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.
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.)
(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
Click here for more listing data.
Click here for more listing data
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)
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 […]
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 […]
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 […]
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 […]
‘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