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

#1

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.

 http://www.easternncmls.com/new/maildoc/tysojs_1422050145-Jan-23-2015-4_55_45pm.html

#2

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.

http://www.easternncmls.com/new/maildoc/tysojs_1422050392-Jan-23-2015-4_59_52pm.html

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.

#3
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.

http://www.easternncmls.com/new/maildoc/tysojs_1422103602-Jan-24-2015-7_46_42am.html

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.


#4
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.

http://www.easternncmls.com/new/maildoc/tysojs_1422191047-Jan-25-2015-8_04_07am.html

#5
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.

http://www.easternncmls.com/new/maildoc/tysojs_1422191614-Jan-25-2015-8_13_34am.html

#6
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.

http://www.easternncmls.com/new/maildoc/tysojs_1422191875-Jan-25-2015-8_17_55am.html

#7
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.

http://www.easternncmls.com/new/maildoc/tysojs_1422194197-Jan-25-2015-8_56_37am.html


#8
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.

http://www.easternncmls.com/new/maildoc/tysojs_1422195296-Jan-25-2015-9_14_56am.html


#9
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.

http://www.easternncmls.com/new/maildoc/tysojs_1422195867-Jan-25-2015-9_24_27am.html

#10

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.

http://www.easternncmls.com/new/maildoc/roscoe_1422454690-Jan-28-2015-9_18_10am.html

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.

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
https://www.facebook.com/TysonGroupRealtors/app_691252210905997 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

$10,000-$100,000=266

$100,000-$200,000=585

$200,000-$300,000=196

$300,000-$400,000=62

$400,000-$500,000=18

$500,000-$600,000=9

Over $600,000=13

2013-total home sales in Craven County=1144

$10,000-$100,000=285

$100,000-$200,000=540

$200,000-$300,000=229

$300,000-$400,000=41

$400,000-$500,000=21

$500,000-$600,000=11

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%. 

$0-$100,000=3

$100,000-$200,000=101

$200,000-$300,000=48

$300,000-$400,000=4

$400,000-$500,000=1

$500,000-$600,000=0

Over $600,000=0

2013-New Home Sales

Total New Home Sales=190

$0-$100,000=3

$100,000-$200,000=120

$200,000-$300,000=63

$300,000-$400,000=3

$400,000-$500,000=0

$500,000-$600,000=1

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.

Go to www.NewBern-NC.Info 

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