Sold Prices Nearly Double In 5 Years

Bill Hitchcock

YTD_Lot

Lot Sold Prices Nearly Double in 5 Years
The Neuse River area shows strength
I know, I know it sounds odd. How could there possibly be signs of strength during these interesting times, right? But if you look past the hyperbole of the hierarchy and the prognostications of the pundits and just stare fact in the face-You’ll see that the market and its price are just fine.

I don’t know of too many people who would complain about their investment doubling in 5 years. In fact, according to the National Association of Realtors a home value doubles every 10 years. But in the Neuse River area the average YTD sold price for a lot went from $49,000 in 2004 up to $93,000 this year.

The problem comes in when folks get stuck looking at 2006 and 2007 when everything real estate was historically, well-Nuts!

Maybe it’s just me. Maybe because I tend to look medium to long range. Maybe because I just like real estate and love eastern North Carolina. But maybe, just maybe the reality of the situation is actually pretty good. After all-Doubling your money in 5 years is a good thing, right?

Disclaimer time! Do I know what the future holds in store for us all? Of course not, no one does. All we can do is look at the facts that lead up and end up to right now.

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Author’s Yougler Profile is at  Bill Hitchcock.

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