Wayne Cty. Market Stats. 1st Qtr 2008

The first quarter of 2008 was a similar reflection of the overall housing market in the United States. A positive note to bring out of the doom and gloom is that we have fared much better than many other state and metropolitan markets. Our average time on market is still under 6 months! Many states are still over a year or longer on market.

The stats do show a slowdown and an adjustment in prices by about $2,000 on average from the 4th quarter of 2007. Average days on market did increase but not by a huge amount as everyone might have expected. The tightened credit market did reduce the overall sales volume, but personally I am very happy with our local market considering the state of affairs for the country. The number of new listings increased, but this is normal for sellers to get listed and prepared for the spring market increase.

Our current trends are looking upward at the moment. Sellers have been reducing their homes to market bearing prices and homebuyers have responded. The response has been much quicker than the previous year as well. Also, after many delays by the government, Seymour Johnson is finally starting to see a trickle of the net gain of approximately 300 families that are moving to Goldsboro. MyGoldsboroAgent.com is booking with buyers fast for the summer months from this historically significant move. Much of the economic development you are currently seeing such as new restaurants, stores, and apartments have been in anticipation of this sudden population increase for Goldsboro/Wayne County.

I feel fairly confident that the military move may be the shot in the arm that our housing market needs until the overall market turns around. This should keep our market balanced and if expert's predictions are correct, the 2009 housing market should be very close to getting back to normal.


Total New Listings During This Time Frame: 477

Average Sold Price: $134,132

Average Days on Market: 144

Total Home Sales Sold Dollar Volume: $32,057,493