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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