Saturday, April 27, 2013

April Home Sales

How are Home sales in April so far? Lets take a look

April 1-April 27 2013=102  of these 31 were Bank Owned

April 1-April 27 2012=99    of these 17 were Bank Owned

April 1-April 27 2011=92    of these 28 were Bank Owned

April 1-April 27 2012=72    of these 4  were Bank Owned

The key number to watch is the Bank Owned sales. When that number starts to decline Home prices should start to firm up.

Saturday, April 20, 2013

New Bern Real Estate-Home Sales 2013

Home sales in New Bern and Havelock through April 20-2013

Total homes sold January 1-April 20 , 2010=301

Total homes sold January 1-April 20.  2011=348

Total homes sold January 1-April 20.  2012=329

Total homes sold January 1-April 20.  2013=375

There are currently 1430 homes listed for sale in our multiple listing service. We are selling homes at a rate of about 140 a month.. A buyers market is defined as more than 6 months of home inventory. It is definitely a buyer’s market as we currently have about 10 months worth of inventory. With that said each neighborhood and price range is unique

Home sales in each neighborhood can vary greatly. Feel free to call or email me if you would like to have a customized absorption rate or a Comparable Market Analysis for your property. 

Home sales in the New Bern-Havelock market are up over last year. However, all of the increase is attributable to Bank Owned homes sold. We are still working through distressed properties in New Bern and I hope by the end of the year the worst will be behind us. Right now, about .07% of the listings on the MLS are Bank Owned. However, 33% of Home Sales through April 20 have been Bank Owned. This number has to, and I believe will, go down. 

Monday, April 01, 2013

New Bern Home Sales

Year to date home sales through March 31, 2013

So far we have had 221 home sales in Craven County. 58 of these sales were $100,000 and under. 112 of these sales were between $100,001 and $200,000. 20 were between $200,001 and $250,000. 16 were between $250,001 and $300,000. 7 were between $300,001 and $400,000. 6 were sold over $400,000. Of these Jana and I sold 3. The most expensive sold has been $943,500. My wife Jana sold that one. 

Last year during the same time we had sold 201 homes. Only 3 were sold over $400,000 and the most expensive home sold was $450,000. 

So all in all the numbers look better but Bank Owned sales are up this year by 18. This accounts for almost all of the increase in sales this year, but I am still somewhat optimistic because of the increase in higher end sales.