Local Area Report Update (Q4-07)

By
Real Estate Agent with Lincolnton, NC

Market Index - Q4-07

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:

During the first two months of this quarter approx. 727 jobs were added to Lincoln County payrolls. The average monthly unemployment rate fell from 5.4% to 5.2% in October and November. 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: ***

  

Q3-07

Q4-07

Q1-08

(forecast)

Average Price

$278,300

$261,700

UP

# Homes on the Market *

560

524

Down

# Homes Sold **

177

131

UP

# New Homes Built ***

107

79

UP

Avg # of Days on Market

81

114

Down

* Available as of Dec. 31, 2007.

** May not add to total of zip codes.

*** During the first two months of 1st quarter.

 

 

 

Data by Zip Codes for Q4 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)

28037

$412,900

13.22%

53

-13.11%

104

97.5%

28080

$150,500

-8.84%

12

33.33%

79

93.9%

28092

$129,400

-3.65%

49

19.51%

143

96.3%

28168

$103,400

-16.00%

3

-50.00%

68

92.7%

OTHER

$281,700

11.70%

14

-51.72%

94

95.4%

  *** % 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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Selling the Land and Everything upon it! Follow me to beautiful Lincoln County, NC.

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