Sunday, June 21, 2015

New Bern-Craven County Home sales.

New Bern May Home Sales

Wow, hard to believe it is already the middle of June. Seems like time is flying this year. I have never seen it get so hot this early in the summer.

You can see from the numbers below that sales were down about 13 percent in May as compared to last May. If you remember at the end of April home sales were up 28% year to date. 

Home sales for the month of May

May 2015= 95 sales     Average sales price was $183,078

May 2014= 108 sales   Average sales price was $173,607

May 2015= 107 sales     Average sales price was $168,070

May 2015= 81 sales     Average sales price was $182,011

Still some good news!

Home sales year to date, as of the end of May, are still up 19%. Also average sales price is up slightly for the year. I am still feeling good about the prospects of a good year.

Bank Owned sales are up year to date and I hope this number will start to decline soon. We all know home ownership creates stable neighborhoods.

Interest rates are trending up and are currently about 4% on a 30 year loan. Lenders are still lending money and we have a good selection of inventory. Great time to buy as it is still a buyers market but that is changing.

It will be interesting to see what the numbers look like for June. I think that will set the tone for the year. If June sales are down over last June, we may have a problem.

If you have any questions about this data please give us a call, or go to my website, 

Sunday, May 17, 2015

New Home sales in New Bern

New Home Sales 

The past 9 years have been very challenging for home builders in this area as well as most of the country. Many small and medium size builders have left the business and along with them a lot of skilled tradesmen. In fact, so many tradesmen have left the industry that when the housing market recovers and there is a demand for more new homes to be built, we will have a problem finding the labor to build them. This could become a serious problem.

While the demand for new homes has been down, the cost to build them keeps going up. Builders have done a good job trying to contain cost, however increases in building materials combined with the never ending introduction of new building regulations continue to push the cost of new construction up.

New Homes sold by year








As you can see there has been a precipitous decline in new home sales over the last 7 years. I believe that last year will be the low mark for new home sales in our market. We should see a small but steady uptick in new home sales in the next few years. Why do I say this? Call it Realtors intuition. Actually it is a combination of clients that I have been working with over the past few months as well as some top secret research I have been doing.

As a former home builder I will attest that building homes is a tough, competitive business. While I can't say I miss it, I will say there is a lot of pride and satisfaction when I ride by a home I built 30 years and thinking to myself, I did built that house Mr. President.

If you have any questions about Real Estate, give me a call or visit our website at

Also, catch my show on CTV10 on Fridays, 8-9. We talk about government, business and  politics.

Sunday, April 26, 2015

New Bern Home Sales

Let's look at the latest Housing news in the New Bern area

Homes sales through 4-26 in various years

Average Sales Price=$154,754

Average sales price=$158,481

Average Sales Price=$154,345

Average Sales Price=$164,144

Nice, sales volume is up 28% year to date.

Sales are up and that was not unexpected as we have been very busy this year. And based on the volume of my website hits, I expect this  trend to continue. 

More and more folks from all over the country are discovering, visiting, and liking New Bern. Rarely does a day go by that I don't get a call from someone who has heard about our wonderful town from a friend or found us on the internet. Being recently designated as one of North Carolina's Certified Retirement Communities will bring ever more exposure.

Sales tax and the Occupancy tax are both up. Many of our largest employers in the county are hiring again. This will eventually help sales as well as the rental market. Yes, there are still challenges in the housing market. The average sales price is not moving up, at least not yet. I believe this will change before the end of summer, inventory has tightened and will likely continue to do so. It is not as easy to find a great deal on a house as it was in prior years.

Join me Friday morning on CTV 10 at 8:00 am as I will be talking to Mayor Dana Outlaw and Mayor Chuck Tyson about the economy, taxes, and many other local issues. 

Don't forget to check out my website, if you or someone you know are looking for real estate.

