Market Review - Craven County - Closed Sales

For this blog I chose to study residential sales closed for the last 12 months. I have limited the study to Craven County sales as reported in the Neuse River Region MLS. I decided to study homes that closed between $80,000 and $350,000. Hopefully that price range gives an accurate picture of our market. I chose to eliminate the luxury market and the very low end. The chart below depicts those sales.



June had the highest number of closings at 114. The lowest month was February with 50 closed. 875 homes in the study sold in the last 12 months. 995 homes in the study profile are currently listed. During the last twelve months 1081 homes entered the market. Assuming that approximately the same number of homes will enter the market this next twelve months, there will be a two year supply of homes available. A home must be superior in features or priced below others to sell. Sellers must be educated in current market conditions. An agent who lists homes for prices that are not likely to sell will harm his relationship with his clients.

by Gary Barker


Gary has been selling real estate in New Bern since 1977.


Visit my website http://www.gary-barker.com/