Heidi Turner is a local real estate agent in the eastern North Carolina market.
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Happy Saturday, my friends! I’m back at it, and you know I LOVE keeping up with what’s going on in the market! I never stopped staying on top of that while I took the past year to focus on a different part of my career. There’s been a lot of chatter going on about what’s happening in the real estate market, and I always find it interesting when I talk to someone who thinks our market is “crashing.” The truth is, now could be the very best time to sell OR buy a home!
I’m going to share some numbers with you that reflect what’s been happening specifically in Onslow County, North Carolina. I’m going to run through these numbers quickly, so put on your listening ears!
Today there are 782 single family homes active on the market…that means they are NOT under contract. The median list price, which is not the same as the average list price, is $345,000. In the last 30 days, there have been 283 single family homes closed. Why do I share that with you? Because that tells us that RIGHT NOW we have about 2.8 months supply of single family homes available in Onslow County. That means that if no one put another home on the market, the inventory we have available will be GONE in less that 3 months!!
Let’s talk about that sweet spot price range: $250,000 to $300,000. There are currently only 109 active single family homes on the market in Onslow county, and in the last 30 days, we’ve sold 69…which means we only have about a month and a half (1.5 months) supply of homes between $250,000 and $300,000!
Now if you had a home that was priced right and fell into that sweet spot, you might find yourself seeing multiple offers… is this happening as often as it was a few years ago? No…but it is still happening!
Let’s talk about new construction for a minute…in all price ranges, there are 323 active single family new construction homes on the market in Onslow County with a MEDIAN LIST PRICE of $354,000. Remember I told you that the median list price for all homes was $345,000. Well, the median list price for single family homes that EXCLUDE new construction is $330,000. New Construction median list price is 7.3% higher than the median resale list price. In the last 30 days, we’ve closed 59 new construction single family homes in Onslow County which means there is a 5 and a half months supply of new construction single family homes. So 2.8 months supply of all single family homes….1.5 months supply of homes in the $250,000 to $300,000 price range, and 5.5 months supply of new construction homes!
Now really quick, and then I’ll let you go…let’s compare what the market has done this year compared to last year at this time. Last year by September 14, 2023 Onslow County saw 3,125 total single family homes sold. Remember I’m only accounting for single family homes…this does not include townhomes, manufactured, land or anything else. Just single family homes. Our Median sold price for all single family homes was $282,900. To date, this year, we have sold 2,846 single family homes in Onslow County. That’s only about 9% less homes than what we sold last year at this time. The single family homes that were resales, not new construction have appreciated in price by 4%. New construction single family homes have appreciated by 1.7% and ALL singled family homes, when you combine resale with new homes, we see a 4.2% appreciation still with a median sold price for resales this year so far being just under $274,000, new construction median sold price right at about $355,000 and ALL single family homes combined at a median sold price of $295,000.
My friends…this is GREAT news! I know this was a lot of numbers to take in. I would love to set up some time to sit down with you and discuss how this market information affects you and your investment decisions.
I still can be reached at 910-934-1465 if you’ve been using that number forever. I also have a new work number: 910-996-3532. For those of you who don’t know me, I’m Heidi Turner, I’m a local REALTOR in Eastern North Carolina. I’ve been in this industry for 28 years this November. I’ve been a top producing REALTOR for 17 years, I’ve been a mortgage loan office, and I’ve been a real estate paralegal specializing in new construction closings and title examinations. I’ve lived in Jacksonville, NC since 1989 and LOVE living here more than any place on the planet! My goal is always to be your trusted source for information and assistance. Please think of me when you need help with real estate! Now…I’m going to go check out some of the awesome Open Houses out there this weekend! I hope you have the most wonderful and blessed day!
Heidi Turner, REALTOR
Anchor Real Estate
910-934-1465
910-996-3532
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