What’s Going On On The Island

From an event perspective, we’ve officially hit the off-season “dead zone” on LBI — which means it’s time to make your own fun and take advantage of local winter discounts while they’re here.

I recently tried the early bird dinner at Raimondo’s and thought it was one of the best off-season values if you’re looking to treat yourself. The special includes an appetizer or salad, entrée, and dessert — most options coming in under $40 depending on the dish. I went with the Pork Chop Calabrese and the always reliable Berries & Cream and really enjoyed it. Definitely worth adding to the winter rotation.

Another great cold-weather dining option is Wally’s. If you’re in the mood for a classic diner-style dinner, their off-season specials include an appetizer and entrée for around $22.95 — simple, solid, and always reliable. I especially enjoy their soups.

The biggest buzz in the area right now is the opening of Hollow Pines. I checked it out last week and was genuinely impressed. The atmosphere is modern and lively, offering a nice change of scenery from the typical island feel. The food is consistent with other Tide Table spots — solid and enjoyable — but the drink program is on another level. Craft cocktails, smoked drinks, and a more elevated bar experience put it in rare company locally. It may now be Delaware Ave Oyster House and Hollow Pines in a league of their own when it comes to the elevated drink scene.

If you’re looking for something different this winter, it’s definitely worth checking out. Pro tip: the parking lot can be a bit chaotic — I’d recommend parking across the street until they get that sorted out.

— Beau

What’s Going On In Real Estate

Things are looking up across the board as weather begins to soften and, for the second straight week, we’ve seen inventory increase. We are currently sitting at 94 active homes on the market, and it would be encouraging to see inventory push back into triple digits as we head toward spring.

That said, it’s difficult to predict how high inventory will climb. Buyer demand remains extremely strong, but winter weather has kept activity somewhat suppressed. Through the first 18 days of the month, just 10 homes have gone under contract. To put that into perspective, last February — which had a much milder winter — saw 45 homes go under contract.

Listings, however, are pacing relatively well. We’ve seen 25 new listings hit the market so far this month compared to 48 last February. With demand still waiting on the sidelines, we could be setting up for a very active March. March is typically one of the busier months of the year, and the slower February may ultimately push even more activity into the early spring market.

Of the five homes that went under contract this past week, four were priced under $2 million, reinforcing where the bulk of buyer activity continues to sit. We’ve already put multiple properties under contract this year in that price range off-market, and that trend is continuing.

If you’re a buyer in the under-$2M segment, it’s worth exploring off-market opportunities. Once well-priced homes hit the open market in that range, they can quickly become heavily contested with multiple interested buyers.