Local Real Estate Market Updates by Ancil Jones

The real estate market in Carteret/Craven counties has improved significantly since November 2008 which left us with 4,338 active listings, 73 sold and 59.42 months inventory (the number of months required to clear inventory at current sales rate). January showed some improvement with 4,095 active listings, 77 sold and 53.18 months inventory. April even more promising with 4,228 activive listings, 119 sold and 35.53 months inventory. In May 2009 we moved some property with 138 sold, 4,210 active listings and 30.51 months inventory.

With good pricing from the get-go, the average "Days on Market"(DOM) has been around 200 days. This actually is not bad as the lowest DOM since June 2007 has been 146 which was September 20007.

As always, offers are submitted below asking price. The average price change from listing to sold is currently at -12.73% (property sold for -12.73% below asking price). This figure has remained fairly constant since 2007 ranging from -12.06% for June 2007 to -13.35% for August 2008.

With the 1st Time Home buyer tax credit and interest rates still available at around 5%, this is a fanastic time to be in the market, either buying or selling.

Contact me for more information at 252-622-5245 or email REALTOR@AncilJones.com