A Message from Michelle discussing the September 2022 Market Report Long Beach Island NJ…

The Fall selling season is in full swing. Buyers who have waited patiently for an increase in inventory will be disappointed to see that new listings have generally declined compared to September 2021 and owners who have enjoyed summer in their LBI homes and have decided to sell discover that it’s still a strong Sellers’ market! Overall data is also showing decreased pending sales and closed sales in all municipalities except for Harvey Cedars. Average sale prices are inconsistent with higher sale prices for new construction skewing numbers; however, the trend upward remains. As a possible recession looms, LBI has always been the last to feel the pinch and the first to recover, bolstering Buyer confidence.

Barnegat Light

September 2021 September 2022 Average New Listings 6 2 4.0 Pending Homes 1 2 1.5 Closed Sales 1 – 1.0 Avg Sale Price $1,425,000 – $1,425,000 Avg Price Per Sqft $578 – $578

 

Harvey Cedars

September 2021 September 2022 Average New Listings 1 7 4.0 Pending Homes 2 7 4.5 Closed Sales 3 – 3.0 Avg Sale Price $1,676,667 – $1,676,667 Avg Price Per Sqft $1,012 – $1,012

 

Surf City

September 2021 September 2022 Average New Listings 8 2 5.0 Pending Homes 5 3 4.0 Closed Sales 4 2 3.0 Avg Sale Price $1,836,500 $1,349,500 $1,593,000 Avg Price Per Sqft $823 $763 $793

 

Ship Bottom

September 2021 September 2022 Average New Listings 15 5 10.0 Pending Homes 8 5 6.5 Closed Sales 8 5 6.5 Avg Sale Price $747,425 $1,146,600 $947,013 Avg Price Per Sqft $622 $761 $692

 

Long Beach Township

September 2021 September 2022 Average New Listings 30 25 27.5 Pending Homes 32 12 22.0 Closed Sales 39 18 28.5 Avg Sale Price $1,711,503 $2,308,972 $2,010,238 Avg Price Per Sqft $826 $1,030 $982

 

Beach Haven

September 2021 September 2022 Average New Listings 9 7 8.0 Pending Homes 7 5 6.0 Closed Sales 4 1 2.5 Avg Sale Price $1,193,750 $717,500 $955,625 Avg Price Per Sqft $819 $700 $760

*Single family home information provided by Bright MLS. September 2022 Market Report Long Beach Island NJ. Previous reports available on website.

 

Click here to review last months statistics.
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