LBI Market Insights

LBI Market Overview 

1st Quarter 2018

The LBI market is showing continued appreciation in price and lower inventory levels. Average Sales Price (ASP) for Jan thru April 2018 was $1,154,465 compared to same time frame in 2017 at $1,071,610.

Days On Market are averaging 121 this year compared to 137 last year. The Percent Of Final List Price to Sold Price is holding steady around 96%. Inventory levels are quite low, as of May 2018 there were 383 single family homes for sale. One of the lowest numbers seen on LBI in quite some time. 140 homes closed this year versus 137 last year for the same time period. There are 77 home under contract which should close prior to summer.

Buyer activity levels are still brisk; yet buyers are not finding a very large selection to chose from and some are holding for more inventory to come on the market.


LBI Sales Statistics

 

LBI MARKETRENDS 1st Q – by town  

 

TOWN

# Units Sold Average

Sales Price

Avg Days On Market

% List  to Sales Price

Holgate

7

$1,030,000 59 96.1
Beach Haven

37

$1,158,976 95

92.2

LBT South

37

$1,218,649 92

96.1

Ship Bottom & Surf City

31

$902,471 138

95.3

North Beach, Harvey Cedars, Loveladies

36 $1,403,948 154

95.2

Barnegat Light

8

$915,813 178

95.2

High Bar Harbor

2

$725,138 84

94.9

 

LBI MARKETRENDS all of LBI – by year

 YEAR

 # Units Sold  Average

Sales 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*

1/1- 5/31

200 $1,123,785 116 95.7%

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