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

As August rapidly faded into September, we saw another glorious summer come and go. From heat waves to torrential rain to record-breaking ocean water temperatures, we loved every day! We also loved a crazy real estate market with closed sale prices continuing to rise to dizzying heights. Low inventory, high demand and investors seeking to park cash in tangible assets all contributed to an ongoing seller’s market. As the national real estate market begins to show signs of faltering, the Long Beach Island market continues to hold its own. The graphs below exhibit seasonal statistics for Summer 2022. It is anticipated that the trend continues upward as Labor Day signals the start of post-season activity with more homeowners opting to list their homes for sale. 

Barnegat Light

June 2022 July 2022 August 2022 Average New Listings 3 2 2 2.3 Pending Homes 2 3 1 2.0 Closed Sales 2 2 3 2.3 Avg Sale Price $2,025,000 $1,319,500 $1,397,600 $1,580,700 Avg Price Per Sqft $721 $749 $834 $768

 

Harvey Cedars

June 2022 July 2022 August 2022  Average New Listings 4 2 4 3.3 Pending Homes 2 5 0 2.3 Closed Sales 3 6 1 3.3 Avg Sale Price $2,048,627 $2,258,300 $2,000,000 $2,102,309 Avg Price per Sqft $808 $1,100 $755 $888

 

Surf City

June 2022 July 2022 August 2022  Average New Listings 4 5 7 5.3 Pending Homes 1 2 2 1.6 Closed Sales 1 1 2 1.3 Avg Sale Price $3,500,000 $2,400,000 $1,838,250 $2,579,416 Avg Price per Sqft $1,217 $1032 $898 $1,049

 

Ship Bottom

June 2022 July 2022 August 2022  Average New Listings 7 2 7 5.3 Pending Homes 5 0 4 3.0 Closed Sales 8 4 7 6.3 Avg Sale Price $1,325,250 $978,250 $1,264,500 $1,189,333 Avg Price per Sqft $757 $769 $747 $758

 

Long Beach Township

June 2022 July 2022 August 2022  Average New Listings 38 22 16 25.3 Pending Homes 14 12 17 9.0 Closed Sales 24 7 17 16.0 Avg Sale Price $2,250,208 $2,123,300 $1,820,800 $2,064,769 Avg Price per Sqft $928 $976 $891 $932

 

Beach Haven

June 2022 July 2022 August 2022  Average New Listings 3 7 6 5.3 Pending Homes 4 1 1 2.0 Closed Sales 8 3 3 4.6 Avg Sale Price $1,655,750 $2,619,600 $1,866,300 $2,047,217 Avg Price per Sqft $885 $1,416 $910 $1,070

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

 

Featured Listing of the Month

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