The Camp Lejeune Jacksonville NC Real Estate Market Report, comparing January - March results in 2013 to January - March results from 2012 shows that Jacksonville NC is finally experiencing an overall shift in our local market.
Re-sale home sales continue their downward trend, down 8% over 2012 1st quarter numbers. The 8% decrease doesn't truly encompass the entire re-sale market stats as almost 1/3 of those re-sale home sales were bank owned (foreclosure) properties. For the first time in over two years, new construction sales have seen a decrease in their overall numbers. New Construction continues to hold a majority market share of overall area home sales. The inventory of homes on the market for sale continues to climb. This is not unexpected as we are moving into our historical sales season. I expect supply to exceed demand as we continue throughout the remainder of 2013. Though our market has seen a significant increase in "short sale" home listings appearing in our MLS, we are not seeing a proportionate number of closed sales on short sale homes. This may be a result of the time constraints most of our military buyers are under...not feeling they have the time to deal with the short sale process. It may also be because there are a large number of homes on the market for sale without considering short sales. I will continue to watch these numbers and trends as we continue through 2013.
Info obtained from Jacksonville Board of REALTORS Multiple Listing Service.
Overall Single Family Home Sales for the January to March 2013 time frame, including both new construction and re-sale numbers are:
Sold Current Period: 577
Sold 1 Year Ago: 669
Decrease of: 92 or down 14 %
Avg Sold Price Current Period: $164,945
Avg Sold Price 1 Year Ago: $170,871
Decrease of: $5,926 or down 3 %
New Construction Single Family Home Sales for the January to March 2013 time frame:
Sold Current Period: 291
Sold 1 Year Ago: 389
Decrease of 98 units or down 25 %
Avg Sold Price Current Period: $193,895
Avg Sold Price 1 Year Ago: $187,633
Increase of: $ 6,262 or up 3 %