The Housing Market in South Eastern North Carolina

[James P. Hill]

Have you wondered where the housing market is going in South Eastern North Carolina?

We know that people have certain needs according to Maslow’s Hierarchy of Needs.

Food, Clothing, and Shelter are the essentials that must be achieved before moving up the hierarchy. In today’s world we consider a home to be shelter. Let me say that again… In the United States… we consider a home to be shelter.

Some buyers and sellers are fearful and want to wait out this COVID-19 Virus Situation. And that is Okay. We understand and support our clients.

Then there are those buyers and sellers that must move. They can’t wait. We are working with those clients using the recommended safety precautions from all levels of government.

So what does all this mean? So how is the market? Leave a comment down below.

We are not anticipating a large fluctuation in property prices during this time. We believe we will see the pent-up sellers and buyers to move very quickly. Communicating with and listening to housing economists across the nation has led me to believe we will experience about 3 months of housing sales in a very short period…. A burst or flurry of activity if you will, once we are able to move about more freely. The housing market is stable and safe. Our current situation was caused by COVID-19 not a problem with the housing market fundamentals. Interest rates were adjusting up and down quickly but seem to be starting to steady.

We are taking it hour by hour, day by day, as we work within the COVID-19 Safety Precautions recommended by all levels of government.

The graphic below shows Pender and Onslow Counties of North Carolina.

Pender and Onslow County NC

As of April 17th, 2020, there are 1,695 properties actively listed for sale in Pender and Onslow counties with 1,212 properties are under contract or pending.

It is important to note that in March of 2019 this area was still recovering from a shortage of housing due to Hurricane Florence. The storm damaged plenty of houses which forced families to rent a house or live with family while their personal residence was being remodeled. Prices increased for both rents and sales following Hurricane Florence. 

Please feel free to reach out to discuss the housing market.

It takes a lot of professionals working together to get a property listed for sale and closed. These professionals are helping to keep the economy afloat while so many people are out of work and filing for unemployment. Here is short but not all inclusive list of professionals that many residential transactions require: Seller, Buyer, Realtor / real estate agent, interior stager, landscaper, handyman, contractor, HVAC technician, well inspector, septic inspector, home inspector, pest / termite inspector, surveyor, lender, loan officer, closing coordinator, insurance agent, attorney, paralegal, title company, photographer, marketing team, admins for many of the already mentioned professionals, and more professionals depending on the location or type of property.

This post includes but isn't limited to towns like: Jacksonville, Holly Ridge, Sneads Ferry, Hampstead, Surf City, the greater Camp Lejeune area, Topsail Beach, Topsail Island, North Topsail Island Beach, Hubert, Piney Green, Swansboro, Maple Hill, Richlands, Rocky Point, Burgaw, NC, and more.