LBI Residential Real Estate Market Update: June vs. July 2025
July brought some notable shifts to the Long Beach Island real estate market. While new listing activity increased and prices held steady overall, total sales took a significant dip, likely a reflection of tightening inventory, summer distractions, and adjustments around New Jersey’s newly implemented mansion tax. Learn more about this tax increase here.
Here’s how July stacked up against June 2025:
Total Sales
June 2025: 40 properties sold
July 2025: 24 properties sold
Sales fell by 40%, marking the lowest monthly total since February and 14 homes less than July 2024. This drop may reflect buyer hesitation following the July 10 mansion tax changes, reduced urgency during peak summer, or simply fewer available homes that met buyer criteria or expectations.
Average Sale Price
June 2025: $1,996,863
July 2025: $1,902,855
The average sale price dipped slightly, down about 4.7% from June. This shift likely reflects a different mix of homes closing rather than a dramatic change in pricing power.
New Listings
June 2025: 43 new listings
July 2025: 48 new listings
New listings ticked up slightly, which is typical for mid-summer as some sellers look to capture late-season buyer interest or start preparing for fall.
Sales-to-List Price Ratio
June 2025: 96.2%
July 2025: 97.8%
Despite fewer overall sales, the average sale-to-list ratio increased notably. This suggests that the buyers who did move forward in July were serious and competitive—paying closer to asking price than in the previous month.
Median Cumulative Days on Market (CDOM)
June 2025: 44 days
July 2025: 38 days
Homes that sold in July moved slightly faster, despite lower sales volume. This points to motivated buyers zeroing in on well-positioned properties and acting quickly when the right home came along.
Total Inventory
June 2025: 150 homes
July 2025: 150 homes
Inventory remained level month-over-month, though this figure still includes homes marked Active Under Contract. The number of truly available homes continues to trail behind typical seasonal norms.
Market Insights
Fewer closings but higher competition. A dip in total sales didn't mean weak demand—buyers who did purchase paid closer to asking and moved fast.
Mansion tax timing matters. With New Jersey’s revised mansion tax going into effect mid-month, some higher-end sellers may have delayed closings or relisted with revised pricing.
Inventory pressure persists. Even with a slight rise in new listings, total supply remains tight, keeping the market competitive for well-priced homes.
Looking Ahead
July’s data reflects a market that’s recalibrating mid-summer, adjusting to policy changes, buyer timelines, and seasonal patterns. While the drop in closed sales is significant, stronger price ratios and lower CDOM suggest that interest hasn’t disappeared—it's just more focused.
For sellers, pricing correctly and being proactive about presentation are more important than ever. For buyers, this remains a market where acting fast and having a clear strategy can make all the difference.
Source: Bright MLS® statistics for residential, multi-family, and land sales data
