January 2023 Market Report Long Beach Island NJ

A Message from Michelle discussing the January 2023 Market Report for Long Beach Island NJ…

President’s Weekend is upon us and the traditional start of our Spring selling season has begun on Long Beach Island. The housing market is warming up along with the weather. Buyers who have previously been sitting on the sidelines are ready, willing and able to purchase their home at the Shore! Multiple offers are back again for those most desirable homes. Sale prices continue to escalate, however, closed sale numbers have decreased thanks to a dismally low inventory. As of this writing (2/17/23), there are 130 active listings. Data for 2021 showed 535 closed sales for single-family homes whereas 2022 showed a 34% plunge to 351 closed sales. Only the lack of inventory is holding LBI back from a robust Spring. Check out our January 2023 Market Report Long Beach Island NJ below.

Barnegat Light	January 2022	January 2023	Average
New Listings	1	–	1.0
Pending Homes	2	2	2.0
Closed Sales	2	–	2.0
Avg Sale Price	$1,814,100	–	$1,814,100
Avg Price Per Sqft	$921	–	$921

Harvey Cedars	January 2022	January 2023	Average
New Listings	2	1	1.5
Pending Homes	0	2	1.0
Closed Sales	1	1	1.0
Avg Sale Price	$3,200,000	$132,000	$1,666,000
Avg Price Per Sqft	$801	$132	$467

Surf City	January 2022	January 2023	Average
New Listings	4	8	6.0
Pending Homes	3	3	3.0
Closed Sales	6	–	6.0
Avg Sale Price	$1,449,000	–	$1,449,000
Avg Price Per Sqft	$680	–	$680

Ship Bottom	January 2022	January 2023	Average
New Listings	8	5	6.5
Pending Homes	7	2	4.5
Closed Sales	4	3	3.5
Avg Sale Price	$720,375	$1,653,333	$1,186,854
Avg Price Per Sqft	$543	$1,015	$779

Long Beach Twp.	January 2022	January 2023	Average
New Listings	22	27	24.5
Pending Homes	14	7	10.5
Closed Sales	19	11	15.0
Avg Sale Price	$1,881,447	$2,267,727	$2,074,587
Avg Price Per Sqft	$768	$918	$843

Beach Haven	January 2022	January 2023	Average
New Listings	7	6	6.5
Pending Homes	4	2	3.0
Closed Sales	4	3	3.5
Avg Sale Price	$1,469,000	$1,920,000	$1,694,500
Avg Price Per Sqft	$985	$753	$869

*Single family home information provided by Bright MLS.

Click here to review last months statistics.
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Curious? Here are the top 10 homes sold in the last 180 days

9/1/23	Sold price	$9,975,000	93-A&B Long Beach Blvd, Loveladies
	List price	$9,975,000
10/1/22	Sold price	$6,300,000	161-F Long Beach Blvd, Loveladies
	List price	$6,500,000
8/3/23	Sold price	$6,000,000	1117 Long Beach Blvd, North Beach
	List price	$6,500,000
1/25/23	Sold price	$5,600,000	6703 Ocean Blvd, Brant Beach
	List price	$5,795,000
11/10/22	Sold price	$5,000,000	1017-C Long Beach Blvd, North Beach
	List price	$5,850,000
10/28/22	Sold price	$4,995,000	1049-C Long Beach Blvd, North Beach
	List price	$4,995,000
10/21/22	Sold price	$4,600,000	12315 Ocean Ave, The Dunes
	List price	$4,895,000
10/14/22	Sold price	$4,250,000	166-G Marina, Loveladies
	List price	$4,495,000
12/23/22	Sold price	$4,200,000	4 E Arts Ln, Loveladies
	List price	$5,495,000
8/4/22	Sold price	$4,000,000	107-D Long Beach Blvd, Loveladies
	List price	$4,495,000

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What I’m interested in…

9th whale to wash up on the Jersey Shore

Update on last month’s whale story. Sadly we’re seeing more and more whales washing up on our beaches. While we appreciate our local mayors for addressing this problem, more needs to be done. New Jersey already has more than half a dozen different whale species, including the Humpback, on their wildlife protection list. Locals are coming together to question whether the offshore wind farms are responsible for the unusually high number of dead whales washing ashore. A rally by the group Protect Our Coast-NJ is planned for Sunday, February 19th at 1 pm in front of Jenkinson’s Aquarium on the Point Pleasant boardwalk… Continue reading for News12 New Jersey article

Source: News12 New Jersey
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Follow the below links to find your next home!

Search Barnegat Light	Search Ship Bottom
Search Harvey Cedars	Search Long Beach Township
Search Surf City	Search Beach Haven

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©2024Michelle DeGennaro, REALTOR®