Friday, January 11, 2013

How did New Construction do in 2012?

New Home Sales in Craven County for 2012


Home building and land development is a very important industry in Craven County. It provides employment for quite a few folks and each home built or parcel of land developed  adds to the tax base. Additionally, think of all the other jobs home building affects. Although I have been a licensed Real Estate Broker since 1979 I built homes for 15 years. It is a tough, demanding, and risky business. But at the same time it can be a very satisfying way to make a living. I still proudly point out the homes I built when I pass by them with real estate clients.

So, how did new construction fare in Craven County in 2012 as compared to prior years? Let's take a look.

2012=223 new homes sold

2011=228 new homes sold

2010=297 new homes sold

2009=300 new homes sold

2008=328 new homes sold

2007=504 new homes sold

2006=676 new homes sold

2005=679 new homes sold

2004=288 new homes sold

This is as far back as I can go with my research but I would guess the number of new homes sold  in 2003 was around 230 and 2002  around 215.

Below are new homes sold in 2012 by price range.




Over $250,000=12

Who bought these new homes?

I am going to take a SWAG and say that at least 60 percent of new homes were purchased by active duty military and another 10 percent by civilians that work on Cherry Point. I came up with this number by looking at the areas where the homes were sold and using my knowledge of the particular neighborhoods. I bet I am not off by much. Think Cherry Point is not important to this area? Think again. Please note that these numbers do not reflect any custom homes built that were not entered into the MLS but I have not seen many custom homes going up in the past year. 

2012 was the seventh straight year that the number of new homes built have decreased. I am fairly confident that we could break that trend in 2013. Lets hope so

If you have any questions on this data please feel free to contact me at 514 9157..