New Bern NC Homes For Sale Breaks Record
The number of homes for sale in the New Bern NC market, as reported by the local Multiple Listing Service has reached a record-breaking 1653 residential properties “For Sale” thus far in April 2010.
Homeowners trying to take advantage of the Spring selling season, which is typically one of the best times to sell a home, have been piling homes on the market as well as builders hoping to capture whatever buyer’s are currently shopping.
I have been following monthly inventories in the New Bern, NC market for over 3 years and do not have records showing inventory levels over 1580 homes “For Sale” at one time.
While “homes sold” track pretty much with 2009 sales year-to-date, the total dollar sales are down about 9 million dollars. The average sales price has slipped from $199,000 to $173,000 thus far in 2010.
Total sales of homes in 2009 was 1207, so we have well over 1 years supply of housing for sale. This large amount of housing for sale coupled with foreclosure rates increasing will continue to put downward pressure on prices.
It’s a tough time for sellers. If you don’t have to sell, sit tight.
The buyer’s market continues! If you want to make some money with real estate, not every piece of property is a deal, but there are some to be had. Get a REALTOR® who knows what’s going on to help you find the deals.
You will not be sorry!
