Market Update

Join us for one of Southport’s good times: Christmas by the Sea starting December 2

Peter says…

How low can you go? It does seem to be the way the markets react to the smallest tidbit of economic news. In fairness, we are starting to see some upswings in response to positive developments, and it’s good to take some heart in that. The wild swings, like that midnight Thanksgiving turkey sandwich, are making us all just a little queasy.

There’s some comfort in Brunswick County real estate. Slow but steady continues to be our read of the market.

The figures tell the story. Homes are staying on the market longer but selling prices remain very healthy. Buyers have great inventory and there are still deals to be had.  Sellers need patience but there is reason for hope.

Here are the figures for the past two weeks:

• 69 homes have sold or are pending sale.
• 47.4% of the homes sold were on the market for 0-120 days, and 52.5% for over 120 days. 
• Homes on the market 0-30 days brought 96.9% of listing price while those on the market for 120 days or more brought a still-healthy 92.7%.
• 17 homesites have sold or are pending sale.
• 60% were on the market for 120 days or more, 20% were on the market 91-120 days and 20% for 61-90 days.

Of course, we have more facts and figures. Give us a call or drop an email. Meantime, take some comfort in the market here. The deals are great, and you won’t get queasy about this investment!

Our best to you and yours for the holiday week…

                                 --Peter Heck, Broker-in-Charge