Tuesday, October 28, 2014

The Weekly New Bern Real Estate News Report



This week we will look back at homes sales in all of Craven County year to date. We are looking at average sales price, volume of sales, and days on market before closing. first lets look at New Home Sales. 

New Home Sales


New Home Sales  1-1-14 thru 10-24-14=134
Average sales price=$194,116
Highest sales price=$430,000, this was in Carolina Colours.

New Home Sales  1-1-13 thru 10-24-13=155
Average sales price=$188,352
Highest sales price=$510,000, this was in Stillwater Harbour on the water.

Sales volume was down by 13.5%
Average sales price was up by 3%

Even with sales volume down 13.5% from last year there are still to many new homes being built. There are currently 84 new homes listed for sale in the MLS. Thats way to many, especially for this time of year. Most of the new homes are being built are under $200,000 targeted to young Marines.

Home sales under $200,000

Home Sales  1-1-14 thru 10-24-14=551
Average sales price=$122,528
Average days on the market before a sale=138

Home Sales  1-1-13 thru 10-24-13=524
Average sales price=$118,890
Average days on the market before a sale=150

Sales volume was up by 5%
Average sales price was up by 3%

This price home seems to be the best selling price right now. Even so, there are currently 473 homes for sale priced between $50,000 and $200,000.

Home sales $200,000-$300,000

Home Sales  1-1-14 thru 10-24-14=130
Average sales price=$240,591
Average days on the market before a sale=146

Home Sales  1-1-13 thru 10-24-13=141
Average sales price=$$238,794
Average days on the market before a sale=185

Sales volume was down by about 1%
Average sales price was up by less than 1%

Home sales $300,000-$400,000

Home Sales  1-1-14 thru 10-24-14=53
Average sales price=$326,617
Average days on the market before a sale=153

Home Sales  1-1-13 thru 10-24-13=32
Average sales price=$333,231
Average days on the market before a sale=248

Sales volume was up by 65%
Average sales price was down by 2%

Wow, sales volume was up by 65%. And average days on market is down significantly. About the only negative I can see here is that there are currently 79 homes for sale in this price range and that is a lot of inventory. That might be what is keeping average sale price down some. 

Home sales $400,000-$500,000

Home Sales  1-1-14 thru 10-24-14=16
Average sales price=$420,464
Average days on the market before a sale=145

Home Sales  1-1-13 thru 10-24-13=16
Average sales price=$424,267
Average days on the market before a sale=294

Sales volume was up by 0%
Average sales price was down by less than 1%

There are currently 32 homes for sale in this price range. Thats a lot of competition and if you want to sell in this price range you need have a special product and be priced right. Call Steve or Jana if you are in this price range and we will be glad to offer some advice on how to trump the competition.

Home sales over $500,000

Home Sales  1-1-14 thru 10-24-14=15
Average sales price=$610,132
Average days on the market before a sale=226

Home Sales  1-1-13 thru 10-24-13=19
Average sales price=$654,400
Average days on the market before a sale=290

Sales volume was down by 21%
Average sales price was down by 6.7%

Ouch, 57 homes for sale in this price range. There is just a lot of competition. To many homes chasing to few buyers. You better hire a Realtor that will tell you the truth and not what you want to hear if you are selling in this price range.



If you have any questions about any of this data give me a call. Want to know what your home is really worth in todays market? Give us a call at 252 514 9157.

For all your Real Estate needs go to New Bern Real Estate





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