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