Long Beach Island New Jersey Real Estate | LBI NJ Real Estate | Nathan Colmer

LBI Real Estate and Coronavirus

Nathan Colmer | Van Dyk Group

C: 609.290.4293 | O: 609.492.1511

LBI Real Estate and Coronavirus

 

The LBI real estate market is on fire and Coronavirus is the reason. While there are other factors at play, for example low interest rates and the historical stability of the real estate market on Long Beach Island, there is little doubt that the real catalyst is COVID-19. Buyers and sellers alike need to understand this new market to avoid making a costly mistake.

 

 

LBI Real Estate and Coronavirus

LBI Real Estate Buyers

 

 

 

Coronavirus and the Long Beach Island New Jersey Real Estate Market

One thing is clear, we are in uncharted waters. While of course the safety of all those who live and visit LBI is of the utmost importance, just about everyone wants to know how will the Coronavirus impact the LBI real estate market. Since the Coronavirus appeared, we have seen turmoil throughout the world and the financial market and nobody know how long or how far the impact will go. That said, there are some local trends we can use to draw conclusions on the impact of the Coronavirus in the near and long term. The LBI real estate market is historically a stable market and the rental market may actually see an increase as travel abroad is restricted. Inventory levels are at some of the lowest points seen in the last 10 years (source Jersey Shore MLS) which can lead to higher levels of buyer activity.

LBI Real Estate and Coronavirus

What Does the Past Tell Us About The Future of the Long Beach Island Real Estate Sales Market

It is fair to say that people are scared, especially with the memory of the 2008 financial crash still being so fresh. While a drop in prices could be the outcome of the coronavirus, there are also some major differences between that market crash and this one. These differences could actually prove to stabilize or even increase the market!

This is very similar to the national sentiment after 9/11. While I was in my senior year of high school when those terrible attacks took place, I remember many similarities between that time and today. People were concerned about travel, congregating in groups was being limited (for fear of another terrorist attack), spending slowed down, and fear reigned supreme. This sounds similar to what we are experiencing today. Something else happened, home prices rose. The average price of a single-family home on Long Beach Island in 2000 was $416,000. In 2001 it was $483,000, in 2002 it was $591,000, and by 2003 it was $750,000! There was an INCREASE of roughly 22% from the price of a home in 2001 to the price of a home in 2002 in the LBI real estate market.

We are in a seller's market, there is no doubt of that. Buyers need to be very careful to not overpay for a home that will not retain value on Long Beach Island. Likewise, sellers need to know how their home fits into this new environment.

 

 

LBI Real Estate and Coronavirus


Long Beach Island Real Estate New Listings and COVID Inventory Levels

Long Beach Island Real Estate Inventory Levels Long Beach Island Real Estate Coronavirus has had an impact on the entire world and the real estate market on Long Beach Island is no exception. While initially activity levels dropped off with travel restrictions being in place, sales and rentals on Long Beach Island exploded to see

 

 

 

LBI Real Estate and Coronavirus

Selling A Long Beach Island Home During COVID

Why Coronavirus May Create an Opportunity to Sell Your LBI Home Click here to search all homes for sale in the Long Beach Island NJ real estate market Selling Long Beach Island Real Estate During Coronavirus Coronavirus or COVID-19 dominates the news and the minds of everyone these days. The LBI real estate market is

 

 

 

LBI Real Estate and Coronavirus


Low Inventory Levels in the LBI Real Estate Market

Long Beach Island Real Estate Low Inventory Levels Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate Homes for Sale The Long Beach Island real estate market is on fire right now. Buyers are very active, and confidence seems to be high. Coronavirus or COVID-19 has created a high demand in a low inventory market.

 

 

 

LBI Real Estate and Coronavirus

Price Reductions and Buying Opportunities in the LBI Real Estate Market

Monitoring Long Beach Island Real Estate Price Reductions for Buying Opportunities Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate When buying a home in the LBI real estate market, it is natural to want the best deal. While many assume that Coronavirus and COVID-19 will hurt the market, the truth is prices are holding or going up.

 

 

 

LBI Real Estate and Coronavirus

LBI Real Estate, COVID-19, and Technology

Long Beach Island Real Estate Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate We are indeed living in unprecedented times. Coronavirus, or COVID-19, has changed how we all live our lives and conduct business. The LBI real estate market is no

 

 

 

LBI Real Estate and Coronavirus

Why This May Be A Good Time To Sell in the LBI Real Estate Market

Selling a Home on Long Beach Island New Jersey Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate It seems you cannot turn on the news today without hearing about coronavirus or COVID-19. This unfortunate pandemic has impacted the entire planet individually,

 

 

 

LBI Real Estate and Coronavirus

Selling LBI Real Estate Virtually

Selling Long Beach Island Real Estate During Coronavirus Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate While many aspects of our lives have been altered by coronavirus or COVID-19, people are still buying a selling homes. Therefore, agents and sellers in

 

 

 

LBI Real Estate and Coronavirus

Long Beach Island Short Term Rental Ban

Rental Ban in the LBI NJ Real Estate Market Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate Rental Ban Coronavirus or COVID-19 has changed just about every aspect of life as we know it. The LBI real estate market is no

 

 

 

LBI Real Estate and Coronavirus


Are LBI Real Estate Sellers Reducing Prices?

