LBI Market Insights

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,
Harvey Cedars, Loveladies

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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