LBI real estate market January recap

Snow on LBI in January 2025

The Long Beach Island real estate market remained active this month, with homes selling relatively quickly and at strong price points. Below is a breakdown of key market takeaways based on the latest data.

New Listings vs. Sales

• Single-family homes listed: 30 | Sold: 29

• Condos listed: 4 | Sold: 3

With nearly as many homes sold as listed, inventory remains tight, contributing to competitive market conditions.

Days on Market

• Single-family homes: 55 days on average

• Condos: 58 days on average

Homes are moving efficiently, reflecting steady buyer interest and demand, particularly for well-priced listings.

Sale Price Trends

• Average sale price (Single-family): $2,234,103

• Average sale price (Condos): $1,553,333

• Sale price vs. original list price (Single-family): 96.5%

• Sale price vs. original list price (Condos): 97%

While negotiation is still a factor, properties are generally closing close to their asking prices, with some highly desirable listings even exceeding their original list price.

Market Outlook

The LBI real estate market remains dynamic, with continued strong demand for homes on the island. Despite fluctuations in individual sales, demand persists, particularly for sought-after locations and well-priced listings. With inventory levels remaining low, the market continues to present opportunities for both buyers and sellers navigating current trends.

Stay tuned for next month’s market update with the latest insights.