Friday, February 21, 2014

New Home sales in New Bern

What is the trend so far this year in new home sales? Well, lets take a look. For New Bern, and all of Craven County up to 2-20 there have been 15 new construction sales. The average sales price was $181,727. All but a few of the homes sold were located in Township 7 which is South of the Trent River. I am willing to bet all of the sales in Township 7 were to young Marines. 

So, How does this compare to prior years during the same time period? 


If you remember in an earlier blog I predicted that new home sales would continue to decline by a small percentage until the local economy started to improve in a meaningful way. Better economy equals more jobs. More jobs mean more folks will be able to buy their first home, or that their their business will be doing better and they will be able to trade up to a nicer home. I am confident that the economy in Craven County will improve and that the worse is behind us. 

My crystal ball shows a slow but steady improvement in the overall real estate market in New Bern, but there will be some glitches along the way. New home construction will likely lag behind the overall market.

Have a great day,

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