The following report is provided as a public service by David C. Recker, Realtor, RE/MAX Point East, Rocky Mount, North Carolina. The following are indicators of the Greater Rocky Mount Area Real Estate Market.These statistics were gathered from data contained in the local MLS system.
Active residential listings totaled 994 properties. This is an increase of 28 properties, or 2.8%, from 966 in December. This housing increase is typical for this time of year as sellers prepare for the Spring market.
Newly listed properties totaled 188. This is a decrease of 86 new listings, or 31%, from 274 last month.
Sold properties totaled 89. This is a decrease of 13, or 13%, from last months total of 102 residential properties sold.
Pending sales totaled 115. This is a decrease of 35, or 24%, from last months total of 150 properties pending settlement.
The Greater Rocky Mount Area currently has a 11 month housing supply. This is up from a 9.4 month supply in January 2007.
What does all this mean? The local housing market is still saturated with available housing. The increases we see in inventory this month are typical for this time of year. These indicators show that we are still in a strong "Buyers" market and will be for the foreseeable future. What is a Buyers market? This is when conditions exist that allow buyers to obtain concessions from sellers that they would not receive in a balanced market.
If you are looking to buy, this market is for you. In this market buyers typically get more for their money and receive seller concessions regularly.
If you are a seller this is not a bad time to sell. You just need to have a realistic expectation of your homes value and need to work with a Realtor that will provide maximum exposure for your property.
Feel free to contact me with any questions or comments you may have. Also, please visit my website http://www.ncrealestateweb.com/
