~ LBI Rental Homeowners ~
LBI REAL ESTATE UPDATE
Researched & Presented by : PAT SEPANAK , Broker / Owner Sand Dollar Real Estate
Winter 2024
Market Analysis - Slooow might be one way to describe the LBI real estate market . Number of houses sold is the lowest since 2013 -- after Sandy ’ s visit . |
Inventory remains low with an average of 100 homes on the market on a given day |
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for LBI single family
LBI MARKETRENDS
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during 2023 ; compared to the average of around 400 homes in pre-COVID times . This has been pushing the market more towards the seller ’ s side ; however , it should be |
YEAR |
# Units
Sold
|
for
Average LBI single family
Avg Days On
Sales Price
Market
|
% List to
Sales Price
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noted that the last few months showed a decrease in Average Sales Price . Buyers are dealing with higher interest rates , low inventory levels ( therefore less choices ) and |
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YEAR
2022
2022
2023
2023
|
# Units
270
Sold
330
240
290
|
Average
$ 1,881,422
Sales Price
$
1,912,848 2,147,400
$ 2,117,446
|
Avg Days On
50
Market
53
66
67
|
% List to
98.2 %
Sales Price
96.5
98 %
96.6 %
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economic concerns . Some buyers are taking a ‘ wait and see ’ attitude , especially since we are also now in a rather tumultuous Presidential Election Year . The Spring Selling
Market just began and LBI will continue to sell homes , just by the virtue that we still have more buyers than inventory . Pricing most likely will remain fairly stable if economic factors stay as they are now . If inventory begins to increase then we may see a bit more pressure on pricing . To be kept apprised of the latest LBI market conditions , subscribe to MarkeTrends E Newsletter . ( see below for more details )
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SELLERS : Curious as to your LBI Home Value ? Is now the best time for you to sell ? Start with for our Online Market Evaluation ( see below ). Let ’ s be honest , over the last few years it didn ’ t take a lot of time or talent to sell a home - they sold themselves . Those days are behind us as now it will be imperative for agents to upgrade their marketing programs , constantly monitor the market and sharpen their negotiating skill set . Buyers and sellers need an in-depth understanding of the LBI real estate market today as well as the potential of the LBI real estate market tomorrow . Sand Dollar Real Estate has been through markets like this before , and is always ready to share their knowledge and expertise as we face the new challenges of today . Just check out some of our programs designed to educate buyers and sellers , so you can make the right decisions about purchasing or selling an LBI beach house .
Here are just a few more of our exclusive programs , learn more at : LBIrealestateNews . com
Online Market Evaluation - Answer a few questions about your LBI property and be sent a report chock full of info about current market condition and an in-depth analysis explaining your property ’ s price range of value .
MarkeTrends e-Newsletter - Published twice a year , January & July , our ‘ Crystal Ball ’ forecast on the LBI sales and rental market , along with other LBI topics of interest . Email : PatonLBI @ gmail . com to be added to the subscription list .
Search our Local MLS - Search for your beach house from the same site local Realtors use . Choose pre-defined popular searches or then create your own custom searches . Use quick or advanced search modules or by map location , go to : FreeLBIHomeSearch . com .
Early Buyer ’ s Alert Program - We can make it even easier for you . Fill out a simple form on our website with your preferred buying parameters and be emailed detailed information about every new listing , price and status changes that match from our local Multiple Listing Service - the day they occur .
~ LBI Rental Homeowners ~
Ask for our FREE Rental Review , we will take a look at your rental home and current rental rates & share with you our thoughts and suggestions for a more lucrative & hassle free 2024 rental season .
Unique Rental Programs only available through Sand Dollar Real Estate :
� Golden Sand Dollar program for our upper tier properties including a listing on GlobalLuxuryRealEstate . com
� Posting on VRLBI . com for our exclusive properties , monitored 7 days a week and after hours
� Digital Pictures and Virtual Tour Slide Show along with Print Advertising
� Goody BEACH Bag ’ for your guests . Our gift to you and your guest !
� Personal Interviews ’ to be sure your home and guest are a good match . No automatic bookings .
SAND DOLLAR REAL ESTATE 217 N . Long Beach Boulevard , Surf City 08008 609-494-1130 • SandDollaronLBI @ gmail . com • LBIrealestateNews . com Serving LBI since 1983
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