Thursday, May 07, 2009

Home sales in New Bern

316 homes were sold from January 1, 2009- April 30. That is off from 477 January 1, 2008- April 30, 2008. That is about a 34 % decrease in home sales. If you look at just new home sales during this same period they are down by 25%.

What does all this mean? Well for buyers it is good news. Great selection of homes to choose from and the lowest interest rates in 60 years. For sellers it is a different story. It is a falling market. If you need to sell forget about the price your neighbor sold their house for in 2006. Not goning to happen. Find a good broker who will do an honest and accurate market analysis and listen to what they say. Do not let a broker buy your listing. There are plenty of overpriced homes out there and you don't want yours to be one of them.

If your market analysis comes up for less than you want to sell it for than consider renting your house or staying put untilthe market recovers. Not much else you can do. Please feel free to contact me if you need more information or advice.

Steve Tyson
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