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

Thinking of selling your home?

Then please read this article

http://realtytimes.com/consumeradvice/sellersadvice1/item/31279-20141024-your-house-usually-isnt-worth-as-much-as-you-think

The Weekly New Bern Real Estate News Report

New Bern Home Sales-10-15-14 through 10-21-14

Total homes sold=14

Average sales price=$188,775

Average days on market before sale=112

The most expensive home sold during this time period was $526,000

The least expensive home sold during this time period was $69,000

New Bern Home sales-last year, same time frame

Total homes sold=19

Average sales price=$224,568

Average days on market before sale=284

The most expensive home sold during this time period was $535,000

The least expensive home sold during this time period was $474,000

If you know anyone looking to buy or sell Real Estate please ask them to give us a call. And for all of your Real Estate needs go to New Bern Real Estate

The Weekly New Bern Real Estate News Report

New Bern Home sales-10-4-14 through 10-10-14

Total homes sold=18

Average sales price=$173,072

New Bern Homes sales-Last year, same time frame

Total homes sold=28

Average sales price=$150,630.00

As you can see, sales volume is down 44% from last year, bad news. Good news, average sales price is up 15%. 

This has kind of been the trend all year. For the year sales volume is down about 1.2%, however average sales price is up almost $6000. Whats going on? Well, bank owned sales are down this year 25% and that is the primary reason sales volume is down and average sales price is up.

While it is certainly good news that bank owned sales are down, there are still plenty of challenges in the real estate market right now. The biggest challenge, in my opinion, is quite simply the weak ecomony throughout much of the nation. When we climb out of the great recession we will see a robust housing recovery in New Bern.

Until next week.

For all your real estate needs go to www.newbern-nc.info

New Bern Real Estate News

Today is October 2nd, 2014

Here is the Latest New Bern Real Estate News

It has been a hectic week for us, and I mean that in a good way. We had a closing on Monday, two closings on Wednesday, and a closing on Thursday. It has been hard work and we are doing really well this year. OK, I know what you are thinking.

What people do care about is the housing market. It is a huge part of our economy and for most of us, a huge part of our personal net worth. So let's look at the data and see how the overall real estate market is doing in the greater New Bern area.

Homes sold in the last year=1152
Average days on market before sold=152
Average sales price=$172,052

Now lets look at the year before.
Homes sold the year before=1098
Average days on market before sold=161
Average sales price=$164,293

According to this data, we are moving in the right direction. This housing recovery has been, and will likely, continue to be timid. If you are buying, there are still good deals out there, but not quite as many as a year ago. Also, interest rates remain low. I closed a VA loan this week at 3.84%.

If you are selling, get your home in really good shape. There is a lot of competition out there and if you want to be in the game you must be priced right and the home must show well.

Have a great weekend, and for all of your real estate needs go to www.newbern-nc.info

Home sales year to date-Craven-Pamlico Counties

Includes all of New Bern and Oriental

Lets take  look at  a few sales charts and see how sales are doing year to date by price range

As you can see from the chart the under $200,000 accounts for 69% of sales. So if you re wondering what is taking your home so long to sell, this chart might help. It is still  buyers market and if you do not have the ability to be price competitive might not be the time for you to sell. 

For all your real estate needs, go to www.newbern-nc.info or give me  call at 252 514 9157

New Bern-Certified Retirement Community

New Bern-Certified Retirement Community?

I think we need to get New Bern designted as a Certified Retirement Community. Certainly we can beat out the cities listed below. We are missing out on opportunities such as the one listed below. What do you think?

RetireNC promoted at the Ideal Living expo in N.J.