Have a great week

Tuesday, March 24, 2015

This Friday on All about Craven we have a very exciting lineup for you.
The Taxman cometh. Craven County Tax Assessor Ron Antry will talk about the upcoming property tax revaluation.
Then superstar inventor Ron Pontiff will tell us how easy, or not, it is to patent your ideas and inventions.
Also the “sage of sports” Lee Moore will give us his predictions on the NCAA tournament and the Masters.
Check it out Friday 8-9 A.M. CTV10

Sunday, March 22, 2015

New Bern Historic Homes for sale

Historic Homes for Sale in downtown New Bern

Seems like everyone wants to live in historic downtown New Bern these days. And no doubt, it is quite nice to be able to walk to a coffee house, restaurants, church, live entertainment, the library, and much more. Why would you not want to live downtown?

The photo below shows most of the downtown historic district. The Neuse  and Trent Rivers are accessible via Union Point Park and city sidewalks connect most of the historic district including the waterways.

Not show in the photo above are 3 marinas with deep water that are within walking distance of downtown. Works perfect for power boaters and sailors. Below is a photo of the marina located behind the Double Tree Hotel.

For a list of current homes for sale in the downtown New Bern historic district click the link below.

New Bern Historic Homes for sale

Let us know how we can be of assistance. Steve was born and raised in New Bern and knows the area well. We are here to help.

And for all of your real estate needs go to

Sunday, March 08, 2015

New Bern Home Sales-2015 year to date

Has the crazy weather put a damper on housing sales in New Bern? 

Let's take a look

Home sales-January 1-February 28 2015
Total sales=160
Average sales price=$157,553
Average days on Market=193
Bank owned sales=57-"Ouch" Way to many

Home sales-January 1-February 28 2014
Total sales=139
Average sales price=$160,284
Average days on Market=185
Bank owned sales=36

Total sales up almost 13%  year to date. However, if you extract Bank Owned sales, the remaining home sales were actually down slightly. That concerns me. Is the "shadow inventory" of bank owned homes now being pushed through the pipeline and into the market? Some experts have predicted that banks were holding back their foreclosure inventory to release incrementally. This  is where the term "shadow inventory" comes from. I called a couple of Realtors I know that specialize in listing bank owned properties. They told me "No", they were not seeing a rush by banks to unload a bunch of properties. At any rate, we will be watching this number closely.

The charts below demonstrate that it is still a buyers market in Craven County. In my opinion there are some dynamics taking place right now that will change this, but it will not happen overnight. 

Click On Photos to Enlarge

Current Absorption Rates by Neighborhood

Below is a chart showing home sales in Craven County for the last 2 years. Sale, month to month have remained pretty consistent.

Did you know the home affordability index is incredibly high right now? Interest rates are low, under 4% and home prices are reasonable,  I remember trying to sell homes when mortgage rates were over 17%. It is a great time to buy a home, if you plan on living in it for more than a few years. Two years or less, think I would rent.

For all of your Real Estate needs go to

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Scan QR Code or text KW2HMCM8Q to 87778

Have a Great Day,
Steve and Jana J.

Monday, February 16, 2015

New Bern Equestrian Estate for sale

OK Folks, Here's a Deal that is UNBELIEVABLE! The owner of this house is sacrificing this property due to a job change. It is about 25 minutes from downtown New Bern, 20 minutes from Kinston, 33 minutes from Jacksonville. From Hwy 70 the property is accessed from the Cove City exit. If you know anyone looking for a country estate already set up for horses, there is not chance they will find a better deal than this one. The owners have 1.1 million dollars in the property and they are sacrificing it for $599.500. The home alone could not be duplicated for that amount, much less the property and rest of the buildings,  

Call me at 252-514-9157 or our office line 252-675-9595

 Guest House, Stables, Fenced Pasture, Large Pond


Luxury Equestrian Home New Bern NC Area

Click Here For More Info and Photos

Let us know if you or someone you know wants to see this property.

From time to time there are special deals out there and I will pass them along when they are a particularly good value. This is one of those deals.

Call or email anytime. We can help if it is related to real estate or the market.
Steve and Jana J. Tyson
Keller Williams Realty

New Bern Homes for Sale

Tuesday, February 03, 2015

Look up, it's a Bird, it's a Plane, 

Nope, Neither, but Real Estate sales are looking up.

If you are in the Real estate business nearly ever one  will ask you how are sales . According to the data below, so far this year sales are better than they have been in a long. January sales were the highest since the big meltdown. 

