Hello friends and valued clients:
Wishing you and your family lots of "sun and fun" in celebrating our nation's Independence Day. There really is more that unites us than divides us. LBI has a lot of superb spots to see all kinds of fireworks and the best spot we have ever spent is on a boat in the middle of the Barnegat Bay; put that on your must-do list. Unfortunately, our two dogs don't do well on this holiday. After reading this, send us your comments and thoughts on the real estate market or anything else that is on your mind.
Now for a synopsis of the LBI real estate market and also a prognosis. It is not a crystal ball at all but a summary of our observations coupled with data from the NJ Realtors Association. The LBI market follows the national trends and stats of coastal areas. Though the inventory improved slightly from last year, the higher demand still caused an increase in prices. It continues to be a very competitive market but not the crazy multiple-bid scenarios of last year.
Despite price increases of nearly double digits within two years, the demand for homes remains steady. We predict that prices will continue to rise but only in single digit rates at very near the peak. Inventory has slightly increased but not in a sufficient manner to cause a noticeable trend. We feel that the economic slow down, the impact from significant national/world events, and a
low inventory could impact the overall health of real estate on LBI and the surrounding areas.
One last observation from the L&L Team is regarding the time on the market for active listings. Homes that are not priced correctly and in tune with the most recent comparables tend to remain longer on the market. Laura's 30+ years of experience and keen insight into this aspect is what sets us apart from other realtors. When you are ready to buy or sell, make sure you place us on
your must-call list. We will provide you with the most current comparables specific to your neighborhood. Our attention to detail and prompt personal service are also what sets us apart from everyone else. We strive for excellence.
The highest compliment we can ever receive is your referrals to friends, family and associates. We look forward to catching up with you at any of the great beaches, restaurants and shops on LBI.