Market Index - Q3-07
On a scale of 1 - 5 (1 being a Buyer's Market and 5 being a Seller's Market), the current market index is a 2.
Labor Market:
Employment declined by 308 jobs in July and August. The job losses brought about an increase in the average monthly unemployment rate from 5% to 5.6% in the first two months of this quarter. Despite the job losses, the job situation in Lincoln County still remains a strong factor and should continue to increase the demand for housing. Both historically low mortgage rates and a steady job market should help to keep the market moving.
Housing Market: ***
| Q2-07 | Q3-07 | Q4-07 (forecast) |
Average Price | $310,400 | $278,300 | UP |
# Homes on the Market * | 563 | 560 | Down |
# Homes Sold ** | 167 | 177 | Same |
# New Homes Built *** | 176 | 107 | Same |
Avg # of Days on Market | 84 | 81 | Up |
* Available as of Mar. 31, 2007. ** May not add to total of zip codes. *** During the first two months of 1st quarter. |
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Data by Zip Codes for Q3 2007++
Zip Codes | Average Price | Price Change *** | Total # Homes Sold (Quarter) | % Change in # Homes Sold *** | Average Days on Market | % of Asking Price (Sold/List Price) |
28033 | $94,000 | -39.28% | 3 | 0.00% | 68 | 100.4% |
28037 | $420,700 | -14.46% | 77 | -1.28% | 68 | 98.5% |
28080 | $150,300 | -25.19% | 7 | -36.36% | 85 | 96.0% |
28092 | $145,600 | 2.90% | 54 | -25.00% | 95 | 95.9% |
28168 | $136,900 | 35.95% | 6 | -25.00% | 174 | 94.9% |
OTHER | $228,000 | 4.97% | 30 | -11.76% | 75 | 98.4% |
*** % Change of current quarter compared to the same quarter a year ago.
++ Source: Carolina Multiple Listing Services, Inc. and the National Association of Realtors®
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