Carteret County’s October Market Stats are in. The average sold price for a single family home was $ 639,982. The average days on market was 43.
Rising inflation + interest rates are certainly changing the market, but there is always a silver lining. Buyers have time to decide on a home, while also negotiating price, interest rates + other terms that fit their needs. Sellers are studying the market, getting their homes ready to list, while still receiving an excellent return on their investment due to the rising prices over the past two years.
As we all try to adjust to the shift, houses are being listed based on pricing from the height of the market, as a result they are being rejected, creating an increase in days on market, a price reduction or are being completely withdrawn.
Although we are not seeing as many multiple offer situations, great houses, listed well are still moving.
We are expecting November to look similar to October with the typical seasonal slow down as we head into the holidays.
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.