The Division’s Andre Nabors (lf)
and Fearrington Village’s Nathalie
Condoret (center) listen intently
to attendees
Tourism Development Manager André Nabors and Division representative Ashlee Kirk promoted North Carolina as a retirement destination at the Ideal Living Resort & Retirement Expo in Whippany, N.J., this past weekend. The Expo drew approximately 800 potential retirees from the region interested in exploring opportunities and conversing with exhibitors from across the Southeast. Attendees talked with experts from towns and community developers to gain insights and get answers to help plan, design and enjoy their retirement. North Carolina has consistently been one of the most requested states by the attendees. The Division attended the Expo, along with community partners from Fearrington Village Real Estate, to continue its efforts to promote the N.C. Certified Retirement Community Program, which consists of Asheboro, Eden, Edenton, Lumberton, Marion, Mount Airy, Pittsboro, Sanford, and Tarboro. For more information about the Certified Retirement Community Program or the Division's marketing initiatives for retirement relocation, contact Andre Nabors at (919) 733-7502.

Searching for a Townhome or Condo in New Bern?

Search no more. Just click the link below and begin your search.

New Bern Townhomes and Condos

Let us know if you have any questions.

Waterfront Home Sales in New Bern

Waterfront Home Sales in New Bern and Craven County

Today we are going to take a look at waterfront home sales in both the New Bern market and the Oriental market.

Waterfront sales in New Bern and Craven County Through 8-28-2014

Total units sold=38

By price range

$100,000-$200000=9. Down 35% over last year

$200,000-$300,000=10. Down 1% over last year

$300,000-$400,000=8. Up 33% over last year

$400,000-$500,000=5. Up 400% over last year

$500,000-$600,000=3. Down  25% over last year

Over $600,000=3. Down 40% over last year

How does this stack up with past years? Lets take a look.

Waterfront sales in New Bern and Craven County through  8-28-2013

Total units sold=41

By price range

$100,000-$200000=14

$200,000-$300,000=11

$300,000-$400,000=6

$400,000-$500,000=1

$500,000-$600,000=4

Over $600,000=5 

Waterfront sales in New Bern and Craven County through 8-28-2012

Total units sold=31

By price range

$100,000-$200000=7

$200,000-$300,000=10

$300,000-$400,000=8

$400,000-$500,000=3

$500,000-$600,000=2

Over $600,000=1

So what is going on with Waterfront Sales?

First the good news. Average sales price is up a little over .5%. Not much, however it is heading in the right direction for the first time in years. The above $500,000 price range is still tough. Just not as many buyers in that price range and plenty of inventory, 30 to be exact. If you are selling in that price range you will need to be patient.

Waterfront Home Sales in Oriental and Pamlico County

Waterfront sales in Oriental and Pamlico County Through 8-28-2014

Total units sold=22

By price range

$100,000-$200000=5. Down 50% over last year

$200,000-$300,000=4. Down 33% over last year

$300,000-$400,000=7. Up 75%over last year

$400,000-$500,000=6. Down 14% over last year

$500,000-$600,000=0. Down 100% over last year

Over $600,000=0. Down 100% over last year

This seems a little strange to me as I would have thought the market in Pamlico County was up this year. The numbers do not lie. Still a tough buyers market in Pamlico.

Waterfront sales in Oriental and Pamlico County through  8-28-2013

Total units sold=31

By price range

$100,000-$200000=10

$200,000-$300,000=6

$300,000-$400,000=4

$400,000-$500,000=7

$500,000-$600,000=2

Over $600,000=2

Waterfront sales in Oriental and Pamlico County through 8-28-2012

Total units sold=20

By price range

$100,000-$200000=10

$200,000-$300,000=3

$300,000-$400,000=5

$400,000-$500,000=1

$500,000-$600,000=1

Over $600,000=0

The old adage that time heals all wounds will ultimately prove true with waterfront home sales. Unless we have another meltdown in the economy  waterfront home sales should continue to improve. The rate of improvement for high end waterfront will be very slow. Seems like waterfront buyers have downsized their price points. That said, Eastern NC is really starting to become a destination for retirees, and they ain't making anymore waterfront. 

