LBI Real Estate Market Update
March Recap
Summary
Overall activity picked up in March, consistent with the seasonal trends of recent years. The month saw the highest number of new listings and properties under contract since October, signaling the official start of the spring market. With 60 new listings, the total inventory rose into the low 130s, marking the second consecutive month-over-month increase.
Buying activity remained strong, with 33 contracts written during the month. Well-priced, desirable properties moved quickly: 15 sold in under two weeks and averaged 100.1% of the asking price. The remaining 22 sales took longer—averaging 111 days on market—and closed at 94.8% of list price. This points to growing selectiveness among buyers and more room to negotiate on older listings.
Even within those longer-listed homes, outcomes varied. Two sold at full price despite their time on the market, while others went for as low as 87% of asking—highlighting how bidding strategy and gauging the updated interest level continue to shape each deal differently.
April Outlook
Buyers
April typically brings a seasonal slowdown in activity, with the past three years averaging just 33 sales and 42 new listings. While the market remains competitive, buyers are seeing more opportunity than in recent years. With a wide range of pricing strategies—some properties listed above market value and others priced more fairly—it’s more important than ever to evaluate each home individually.
The key is knowing when to act fast and when to negotiate. New, well-priced listings still move quickly and attract strong offers, while aging properties may offer room to negotiate below market value. With a median of 55 days on market—and 41 homes sitting for over 100 days—there’s growing potential for educated buyers to find value with the right strategy.
Sellers
Sellers aiming to list and sell before the summer season should monitor current market conditions and competing active listings closely to determine the ideal timing and pricing strategy. In many cases, it’s wise to wait for the arrival of spring weather, which brings increased traffic to the island and creates more favorable conditions for showcasing your home.
