As we look back on the 3rd Quarter, while there are people affected by Hurricane Dorian, we were very lucky the storm came in at a low category. We are all counting our blessings. It has been great to see our community come together, both neighbors helping neighbors and strangers helping strangers!
A question we’ve received many times recently is what is going on in our local real estate market? We wanted to share some thoughts and observations on what we are seeing. The real estate market in the Onslow County Area remains vibrant and strong with only 3 months supply of inventory. That means that if nothing else were to come on the market for sale, and houses continue to sell at their current rate, it would only take 3 months to sell all of the inventory in the market. As a result, the best homes at the best price are receiving multiple offers.
The following are market trends in our area:
- Existing-home sales were strong 3rdQuarter, rising 39% compared to the same time period in 2018! (this is closed Units and due to Hurricane Florence’s impact on the market)
- With interest rates at an all-time low, buying is more affordable than it’s been in years!
- Unsold inventory is at a 3-month supply at the current sales pace, making it a perfect time to sell!
We want to thank those who have trusted us to help you buy or sell a property in 2019! In addition, we want to encourage anyone who’s thinking about buying, selling, or wanting to learn more about the market to give us a call. We’re here to help you with all your real estate questions and needs, no matter how big or small. We’re here to be your consultant and advocate. When you come across an opportunity to refer a friend or neighbor, we’d appreciate you referring us to great people like yourself, who would benefit from the excellent service and personal attention we provide. Please call us with their contact information. As always, we will treat them like gold!