LBI Real Estate Market Update: Week of July 15, 2026
10 new listings hit the LBI market this week, a solid pulse for a typically slow stretch. 5 homes went under contract, cutting fresh inventory in half.
LBI Market Snapshot
New listings this week: 10
Homes sold/pending this week: 7 under contract & 4 homes sold
Average sale price: $2,713,000
Median sale price: $2,048,000
Average days on market: 22
Average year built: 2002
Price decreases: 8
What Happened This Week
This week reinforced a clear pattern in the LBI market: properties priced in line with comps are selling fast, while overpriced listings are sitting. We saw 10 new listings and 5 go under contract, a strong pace for what's usually a slow season with rental turnovers and vacation schedules limiting showings. All 4 sales this week closed at or over asking price, proof that correctly priced homes in good locations are still moving quickly. At the same time, there were 8 price reductions. That's not a sign of a weakening market. It's sellers testing higher price points and buyers holding firm, waiting for the price to come down to market value rather than overpaying. Demand is healthy, but buyers aren't chasing anything priced above comparable sales.
Neighborhood Spotlight
Surf City is a good example of this in action. 268 N 12th Street went under contract in just 40 days, fast for a property still in the early phases of construction. It was priced right for the 200 block at $3,200,000, and it moved.
One to Watch
29 Amherst in High Bar Harbor just dropped from $3,250,000 to $2,900,000. It's a 2023 build, so the reduction isn't about the age or condition of the home, it's a real test of where buyer demand sits in High Bar Harbor right now. Worth watching how quickly this one moves at the new price. It'll tell us a lot about appetite in that part of the island heading into fall.
What This Means for Buyers
Buyers have more room to be selective than in recent memory, since a good portion of current inventory is priced above market. That said, well-priced homes in strong locations are still going quickly, so buyers need to move with confidence and a clear sense of value when the right property comes along.
What This Means for Sellers
Pricing correctly from day one is the single biggest factor in selling within the first month right now. Homes priced to comps are seeing multiple offers and closing at or above ask. Homes priced above comps are sitting until sellers adjust. This isn't a soft market, it's a market that's punishing overpricing more than usual. Sellers should also expect a fairly even mix of cash and financed buyers, and with sellers still holding most of the leverage, quick closings or seller-preferred timelines remain common.
Looking Ahead
Given current pricing trends and buyer behavior, I expect appreciation to land closer to 4% this year, below the historical LBI average of around 8%. It's a healthy market, just a more disciplined one, where pricing accuracy matters more than it has in past years.
Sale of the Week
30 N 3rd Street in Surf City, a 2025 oceanblock build, sold for $3,800,000. New and newer construction in Surf City continues to outpace last year's range of $3,200,000 to $3,500,000.
Buying or Selling on LBI?
Thinking about buying or selling on LBI? Reach out anytime.
Cell: 609-496-1423
Email: mcappo@vandykgroup.com
