Special offer

Greenville NC Real Estate Market Trends for 2012

By
Real Estate Agent with RE/MAX Preferred Realty

On January 1 both the Senate and House passed H.R. 8 legislation to avert the “fiscal cliff” and the bill was signed into law by President Barack Obama the next day.

Below is a summary of real estate related provisions in the bill:

  • Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014.
  • Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012.
  • 15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012.
  • 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.
  • Capital gains and dividends for individuals and families earning below $400,000 and $450,000, respectively, will remain at 15 percent. For those above those thresholds, the dividend tax rate will increase to 20 percent.
  • The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax. After that the rate will be 40 percent, up from 35 percent.

Take a look at sales figures in our local real estate market for 2012.

Greenville NC real estate sales statistics for 2012 saw the sold listings increase by 9% for the year when compared to 2011. The pending sales have increased by 17%, and new listings have increased by 6% when compared to 2011. The average sale price decreased by 1% to $ 158,155 when compared with 2011. Market times decreased by 5 days from 2011.

Date New
Listings
Pending
Sales
Sold
Listings
Average
Sale Price
DOM
2012 1,498 1,063 803

$ 158,155

153
2011 1,408 883 729 $ 160,457 158
 

Learn more about the Greenville NC real estate market by visiting our websites, LizFreeman.com and LizFreemanHomes.com.

Search all Greenville NC homes for sale.

Information is provided by the Greenville Multiple Listing Service and is deemed accurate but not guaranteed.

Comments (1)

Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Most of the people do not yet know that there is an effect on them for the sale of the home if they make good money.

Feb 27, 2013 12:20 AM