2016 First Quarter Home Sales in Clayton, NC
Hard to believe it is already April of 2016, but here we are and Spring is upon us. With Spring time comes the traditional home selling season although for certain priced homes that season started a while ago. There is a shortage of homes in certain priced points that when they do come on the market they are snapped up immediately. Many Clayton real estate agents have buyers for homes but no homes available for them and this is true in other towns in the Triangle real estate market. Builders are trying to keep up with the supply of homes which has dwindled to 2.8 months in the Triangle Region and is at 3.3 months in Johnston County.With build times of 4-6 months that puts pressure on home buyers who are anxious to take advantage of this long period of lower interest rates.
Where Are Homes Selling The Most?
There were just under 350 homes sold in the Clayton market which is made up of all homes with a Clayton mailing address and the homes sold ranged in price from $15,000 up to $660,000. The subdivisions in Clayton that had the most sales in the first quarter of 2016 were predictably the two biggest developments Flowers Plantation which had forty four home sales and Riverwood Athletic Club which had twenty seven home sales. Glen Laurel had twelve home sales, Barefoot Landing had ten home sales, Chandlers Ridge and South Plantation had 8 home sales, Bristol and Lions Gate each had 7 home sales. There were sixteen homes sold that were not in a subdivision and they came in all shapes and sizes from a .25 acre town lot to a 15 acre property with a pond. The resale homes sold in an average of 66 days and they generated 98% of the list price when they sold.
New Construction Home Sales
New construction accounted for over 40% of the homes sold in Clayton in the first quarter of 2016 with 146 new homes sold with prices ranging from $105,000 up to $660,000. The average sale price of a new home sold in Clayton was $246,210. In 2012 the average sale price of a new home in Clayton was $230,500. Clayton is the best deal for home buyers in the triangle who want a new home with all the great features you typically find such as granite countertops, stainless steel appliances and energy efficiency. Home prices often lower than most other towns and sometimes for the same house. The choice of new homes and builders is growing as more national and larger builders are drawn to the area. In Clayton you can also find local custom and semi custom builders who offer a more personalized approach and unique design elements. The Johnston County Association of Realtors together with the Home Builders Association of Johnston County hold their annual Parade of Homes in the Spring allowing home buyers the opportunity to tour new homes in many price ranges and subdivisions throughout the county. The 2016 Parade of Homes runs for three weekends, April 16-17, April 23-24, and April 30-May 1. Regular attendees of the Parade can expect to see a number of new subdivisions in and around Clayton as more and more developments are in the works.
Increase In Home Sales From Previous Year
The 2016 Johnston County real estate market is showing stronger sales gains over 2015 when compared to the entire Triangle Region. Closed home sales in February are up 20% in Johnston County and up 12% in the Triangle when compared to the previous year. The lack of inventory of resale houses and new home construction not yet filling the gap could offset this a bit, however there are probably folks who have been waiting until Spring to list their house in Clayton and we could see more homes on the market in the coming months. There are a number of new subdivisions where the homes have either just started to appear in the TMLS and some with homes not yet ready to list. I suspect some of these subdivisions will sell quickly with homes in the low to mid $200,000’s, larger home sites and neat floor plans with ranch homes and two story homes. The Active Adult or 55 Plus communities in Clayton are starting to appear with a number already started and more scheduled. This is a fairly new concept for the area and again the home prices and quality are hard to beat for the folks looking for a maintenance free lifestyle.
Do you need more information about the Clayton, North Carolina housing market or are you planning on buying a home in Clayton in the future? If so you can call or text us at (919) 601-2268 or email at email@example.com