Price Reductions and Coronavirus in the Long Beach Island Real Estate Market Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate It is clear that we are in a recession and with all the negative news it is understandable why some buyers

 

 

 

LBI Real Estate and Coronavirus

Why LBI Real Estate Home Values Will Be Ok

Coronavirus and Home Values on Long Beach Island Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate With the recent crash in equities and the Great Recession of 2008 and 2009 still fresh in our memory, it is easy to understand why

 

 

 

LBI Real Estate and Coronavirus

Inventory Remains a Challenge in the LBI Real Estate Market

Inventory Levels, Not Coronavirus, Prove a Challenge to the Long Beach Island Real Estate Market Long Beach Island Real Estate and the Number of Homes for Sale While the real estate news today is almost non-stop reporting on the coronavirus, there is an even greater difficulty facing buyers on Long Beach Island. Inventory Remains....

 

 

 

LBI Real Estate and Coronavirus

Are LBI Real Estate Sellers Reducing Prices?

Price Reductions and Coronavirus in the Long Beach Island Real Estate Market Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate It is clear that we are in a recession and with all the negative news it is understandable why some buyers...

 

 

 

LBI Real Estate and Coronavirus

Fewer Showings in the LBI Real Estate Market

Less Showing Activity in the Long Beach Island Real Estate Market Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate Thanks to the coronavirus, we are experiencing fewer showings in the LBI real estate market. While some of this may be a...

 

 

 

 

LBI Real Estate and Coronavirus

Why the LBI Real Estate Market Won’t Crash

Stability in the Long Beach Island Real Estate Market Long Beach Island Real Estate It is hard today to stay calm in the face of updates, 10% swings in the stock market and talk of a national or global recession. The Great Recession of 2008-2009 or so is still relatively fresh in everyone’s minds and...

 

 

 

LBI Real Estate and Coronavirus

How Will The Coronavirus Impact the LBI Real Estate Market

Long Beach Island Real Estate and the Coronavirus Long Beach Island Real Estate One thing is clear, we are in uncharted waters. While of course the safety of all those who live and visit LBI is of the utmost importance, just about everyone wants to know how will the Coronavirus impact the LBI real estate...

 

 

 

LBI Real Estate and Coronavirus

Will Coronavirus Stall the LBI Real Estate Market?

Long Beach Island Real Estate and the Coronavirus Long Beach Island Real Estate With the recent drop in the financial market, it is easy to understand why some buyers think the Long Beach Island real estate market will slow down or stall. This is a normal reaction in the face of the terrible news we have been receiving....

 

 

 

LBI Real Estate and Coronavirus

Coronavirus and the LBI Real Estate Market

Long Beach Island Real Estate and the Coronavirus Long Beach Island Real Estate and the Coronavirus The past few weeks and months have been a roller coaster throughout the world. Unfortunately, the Coronavirus has caused thousands of deaths and untold panic. The effect of this fear is undeniable as we have seen financial markets fall, most financial...

 

 

 

LBI Real Estate and Coronavirus

Three Reasons Why The LBI Real Estate Market Will Not Slowdown

Long Beach Island Real Estate and Recession Pricing Long Beach Island Real Estate It is fair to say that we are in uncharted territory and I personally believe we are in a recession. What is less clear is how bad things will get and specifically, how will coronavirus and a recession impact the Long Beach...

 

 

 

LBI Real Estate and Coronavirus

Will We See LBI Real Estate Distressed Sales?

Long Beach Island Real Estate Short Sales and Foreclosures Long Beach Island Real Estate Will We See LBI Real Estate Distressed Sales? With the coronavirus numbers growing and the stock market falling this is a concern on the minds of many buyers. Short sales, bank owned real estate and foreclosures are shockingly low in the...

 

 

 

Real Estate Note

These are scary and unprecedented times. They will change out mindset and national opinion. But they will pass. Eventually the coronavirus will be under control and life will return to normal. We just have to stay safe, strong and pay attention to what matter most in life.

 

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Your LBI Beach House is a Phone Call Away! Call Nathan Colmer 609-290-4293

Nathan Colmer

609.290.4293

ncolmer@vandykgroup.com

The Van Dyk Group

12800 Long Beach Blvd

Beach Haven Terrace NJ 08008

609.492.1511