LBI Residential Real Estate Market Update: February vs. March 2025
The Long Beach Island real estate market picked up momentum in March 2025 after a slower February, with several indicators showing increased activity and renewed buyer interest. Here's a breakdown of how the market shifted from February to March.
Total Sales
February 2025: 19 properties sold
March 2025: 34 properties sold
Sales jumped by nearly 79% from February to March, signaling stronger buyer confidence and the potential start of the spring market surge.
Average Sale Price
February 2025: $2,180,000
March 2025: $2,124,334
While the number of sales increased, the average sale price dipped slightly by about 2.5%, suggesting a broader mix of properties trading hands, including some lower-priced or mid-range homes.
New Listings
February 2025: 57 new listings
March 2025: 57 new listings
The number of new listings remained flat month-over-month, meaning inventory did not grow to match the increase in buyer demand. However, seeing over 50 new listings a month is a trend I hope to see repeated over the next few months.
Sales to List Price Ratio
February 2025: 95.5%
March 2025: 97.6%
This metric increased, indicating that buyers were willing to pay closer to asking prices in March. This could reflect a more competitive market or stronger demand relative to supply. Overall, this is expected as we begin to see an increase in buyer demand for the Spring season. Understandably, many folks would like to close on their new property before the busy summer season begins. As LBI lovers know all too well, summer ends in a blink of an eye!
Median Cumulative Days on Market (CDOM)
February 2025: 85 days
March 2025: 58 days
Homes sold faster in March, with the median days on market dropping by nearly a month. This is a clear sign of increased market activity and quicker decision-making by buyers.
Total Inventory
February 2025: 154 homes
March 2025: 141 homes
Inventory decreased slightly, even with a steady number of new listings, likely due to the higher number of closed sales. This could create more urgency among buyers moving into the spring season. With inventory remaining low and demand high, prices will simply continue to rise.
Key Takeaways
March marked a return to stronger sales performance on LBI, with buyers more active and willing to make competitive offers. The combination of lower days on market and a higher sales-to-list ratio points to a healthier, more balanced market.
If you’re considering buying or selling on Long Beach Island, now is a great time to review your strategy. As the spring market heats up, preparation and timing are key to getting the best results.
Have questions about how these trends affect your real estate plans? Reach out—I am here to help.
Source: Bright MLS® 2025; Residential, Multi-family, and Land Statistics For All of LBI
