Digging into the Data: How Our Market Stacks Up

Anyone who reads my articles has probably figured out I am a numbers guy. I was the kid in school who loved math and found numerical data intriguing if it was a subject in which I was interested. Also, if you know anything about me, you know I am interested in real estate. I am one of those lucky people who get to wake up every morning to go to my career I genuinely enjoy! There is so much about helping others buy, sell, and invest in real estate that fulfills me. Digging into data to piece together an objective view of the market is one of them. Therefore, I decided to share some interesting data about the Craven County real estate market and how it compares to surrounding counties. See the charts below:

In looking at the data, we are seeing a strong, steady market. Days on the market are in a healthy range, inventory levels are slowly increasing, and prices continue to rise. One of the reasons prices are continuing to rise is we are seeing fewer less expensive homes sold. However, prices are still rising, and we do not expect them to retreat anytime soon, especially with mortgage rates decreasing. It is interesting that 50% of the homes in Craven County are selling in 23 days or less, while no county has a median number of days on the market of more than 41 days. I was looking back at the market 11 years ago. At that time, the average days on the market in Craven County were 207 days, while the average price was $166,521. Historically, real estate has been a great investment, and I believe it will continue to be for many years to come.

If you are ever curious about where your home fits into these numbers, my team and I are happy to meet with you to give you a free market and equity analysis of your home. Or we can help you determine the steps it takes to buy a home. Let us know how we can help you, your loved ones, and your coworkers!