LBI Market Insights

LBI Market Overview 

3rd Quarter 2018

The LBI market is holding steady this year. Average Sales Price (ASP) for Jan thru September 2018 was $1,092,895 compared to same time frame in 2017 at $1,088,550.

Days On Market are averaging 111 this year compared to 124 last year. The Percent Of Final List Price to Sold Price is holding steady around 96%. Inventory levels are still low, as of November 9, 2018 there were 397 single family homes for sale. 417 homes closed as of 11/9. There are 77 home under contract as of 11/9

Buyer activity levels were running brisk, there was a bit of a slow down just prior to elections. 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 3rd Q – by town  

 

TOWN

# Units Sold Average

Sales Price

Avg Days On Market

% List  to Sales Price

Holgate

18

$991,572 78 96.3
Beach Haven

42

$1,130,417 96

96.4

LBT South

110

$1,053,444 88

96.3

Ship Bottom & Surf City

78

$900,546 117

96.1

North Beach, Harvey Cedars, Loveladies

76 $1,431,653 142

92.9

Barnegat Light

21

$884,133 143

93

High Bar Harbor

5

$715,035 146

95.9

 

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- 9/30

350 $1,092,895 111 95.8%

MarkeTrends E-Newsletter – Published twice a year with the latest LBI real estate news. Comprehensive market statistics, my ‘Crystal Ball’ forecast for the sales and rental market, along with other LBI topics of interest. Email your request to be added to my subscription list.