Rocky Mount, NC

The following are indicators of the Greater Rocky Mount Area Real Estate Market. These statistics were gathered from data contained in the Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina.

Active residential listings totaled 1098 properties. This is a decrease of 56 properties, or 4.9%, from 1154 in September. Inventories typically rise in the fall as the number of buyers dwindle heading into the winter.

Newly listed properties totaled 167. This is a decrease of 29 new listings, or 15%, from 193 last month.

Sold properties totaled 88. This is an increase of 22, or 25%, from last month's total of 66 residential properties sold.

Pending sales totaled 115. This is an increase of 39, or 33.9%, from last month's total of 76 properties pending settlement.

The Greater Rocky Mount Area currently has a 13.5 month housing supply based on the previous 12 month sales rate. This is a decrease from the 14 month supply in October 2008.

Overall the local real estate market in 2008 is down by 24.9% for the first 10 months of the year when compared to the same period in 2007.

What does all this mean? The last several months have been significantly slower than they should have been. The local real estate market is in its second year of decreased sales and the credit crisis has definitely had a negative impact.

The local housing market is very saturated with available housing. Therefore, 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 allows buyers to obtain concessions from sellers that they would not receive in a balanced market.

What is considered a "Balanced" or "Normal" market? Typically this is when houses sell between 3 - 4 months.

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.

David C Recker, Associate Broker, licensed in North Carolina. David works at RE/MAX Classic Realty and can be reached at: 252-442-2687

Copyright © 2008 By David C Recker, All Rights Reserved. Rocky Mount, North Carolina Area - Market Statistics for October 2008. Contact David C Recker for all your real estate needs.

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Property information

The following are indicators of the Greater Rocky Mount Area Real Estate Market. These statistics were gathered from data contained in the Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina.

Active residential listings totaled 1026 properties. This is an increase of 6 properties, or 1%, from 1020 in April. Inventories typically rise this time of year as sellers take advantage of the summer market.

Newly listed properties totaled 222. This is an increase 26 new listings, or 22%, from 196 last month.

Sold properties totaled 95. This is a decrease of 15, or 14%, from last months total of 110 residential properties sold.

Pending sales totaled 111. This is a decrease of 2, or 2%, from last month's total of 113 properties pending settlement.

Click Here to read this entire report.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2008 By David C Recker, All Rights Reserved. Rocky Mount, North Carolina Area - Market Statistics for May 2008 Contact David C Recker for all your real estate needs.

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Rocky Mount, North Carolina Area - Market Statistics for April 2008

Inventories Hold Steady

2007 Annual Rocky Mount Area Real Estate Market Report

Part of the reason so many houses here in the Rocky Mount area stay on the market for so long is that they are over priced.

There are many reasons why Realtors list homes that are over priced but that's not the topic of this post. I want to stick with the benefits of pricing your home correctly from day one.

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Visit David C Reckers website, www.NCRealEstateWeb.com, and Blob www.NCRealEstateWeblog.com for more information about Dave's services, service areas, and local information.

Sometimes as we sit back and evaluate ourselves we realize that things are as they should be. Other times we realize that we have missed the obvious. This is one of those days when I have realized that I have missed the obvious.

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