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.
