LBI real estate market March recap
Hideaway bay trail in Beach Haven Park
Hideaway Bay nature trail that was improved by Long Beach Township following the master plan update in 2017!
Average sale price by last 3 months
Jan: $2,257,000
Feb: $2,968,688
Mar: $2,260,465
March recap
The number of new listings in March matched that of February, with 54 single-family homes and condominiums hitting the market. There are currently 163 homes for sale, and inventory remains a key challenge for buyers in our market.
Activity at open houses increased compared to February, indicating that the spring market is beginning to show signs of life. A total of 36 homes sold this month, up from 21 in February. Days on market also dropped significantly to 37—the lowest level since last November. A few Cape Cod-style homes and aggressively priced properties contributed to this drop, selling within just one week of being listed.
April outlook
we expect continued momentum as more buyers enter the market for the spring season. For buyers, competition may increase as quality inventory remains limited and well-priced homes are moving quickly—some within days. Being prepared with financing and acting fast on desirable listings will be key. Look for homes that have been sitting and are priced over market value. As time goes on there will be less eyes on them and more opportunity to negotiate. For new listings, being prepared with financing and acting fast on desirable listings will be key.
This is a favorable time to list, especially with days on market trending down and buyer activity picking up. Homes that are priced strategically and show well are likely to attract strong interest heading into the heart of the spring market.
Thinking of buying or selling? Let’s chat about how to navigate the current market and make the most of your investment.