January 2015
Total sales=77
Average sales price=$158,441
Highest priced sale=$600,000

January 2014
Total sales=66
Average sales price=$154,650
Highest priced sale=$470,000

January 2013
Total sales=69
Average sales price=$169,770
Highest priced sale=$$683,000

January 2012
Total sales=46
Average sales price=$139,443
Highest priced sale=$420,000

This is certainly good news and let's hope it is a long term tread. But wait, not all good news. There are still to many Bank owned sales. In fact, they were up by a large percentage over last January. Hopefully this is an anomaly and I will be watching this number closely. Otherwise, looks pretty good. And this is a good news friendly blog so I will leave it at that. 

Real estate questions? Give me a call. That is what I do.

Click below for all your Real Estate Needs.

Wednesday, January 28, 2015

The 10 most expensive Homes Sold in New Bern in 2014

Alright, who wants to take a look at the 10 most Expensive homes sold in the New Bern area in 2014.
* This analysis tracks traditional market sales of multiple listed homes.

Does this guy look a little like Tom Barton to you?

Admit it, you want to


119 Trent Shores Drive-Trent Woods

Trent River Waterfront
Not surprising the most expensive home sold was in Trent Woods, This small town has the highest income per household, $64,000, of any city in Craven County.

List Price=$1,200,000.00
Sale Price=$1,144,000.00
Sold for 65% of tax value
Click the link below to see photos and features of this house.


5305 Trent Woods Drive
Trent River Waterfront
List Price=$1.195,000.00
Sale Price=$1,144,000.00
Sold for 78% of tax value

Click the link below to see photos and features of this house.

Ok, the first two are in Trent Woods. Take a guess where number 3 is. Hint, its on the Neuse River, which is not in Trent Woods.

No, its not the house above. Pretty cool house though, can you imagine having a party here? This is the old Neuse River Lighthouse, built 1823.

1106 Green Springs Road-Township 7
Neuse River Waterfront

List Price=$925,000
Sale Price=$861,000
Sold for  92% of tax value

Click the link below to see photos and features of this house.

Curious about a home and want to know the price and features? Download our App. It's free. when you pull up to a house for sale the price and features of the house will magically appear on your smart phone or ipad. Shameless curiosity, I love it.

712 Madam Moore Lane-Township 7
Trent River Waterfront
This home is located about 6 houses down from me and was sold for less than 1/2 half tax value. BTW, it was a distressed sale.

List Price=$895,000
Sale Price=$693,000
Sold for  47% of tax value

Click the link below to see photos and features of this house.

118 Allen Drive-City of New Bern
Not Waterfront. Sold for more than tax value, which has been the exception in recent years. This was the most expensive non waterfront home sold last year. It did have a waterview however.

List Price=$699,000
Sale Price=$680,000=% of tax value
Sold for  103% of tax value

Click the link below to see photos and features of this house.

208 New Street-City of New Bern
Not Waterfront. Nice to see a home in the historic district sell for this much.

List Price=$699,000
Sale Price=$609,600
Sold for 82% of tax value

Click the link below to see photos and features of this house.

2417 Tram Road-City of New Bern
Waterfront-on the inner harbour.
List Price=$675,000
Sale Price=$632,000
Sold for 89% of tax value

Click the link below to see photos and features of this house.

707 Cove Harbour-City of New Bern
Waterfront-on the inner harbour
List Price=$675,000
Sale Price=$675,000
Sold for 107% of tax value!!!!!!

Click the link below to see photos and features of this house.

3513 Cranberry Lane-Carolina Colours
Not Waterfront
List Price=$660,000
Sale Price=$660,000
Sold for 93% of tax value

That's a hefty price for a home not on the river and a signal that Carolina Colours is a high end community that folks are not adverse to investing a lot of money in a nice home.

Click the link below to see photos and features of this house.


114 Stillwood Court

List Price =  $660,000

Sale Price=  $526,050

Tax Value=  $1,119,100 

Sold for 47% of tax value. BTW, it was a distressed sale.

Click the link below to see photos and features of this house.

Notice I posted the sales price to tax value ratio. My next post I will discuss the upcoming property tax revaluation and how it may affect what you will pay in property taxes in 2016.