If  we can be of assistance in anyway at this time give me a call. For all your Real estate needs please visit New Bern and Oriental Real Estate

 Home Sales in New Bern Year-to-Date August 2014

How are home sales so far this year? Let's take a look at closed homes through 8-9-14 in Craven County and
compare to the past 2 years.

2014

$0-$100,000=150 sold There are currently 242 homes for sale in this price-range. This is about 12 months of inventory.

$100,001-$200,000=331 sold There are currently 477 homes for sale in this price-range. This is about 10 months of inventory.

$200,001-$300,000=125  sold There are currently 203 homes for sale in this price-range. This=12 months of inventory.

$300,001-$500,000=45 sold There are currently 119 homes for sale in this price-range. This is about 19 months of inventory.

Over $500,000=9 sold There are currently 61 homes for sale in this price-range. This is about 52 months of inventory. 

2013

$0-$100,000=184 vs 150 for 2014

100,001-$200,000=321  vs 331

$200,001-$300,000=127 vs 125

$300,001-$500000=39  vs 45

Over $500,000=12 vs 9

2012

$0-$100,000=112 vs 150

$100,001-$200,000=327 vs 331

$200,001-$300,000=117 vs 125

$300,001-$500000=45 vs 45

Over $500,000=8 vs 9

The under $100,000 sales are down but I have been expecting that as bank owned sales and foreclosures are down. Many of the sales in this range were and still are forelosures.

$100,000-$200000 sales are up by a small amount, not enough to affect prices at this time, but better than nothing.

$200000-$300000 sales are down by just about flat, I would rather see it up, but nothing earth shattering.

$300000-$500000 sales up, not by a big margin and still good news.

$500000 and over sales are down by 25%. What I believe is going on here is that buyers in this range are hesitant to buy.  High end home values were hit the hardest in the housing recession. Some buyrs are opting to rent or buy in a lower price ranges. 

WHAT DOES THIS MEAN, FOR THE HIGHER END PRICE-RANGES? IT IS A STRONG BUYER'S MARKET. IF YOU OR ANYONE YOU KNOW IS LOOKING FOR A HOME OVER 500K, TELL THEM TO CALL ME TODAY. THERE ARE A LOT OF MOTIVATED SELLERS IN THIS RANGE AND I KNOW WHICH HOMES ARE EXCEPTIONAL DEALS! CALL 252-675-9595 OR 252-514-9157

TO SEE HOMES FROM 500k-750k

If you know anyone that owns a high-end home they need to sell, we are uniquely qualified to help them. Not all agents are the same. Sellers frequently make the costly mistake of choosing their agent because the agent is a friend, neighbor, or fellow church member. And, sometimes they select their agent because their children 

are friends with the agent's children. 

If you were ill, would select a doctor based on that criteria?

Buying and Selling real estate is a MAJOR BUSINESS DECISION.Buyers and sellers need honest, informed, and experienced agents.
They need an agent that will tell them the truth,
even if it is not what they want to hear.

WHEN YOU HIRE THE TYSON GROUP

Steve and Jana J.

YOU GET THE FACTS-GOOD, BAD OR UGLY!

MAYBE SELLING IS NOT THE BEST OPTION.

RIVERTOWNE  RENTALS offers focused management for all price ranges and Specializes in Upscale Home Property Management.

If you know someone that does not want to sell for today's prices, have them give us a call.  They might be surprised at how much income we can get them! We manage several properties with rental proceeds over $2000 monthly and even a few over $3000 monthly. Call Us!

RIVERTOWNERENTALS.INFO OR 252-638-6868

For all your real estate needs go to New Bern Real Estate. If you have any questions about the market in the New Bern area give us a call. 

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 ANYTIME YOU WANT PHOTOS AND INFO ABOUT AREA HOMES, OPEN THE APP AND CLICK "NEARBY HOMES". THE APP RECOGNIZES YOUR LOCATION, SO IF YOU ARE SITTING IN FRONT OF A HOME THAT IS FOR SALE OR RENT,  YOU HAVE THE DATA  IN THE PALM OF YOUR HANDS.

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