Day weekend despite the cooler temps and threat of rain, there’s no doubt the unofficial kickoff to summer was different.   On Friday afternoon shortly before 1, under a gray sky, downtown Beach Haven, for the most part, was quiet. While parking from Uncle Will’s to Murphy’s […]

CLOSED SALES  FOR THE  MONTH  OF  APRIL 2020
MLS # Address Town Beds Baths SQFT Lot Size DOM Original List Price List Price Close Price
NJOC141748 304 N 10th St SURF CITY 3 1 870 50 x 100 252 $549,000 $499,000.00 $440,000.00
NJOC393258 5517 West Ave HOLGATE 2 1/0 1,120 69.58 x 43.23 Irregular 101 $519,000 $519,000.00 $460,000.00
NJOC395924 9 W Coughlan BRANT BEACH 2 1/0 720 45.00 x 94.00 29 $599,000 $599,000.00 $599,000.00
NJOC396018 375 7th St SHIP BOTTOM 3 2 1,161 80 x 100 11 $609,900 $609,900.00 $604,500.00
NJOC394952 369 W 7th St SHIP BOTTOM 4 2 1,600 60.00 x 100.00 50 $625,000 $625,000.00 $610,000.00
NJOC392364 19 Joan Rd HOLGATE 4 2 1,344 50.00 x 62.50 114 $639,999 $639,999.00 $621,250.00
NJOC392704 25 W Colorado Ave HAVEN BEACH 4 2 1,552 60.00 x 75.00 109 $689,000 $679,000.00 $635,000.00
NJOC395284 5 E Louisiana Ave BEACH HAVEN PARK 2 1/0 616 45.00 x 90.00 15 $574,900 $574,900.00 $675,000.00
NJOC394548 15 W Janet Rd HOLGATE 5 2 1,344 50.00 x 62.00 38 $720,000 $720,000.00 $675,000.00
NJOC390772 27 N 2nd St SURF CITY 5 2 1,744 50.00 x 100.00 175 $803,500 $775,000.00 $680,000.00
NJOC393296 1 E 73rd St HARVEY CEDARS 4 1/1 1,228 60.00 x 100.00 85 $789,900 $719,000.00 $690,000.00
NJOC140930 5 W Culver Ave BEACH HAVEN CREST 5 2 1,428 82×65 361 $798,000 $700,000.00 $690,000.00
NJOC393344 23-A W Essex Ave #A HARVEY CEDARS 4 3/0 2,184 50.00 x 110.00 64 $837,500 $799,900.00 $725,000.00
NJOC387442 30 W Carolina Ave HOLGATE 5 3 1,800 50×62 150 $795,000 $779,000.00 $750,000.00
NJOC394856 14 E 16th St NORTH BEACH HAVEN 4 1/1 1,400 26.00 x 100.00 22 $799,999 $769,000.00 $754,500.00
NJOC390554 2009 S Bay Ave BEACH HAVEN – LEH YACHT 4 2 1,550 40.00 x 100.00 140 $799,000 $799,000.00 $775,000.00
NJOC393384 110 E 24th Street SPRAY BEACH 3 1 1,408 60.00 x 100.00 142 $849,000 $849,000.00 $790,000.00
NJOC391524 5513 Holly Ave HARVEY CEDARS 4 3 1,998 50.00 x 110.00 125 $819,000 $819,000.00 $792,000.00
NJOC140846 11 E Lillie Ave BEACH HAVEN PARK 4 2 1,729 50×90 340 $849,900 $799,900.00 $799,900.00
NJOC396894 406 Amber St BEACH HAVEN 4 3 1,692 50.00 x 100.45 15 $779,000 $779,000.00 $821,000.00
NJOC394986 21 W Hobart BEACH HAVEN CREST 4 2 1,800 64.00 x 65.00 29 $869,900 $869,900.00 $829,000.00
NJOC390832 206 E 4th St BEACH HAVEN 3 1/1 1,550 50.00 x 75.00 43 $859,000 $849,000.00 $855,000.00
NJOC395254 1504 Bayview Ave BARNEGAT LIGHT 5 3 2,248 51.00 x 88.00 20 $865,000 $865,000.00 $855,000.00
NJOC386254 279 N 6th St SURF CITY 5 3 1,728 65×100 218 $949,900 $899,000.00 $855,000.00
NJOC396042 11 E 9th St BARNEGAT LIGHT 5 3/1 1,900 50.00 x 125.00 32 $899,000 $899,000.00 $899,000.00
NJOC385772 1310 Bayview Ave BARNEGAT LIGHT 4 2/1 2,181 69×137 224 $1,100,000 $949,000.00 $900,000.00
NJOC390762 38 W Wyoming HAVEN BEACH 5 2/1 2,200 75.00 x 75.00 179 $974,999 $949,999.00 $905,000.00
NJOC395410 14 W Indiana Ave BEACH HAVEN TERRACE 4 2/2 1,899 100.00 x 90.00 64 $999,000 $999,000.00 $942,500.00
NJOC142168 6 W Roosevelt Ave HOLGATE 4 3/1 2,040 50×100 5 $1,100,000 $1,100,000.00 $1,175,000.00
NJOC393476 256 Pompano Dr LOVELADIES 4 3 2,400 100.00 x 100.00 86 $1,395,000 $1,395,000.00 $1,250,000.00
NJOC394720 288 N 13th St SURF CITY 4 3/1 2,600 50.00 x 100.00 93 $1,299,000 $1,299,000.00 $1,250,000.00
NJOC138276 12 E Essex Ave #B HARVEY CEDARS 4 3 2,359 55×100 460 $1,820,000 $1,585,000.00 $1,250,000.00
NJOC137928 4 Pershing Ave HOLGATE 4 3/1 2,794 50 x 100 421 $1,279,000 $1,350,000.00 $1,350,000.00
NJOC395236 4800 Ocean Blvd BRANT BEACH 4 3/1 2,424 75.00 x 75.00 40 $1,499,000 $1,499,000.00 $1,450,000.00
NJOC388564 61-D Sunset HIGH BAR HARBOR 5 3/1 3,107 101.00 x 367.00 185 $1,789,000 $1,649,000.00 $1,500,000.00
NJOC386214 5108 S Bay Ave HOLGATE 5 3/1 2,915 50×100 9 $1,500,000 $1,500,000.00 $1,600,000.00
NJOC394342 2 Taylor Ave BEACH HAVEN 4 2/1 1,520 50.00 x 100.00 57 $1,699,000 $1,699,000.00 $1,612,500.00
NJOC393732 123 E 27th SPRAY BEACH 5 4/1 2,844 40.00 x 90.00 41 $1,799,999 $1,799,999.00 $1,700,000.00
NJOC137800 1009 S Atlantic Ave BEACH HAVEN – LEH YACHT 4 3 2,300 50×100 565 $2,795,000 $2,295,000.00 $2,000,000.00
NJOC387472 2410 Atlantic Ave SPRAY BEACH 6 4/2 3,616 64×100 149 $2,097,000 $2,097,000.00 $2,025,000.00
NJOC394688 15 W Mears Ave BRANT BEACH 6 3/1 3,144 50×140 24 $2,295,000 $2,295,000.00 $2,100,000.00
NJOC386880 116 Dolphin Ave BEACH HAVEN – LEH YACHT 5 3/2 2,500 50×100 95 $2,399,000 $2,399,000.00 $2,300,000

‘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
.