Market Index - Q4-07
On a scale of 1 - 5 (1 being a Buyer's Market and 5 being a Seller's Market), the current market index is a 2.
Labor Market:
During the first two months of this quarter approx. 727 jobs were added to Lincoln County payrolls. The average monthly unemployment rate fell from 5.4% to 5.2% in October and November. The job situation in Lincoln County still remains a strong factor and should continue to increase the demand for housing. Both historically low mortgage rates and a steady job market should help to keep the market moving.
Housing Market: ***
| Q3-07 | Q4-07 | Q1-08 (forecast) |
Average Price | $278,300 | $261,700 | UP |
# Homes on the Market * | 560 | 524 | Down |
# Homes Sold ** | 177 | 131 | UP |
# New Homes Built *** | 107 | 79 | UP |
Avg # of Days on Market | 81 | 114 | Down |
* Available as of Dec. 31, 2007. ** May not add to total of zip codes. *** During the first two months of 1st quarter. |
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Data by Zip Codes for Q4 2007++
Zip Codes | Average Price | Price Change *** | Total # Homes Sold (Quarter) | % Change in # Homes Sold *** | Average Days on Market | % of Asking Price (Sold/List Price) |
28037 | $412,900 | 13.22% | 53 | -13.11% | 104 | 97.5% |
28080 | $150,500 | -8.84% | 12 | 33.33% | 79 | 93.9% |
28092 | $129,400 | -3.65% | 49 | 19.51% | 143 | 96.3% |
28168 | $103,400 | -16.00% | 3 | -50.00% | 68 | 92.7% |
OTHER | $281,700 | 11.70% | 14 | -51.72% | 94 | 95.4% |
*** % Change of current quarter compared to the same quarter a year ago.
++ Source: Carolina Multiple Listing Services, Inc. and the National Association of Realtors®
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