Johnston County NC Home Sales Report August 2014
Johnston County continues to bounce back from the recession with double digit increases in closed home sales in August over the same month in 2013. The Johnston County NC home sales report for August 2014 shows there were 290 closed home sales in August of 2014 up from 229 sales in 2013, a 26.6% increase. Listings dropped from 366 in 2013 to 332 in 2014, this is a result of strong sales in the months previous when sales were up 5% in May 22% in June and over 10% in July over the same period the year before. Out and about it was obvious that the market for certain homes was getting strong and as we entered August there were certain neighborhoods that stated the year with inventory homes and ended with no homes left. Some of these neighborhoods do have vacant lots remaining where builders have started some homes. Others are built out and so home buyers have no choice but to wait for homes to come on the market.
Average Sales Price Of Homes Sold In August $177,927
The average sales price of homes sold in Johnston County in August 2014 increased a modest 2.6% from $173,456 in 2013 to $177,927. The median sales price increased from $164,000 in 2013 to $165,100 in August 2014. Days on market increased slightly from 97 days to 100 days so homes in Johnston County on average were selling in about 3 months. Remember this is just the average and there are many homes on the market much longer and on the other side of the spectrum there were homes sold in less than a week. The number of homes for sale was up slightly at 1,455 from 1,453 while the months supply of inventory decreased to 6.6 months of supply. All of this information has to be looked at in a general sense because you are looking at the whole county for a very short period of time. I always say, as do many that all real estate is local, and local means narrowing activity down to towns, subdivisions, streets, builders and prices. Some subdivisions sell homes like hot cakes while other struggle. Some builders are running out of lots while others are dropping their prices. Certain streets or cul de sac’s sell way better that other streets in a particular subdivision. Could be topography, some lots slope off while across the street they are flat, could be a highway or proposed commercial buildings.
Homes Selling For 95,7% Of Original List Price
The percentage of original list price received dropped to 95.7% while the percentage of list price received increased to 97.7%. One very important point about actual sales price received is that this does not reflect any seller concessions, so for example the seller agreed to pay $5,000 in closing costs for the buyer, the net result to the seller is the same as reducing the price by $5,000. Other concessions could include a warranty typically $500-$600 dollars. Any appliances that the seller agreed to leave with the house, refrigerator, washer and dryer etc. This is not reflected in the sales price, so it’s important to know these facts when you are thinking of making an offer on a home in Johnston County. One area where this is important to note is with new construction. Builders are reluctant to lower prices on new homes, rather they might offer an appliance package or closing costs to a potential home buyer.
Why Move To Johnston County, North Carolina?
What is the attraction for folks moving to Johnston County to buy their first home or the folks already here and buying a bigger or smaller home. The answer is varied and unique the underlying reason for most is affordability and quality of life. The Triangle of North Carolina has been growing over the years and it appears that will continue for some time. As more and more people from around the country realize there are places where snow shovels are optional. Where good schools and outdoor activities are plentiful, where the choice of homes and communities is not limited to cookie cutter neighborhoods, but rather a wide selection of homes and land is for sale. Johnston County has long been the place to get more house for your money, bigger lots with trees and privacy. Smaller subdivisions as well as larger planned developments, and just in the last year or so new supermarkets, restaurants and specialty stores have opened to serve the new population. Johnston County is predominantly a rural farming county with pockets of industrial/manufacturing. It’s proximity to Raleigh, Research Triangle Park, Raleigh Durham International Airport have been the driving forces for growth in the county coupled with affordable housing, good schools and small town charm. Some towns are experiencing growth more than others, Clayton is now the largest town in Johnston County, however the growth is coming to other towns like Four Oaks, Benson, and more.
Pay $133,360 More For A House In Cary Than Johnston County
To offer a comparison with Cary/Apex/Morrisville, for the same period August 2014 the average sales price was $311,287, days on market for homes for sale in Cary was 57, months supply of inventory 3.2. Allowing for the fact that most homes take around 5-6 months to build you can see there is a problem with supply and demand. There is also a lack of land as most of Cary is developed. This lack of inventory is creating a sellers market with many homes in desirable neighborhoods receiving multiple offers. That difference between homes sold in the Cary market compared to Johnston County is $133,360 higher! The average sales price in the Fuquay Varina/Holly Springs market for August was $245,752. The Town of Wake Forest had an average sales price in August 2014 of $295,111.
Looking To Move To Johnston County
If you are looking at Johnston County for your new home and would like a more detailed analysis of where to buy and what neighborhoods offer for amenities. What schools your kids will go to in Johnston County or where to find a no maintenance patio home give David a call at (919) 601-2268 or email email@example.com