LBI Market Insights

LBI Market Overview 

2019 2nd 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.

Buyer activity remains strong 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

2nd Q Comparison – 2019 to 2018

YEAR Units  Pending Total Units Sold Avg. Sales Price

(ASP)

New

Listings

Average Days on Market Sold as % of List Price
2019 2Q 49 230 $1,173,150 521 99 95.7
2018 2Q 61 240 $1,099,895 485 116 95.7

LBI MARKETRENDS – EOY 2018 – by town  

 

TOWN

# Units Sold Average

Sales Price

Avg Days On Market

% List  to Sales Price

Holgate 25 $1,066,978 92 95.3
Beach Haven 65 $1,130,331 100           96.4
LBT South 150 $1,165,892 92           96.1
Ship Bottom & Surf City 106 $879,135 111          96.2

North Beach, Harvey Cedars, Loveladies

100 $1,381,788 142          95.0
Barnegat Light 37 $858,062 145         94.4
High Bar Harbor 9 $729,131 143         95.5

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

490 $1,116,102 114 95.7%

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