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North Carolina

 

    UNEMPLOYMENT MEDIAN-SALE PRICE INCOME/HOUSING COSTS
  Asheville 8.2% $164,275 31%
  Burlington 10.9% $109,588 19%
  Charlotte 11.2% $205,000 30%
  Durham 8.0% $209,000 33%
  Fayetteville 10.1% $109,049 21%
  Goldsboro 9.2% $99,521 17%
  Greensboro 10.8% $127,615 23%
  Greenville 10.8% $103,208 22%
  Hickory 12.5% $104,053 22%
  Jacksonville 9.5% $129,526 25%
  Raleigh-Cary 8.5% $210,000 27%
  Rocky Mount 13.7% $90,310 20%
  Wilmington 10.4% $195,000 35%
  Winston-Salem 9.9% $120,038 20%

 

North Carolina Home Sale Prices Chart 2012

north carolina real estate chart 2012

 

NORTH CAROLINA REAL ESTATE NEWS

 

"Say, you're in a game and you're losing. The other team scores eight touchdowns on you and you score one back.

"You are moving in the right direction, but you still have a long way to go." Intracoastal Realty agent Ashley Garner borrowed that idea from the National Association of Realtors' chief economist to describe where residential real estate stands in the Wilmington area. As we scoot along the bottom of the market, it's too early to tell whether the last two months of sales figures are any harbinger of better days ahead, Garner said last week. The Wilmington Regional Association of Realtors (WRAR) on Tuesday reported that home sales in the area covered by the association – New Hanover, Pender and northern Brunswick counties – were up to 451 in August compared with 408 in August 2010.

That's a 10.5 percent gain from a year earlier and July's data showed a 23 percent increase from July 2010.

There's also some evidence that the local new-home building market is showing some signs of life, as previously dormant or slow-growing subdivisions echo with the sounds of hammers and saws. But the problem is that the market last year was still feeling the effects of the first-time home buyer tax credit. And that makes year-over-year comparisons misleading, Garner said. Buyers who normally would have purchased homes throughout 2010 rushed to buy in the first half of last year to qualify for the tax credit, he said. That inflated the number of sales in the first six months of last year. But it cut sales in the second half when buyers were no longer eligible for the stimulus. So last month's figures are held up against very weak ones from 2010 – not an apples-to-apples comparison, Garner explained. But there are also positive, though not conclusive signs about the residential real estate market. "Our experience is that the market is moving well," said Tom Spencer, general manager of Coldwell Banker Sea Coast Real Estate. "Of course, housing stats are not what we would like to see, but our company has seen positive growth all year."

 

The number of days that it takes to sell a home are still edging up, he said. That figure was 155 days in the latest WRAR data. But listings are down, "which eases the pressure on the market just a bit," Spencer added. Realtors CEO Jerry Panz pointed out that in six out of the last eight months home sales have been higher than a year earlier. "It tells us that the market is picking up, particularly on the pending sales side," which is an indicator of future market strength or weakness. He warned, however, that consumer confidence would play a big role in any pick-up. An economist at the University of North Carolina Wilmington, however, wasn't ready to forecast a pick-up. William "Woody" Hall said there isn't enough evidence to see an uptick in the market, "but we are beginning to accumulate evidence that it has bottomed out."

Garner's thoughts were similar. "History will prove that we are in the bottom of the market now," he said. "There may be some fluctuations up and down." Garner said it may be January before true sales comparisons can be made and any conclusions drawn. Though sales have risen somewhat, the average and median sale price of homes have yet to move higher. "The average sales price is static, which could be indicative of some price stabilization," said Spencer. August's average sale price was down about $1,000 from a year earlier, but the median price dropped to $178,900 from $190,000. For that you can thank the crowded field of homes for sale, Garner said.

There are about 10 months worth of houses on the market now. That means that at the current pace, it would take 10 months to sell all the houses for sale. That needs to fall to five to seven months' for prices to stabilize, Garner said. Sales and prices are not in sync, Hall said, because prices tend to lag behind sales. Also pressuring prices are the number of distressed sales. More than a third of all sales in the first half of 2011 were foreclosures or short sales, Garner said. But there are signs of encouragement even here. In July and August, Garner pointed out, that figure had fallen to roughly a quarter of sales – a sign that the market is working through the foreclosures. For the time being, "sales aren't getting any worse, but they're not getting much better," said Hall. "But that's been the case for the last year or year and a half. "The good word here, if there is one, is that market conditions have stabilized."

 

 

 

50-STATE REALTOR EMAIL LISTS

ALABAMA
14,550 REALTOR EMAILS

ALASKA

1,260 REALTOR EMAILS

ARIZONA
57,908 REALTOR EMAILS

ARKANSAS

7,959 REALTOR EMAILS

CALIFORNIA
210,776 REALTOR EMAILS
COLORADO
33,083 REALTOR EMAILS
CONNECTICUT
17,237 REALTOR EMAILS
DELAWARE
8,008 REALTOR EMAILS
FLORIDA
165,998 REALTOR EMAILS
GEORGIA
48,565 REALTOR EMAILS

HAWAII

13,178 REALTOR EMAILS

IDAHO
8,825 REALTOR EMAILS

ILLINOIS

84,576 REALTOR EMAILS

INDIANA
18,684 REALTOR EMAILS

IOWA
9,140 REALTOR EMAILS
KANSAS
17,237 REALTOR EMAILS
KENTUCKY
13,148 REALTOR EMAILS
LOUISIANA
15,283 REALTOR EMAILS
MAINE
6,006 REALTOR EMAILS
MARYLAND
17,237 REALTOR EMAILS
MASSACHUSETTS
30,293 REALTOR EMAILS

MICHIGAN
27,719 REALTOR EMAILS

MINNESOTA

34,329 REALTOR EMAILS

MISSISSIPPI
7,176 REALTOR EMAILS

MISSOURI
29,832 REALTOR EMAILS
MONTANA
7,413 REALTOR EMAILS
NEBRASKA
5,828 REALTOR EMAILS
NEVADA
25,112 REALTOR EMAILS
NEW HAMPSHIRE
6,978 REALTOR EMAILS
NEW JERSEY
46,446 REALTOR EMAILS

NEW MEXICO

7,882 REALTOR EMAILS

NEW YORK
68,609 REALTOR EMAILS

NORTH CAROLINA

60,640 REALTOR EMAILS

NORTH DAKOTA
1,687 REALTOR EMAILS

OHIO
33,288 REALTOR EMAILS
OKLAHOMA
12,048 REALTOR EMAILS
OREGON
16,638 REALTOR EMAILS
PENNSYLVANIA
38,129 REALTOR EMAILS
RHODE ISLAND
6,665 REALTOR EMAILS
SOUTH CAROLINA
19,459 REALTOR EMAILS

SOUTH DAKOTA

2,049 REALTOR EMAILS

TENNESSEE
25,403 REALTOR EMAILS

TEXAS

105,364 REALTOR EMAILS

UTAH
17,139 REALTOR EMAILS

VERMONT
3,560 REALTOR EMAILS
VIRGINIA
41,656 REALTOR EMAILS
WASHINGTON
29,090 REALTOR EMAILS
WEST VIRGINIA
2,509 REALTOR EMAILS
WISCONSIN
20,412 REALTOR EMAILS
WYOMING
2,441 REALTOR EMAILS

 

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