The buyers market continues to hang on for the second year here in New Bern.  Inventory levels are high, buyers are few in numbers and the bottom and top ranges of the market is where we are seeing movement.

One the high end we have seen 1 million plus home sell this quarter which brings the total for the year to 3. There are currently 27 million dollar plus listed properties for sale.

One the other end the market between $100,000 and 199,999 represented 49.3% of our market for the second quarter .

Here's the rest of the news:          2nd Qt 2008                                       2nd QT 2007

Sales single family home                          436                                                      590

Avg days on market                                 139                                                      104

Avg sales price                                      $203,009                                            $204,054

Craven County Foreclosures                       91                                                         53

Building permits City of New Bern  (SF)        48                                                         67

Building permits Craven County (SF)           76                                                         105

Building permits 5+ families                       0                                                           0

Sales dollar volume                                 88.5 million                                        120.6 million

Closing Inventory                                   1569 units                                            1515 units

Total Board Asborption Rate *                  12.07 months                                       unknown

*(based on 6 months activity)