LBI Residential Real Estate Market Update: May vs. June 2025
The summer market on Long Beach Island is in full swing, and June brought another month of solid activity. While buyer demand remains steady, inventory continues to fluctuate, and pricing is showing subtle shifts. Here’s how June stacked up against May 2025:
Total Sales
May 2025: 38 properties sold
June 2025: 40 properties sold
Sales increased modestly, showing continued buyer interest despite limited new inventory.
Average Sale Price
May 2025: $2,059,882
June 2025: $1,996,863
The average sale price dipped by about 3%, likely reflecting a broader mix of properties selling, including more entry-point or mid-tier homes.
New Listings
May 2025: 46 new listings
June 2025: 43 new listings
New listing activity held relatively steady, but remained below typical summer levels—indicating that sellers are still cautious.
Sales-to-List Price Ratio
May 2025: 96.4%
June 2025: 96.2%
The ratio held strong and stable, with buyers continuing to pay close to asking.
Median Cumulative Days on Market (CDOM)
May 2025: 43 days
June 2025: 44 days
Homes sold at nearly the same pace—just one day longer than in May—underscoring consistent buyer engagement.
Total Inventory
May 2025: 155 homes
June 2025: 150 homes
Inventory fell about 3%, as sales continued to outpace new listings—and again, this count includes Active Under Contract homes, meaning true available inventory is tighter.
Market Insights
Demand remains firm. The modest increase in sales with stable pricing shows buyers are actively participating in the summer market.
Pricing remains strong. Despite a slight dip in average price, the sale-to-list ratio remains robust, indicating a competitive environment.
Inventory is tightening. With fewer homes available, even accounting for those already under contract, buyers face limited options, which can fuel urgency and competition.
Seller’s market persists. Well-priced, turnkey homes continue to attract attention quickly, making now a potentially strategic time to list.
Looking Ahead: NJ Mansion Tax Goes Into Effect
New Jersey’s revised mansion tax structure goes into effect July 10, 2025, shifting the cost from buyers to sellers and increasing the rate on homes priced over $1 million—up to 3.5% on properties over $3.5 million.
On LBI, where many homes fall within that range, this could have a real impact on seller behavior, pricing strategies, and overall inventory. We may see:
Sellers holding off or adjusting pricing to account for the added closing cost
More pressure on price bands just under the tax thresholds
Continued tight inventory as high-end sellers become more cautious
It will be interesting to watch how the market responds as this change takes hold in July and beyond.
What It Means for You
For sellers, it’s more important than ever to understand your net proceeds and list strategically. For buyers, the window to act before any further pricing shifts could be narrow—especially as inventory remains limited.
Have questions about how this affects your goals? Let’s talk.
Source: Bright MLS® statistics for residential, multi-family, and land sales data