If you, or someone you know, is looking to buy or sell real estate we would appreciate your dropping our name. Jana and I have sold over 150 million in real estate in the last 10 years and are ready to work hard to find you or your friends a new home.

For all your Real Estate Needs Click Here

Have a great day.

Sunday, January 11, 2015

New Bern Real Estate-The Year in Review

How was the Real Estate Market in 2014? Let's take a look.

2014-total home sales in Craven County=1148
2014-average sales price=$167,662.00
2014-average days on market before closing=145

2013-total home sales in Craven County=1144
2013-average sales price=$168,275.00
2013-average days on market before closing=164

Let's try and analyse this data

For most of the year the total home sales lagged behind last years sales, often by over 5%. However, by year's end. total sales were actually slightly up. That's good. Let's hope that carries over to 2015. 

Average sales price was up most of the year but by year end it was down  just a little. Not enough to be concerned about, however I am going to follow this number closely. 

Average days on market before a home closed was down. I don't know this to be the case, but my gut feeling for this number coming down is because folks are pricing their homes closer to current fair market value, not on what they want or need to sell it for.

If you are looking for an analysis of value for your home, please let me know. Jana and I stay on top of the current market values and we will be honest about the most you can expect. What you can count on is straight-forward answers and the truth about the market, even i it is not what you would like to hear.Sellers that take ur advice get their homes sold! 
Please go to our Facebook Page and "Like Us" and use our handy Home Value tool. Click below
Keep in mind this is a computer-generated analysis and to get an more precise valuation, we need to view the home or property.

OK, Let's break it down a little more.

2014-total home sales in Craven County=1148







Over $600,000=13

2013-total home sales in Craven County=1144







Over $600,000=17

Here is my take on these numbers. Home sales priced under $100,000 sales were down 7%. This may have more to do with the decrease of bank owned sales than anything else.

Homes sales priced $100,000-$200,000 were up 8%. The reason. My thoughts are that there were some good deals on homes built in the 1980's, 1990's that were snapped up. Some of these were in really nice neighborhoods but needed renovation. Buyers were willing to put in some money and effort to make upgrades in order to live in the neighborhood of their choice, and sellers had the equity in the property to sell at low prices.

The $300,000-$400,000 price range was up over 50%. That's good news but I am not sure why it was up this much. I'll speculate by saying it is the result of a slightly improving economy. Also sellers in this price range have become more realistic about the value of their homes in today's market.

2014-New Home Sales

Total New Home Sales=157 total new home sales were down 17%. 







Over $600,000=0

2013-New Home Sales

Total New Home Sales=190







Over $600,000=0

Whats going on with new home sales? My guess is that not as many Marines are buying and instead are opting to rent. They are still buying, just not as many. 

Also our local economy is not creating enough jobs to increase demand for starter homes or move up homes. In 2006 there were 170 new homes sold between $300,000 and $400,000. Last year there were 4 sold in this price range.

Also, new regulations and stricter building and energy codes make it increasingly more difficult for builders to develop property, build homes, and make a profit.

Let's look at distressed sales for 2014 and compare them to 2013

Bank Owned Home Sales-2014=245

Bank Owned Home Sales-2013=319

Finally some good news, Bank Owned Sales were down by 23%. The Bad news is this is still way to many Bank Owned sales. In fact, other than 2013 it is the highest number on record. This number represents 21% of total home sales, and in a stable market it should be 5%. 

The local economy is improving. According to the County Economic Developer over 600 new jobs were added in Craven county in 2014.  Moen, Bosch, Hatteras, and the Fleet Readiness Center all added jobs. The new Craven 100 Alliance is now operational and is committed to Economic Development in Craven County. On 1-8-15 a Federal Reserve Board member spoke in New Bern and gave the first optimistic report on the economy in years. Our national, state, and local economies still have plenty of challenges however I am feeling better about the economy than I have in a long time.

That is the year in review report. If you have any specific questions feel free to give me a call. And if you, or anyone you know is looking to buy or sell real estate give us a call.

For all your Real Estate needs click here. Or Call Steve and Jana J. 252-675-9595