Buyers are back in the market with bidding wars being reported again, much to the delight of sellers.
In fact, buyers were so keen to jump back into the market that pending sales jumped up 28 percent this month. Sellers who held off listing their homes over the holidays were eager to get their homes listed to kick off the New Year right, with new single family detached listings increasing from 43 in December to 77 in January.
While activity picked up from the holiday market, average days in MLS also decreased to 57 days. While homes are not flying off the market within a weekend, buyers are still in the market. They have wrapped their heads around higher interest rates, have factored in rate buydowns into their purchase costs and are simply taking their time to find the right home.
Although homes are selling a bit slower, the average close price dipped slightly by 8.6 percent to $512,701 for single family detached homes.
The stats continue to showcase Carteret County’s stability, as prices have not varied even though affordability for buyers has been greatly impacted by rising interest rates.
Buyers are actively looking and the majority of the market still favors sellers. Homes may not sell in the first week-end, or even the first 30 days, but they are selling and prices are staying strong. As we enter Carteret County’s spring market, which traditionally starts next month, there is still much to love about the 2023 real estate market.
Related Links
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
