Insider Knowledge For Smart Property Decisions
The real estate market on LBI has shown steady growth throughout 2024, with promising projections for 2025. The LBI housing market is competitive, with homes typically selling within 52 days. Looking ahead to 2025, home prices in New Jersey are forecasted to increase by 2-4%, although growth rates may moderate in subsequent years. Mortgage rates are expected to stabilize at around 6.3%, potentially boosting buyer confidence and supporting continued market activity. Additionally, an increase in all-cash buyers is anticipated, reflecting accumulated housing equity gains.
The Long Beach Island real estate market in February 2025 reflected a strong and competitive environment, further fueled by declining interest rates. As borrowing costs eased, more buyers entered the market, driving increased demand. This shift created a sense of urgency, with properties selling faster and sellers benefiting from heightened competition.
With inventory remaining tight, well-priced homes continued to attract strong interest, often receiving multiple offers. The combination of lower rates, rising demand, and limited supply has positioned the market favorably for sellers while encouraging buyers to act quickly to secure desirable properties.
Inventory levels may rise modestly but are projected to remain relatively low, sustaining a competitive market environment. Broader economic factors, such as interest rates and regional economic health, will continue to influence the market dynamics. Given LBI's reputation as a desirable coastal destination, its real estate market is expected to remain active in the near future.
Smart Investment tip : Custom homes built with premium design, craftsmanship, construction methods, & materials hold their value better and require fewer costly repairs than mass-produced homes.
Read More in Our LBI Real Estate Newsletter.
