LBI Market Overview
2019 3rd Quarter
The first quarter started a bit slow but picked up some speed by end of March. By mid year the Average Sales Price has increased almost by 10% over 2018 ASP for the same time period.
The summer was quote busy which is not usually the norm.
Buyer are still active and inventory remains low. The market continues to be more of a seller’s market.
2018 End of Year
The LBI market is holding steady this year. Average Sales Price (ASP) ended the year at $1,116,102 compared to end of year 2017 at $1,106,278.
Days On Market are averaging 114 this year compared to 120 last year. The Percent Of Final List Price to Sold Price is holding steady around 95.7%. Inventory levels are still low, as of January 3rd, 2019 there were 356 single family homes for sale. 490 homes closed. There are 48 home under contract as of 1/3/19.
Buyer activity levels were running brisk early in the year, there was a bit of a slow down which took place in the 3rd Quarter. Elections usually put a pause on our markets. The turmoil in Washington, DC might continue this pause into the First Quarter of 2019.
LBI Sales Statistics
3rd Q Comparison – 2019 to 2018
| YEAR | Total Units Sold | Avg. Sales Price(ASP) | New Listings | Average Days on Market | Sold as % of List Price |
| 2019 3rd Q | 336 | $1,157,053 | 733 | 97 | 95.9 | |
| 2018 3rd Q | 312 | $1,075,499 | 711 | 103 | 95.9 |
LBI MARKETRENDS – Jan – June 30, 2019 – by town
|
TOWN |
# Units Sold | AverageSales Price | Avg Days On Market |
% List to Sales Price |
| Holgate | 13 | $1,391,385 | 87 | 96.2 |
| Beach Haven | 26 | $1,130,827 | 102 | 95.4 |
| LBT South | 70 | $1,195,980 | 100 | 95.8 |
| Ship Bottom & Surf City | 66 | $870,309 | 73 | 96 |
|
North Beach, |
29 | $1,379,796 | 142 | 94.5 |
| Barnegat Light | 15 | $950,342 | 142 | 95.4 |
| High Bar Harbor | 4 | $871,475 | 70 | 95.5 |
LBI MARKETRENDS all of LBI – by year
|
YEAR |
# Units Sold | AverageSales Price | Avg Days On Market |
% List to Sales Price |
|
2012 |
369 | $939,150 | 176 | 93% |
|
2013 |
306 | $904,813 | 157 | 93% |
|
2014 |
379 | $974,864 | 145 | 94% |
|
2015 |
425 | $1,027,591 | 181 | 95% |
|
2016 |
473 | $990,184 | 161 | 95.4% |
|
2017 |
540 | $1,106,290 | 119 | 96.1% |
|
2018 |
490 | $1,116,102 | 114 | 95.7% |
2019 3rd Q 335 $1,157,053 97 95.9%
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