Wayne Cty. Market Stats. 4th Qtr 2007

The 4th quarter of 2007 was a reflection of the state of overall housing issues facing NC and the nation. Wayne county has grown over past several years, which has lead to a greater number of potential sellers as reflected in the number of total new listings. This new listings figure has continued to rise and has caused a glutton of inventory for real estate companies. The average sales price decreased and the days on market increased even as total volume remained stable. The main issue is that the volume is not increasing to keep up with the number of new listings on the market. At one point during the months of Nov. and Dec. there were over 150 listings in the $200,000 - $225,000 price range alone. So, if your home was for sale in the price range, you were lucky to have a showing with 8-10 in 150 odds per homebuyer. The positives of this market are that we have not seen a great decline in volume and buyer activity is still strong regardless of the negative news and media. Based upon buyer calls and web activity, we see a definite increase in sales volume for the first quarter of 2008.



Total New Listings During This Time Frame: 448
Average Sold Price: $136,073
Average Days on Market: 137
Total Home Sales Sold Dollar Volume: $35,651,068