 Be sure to see the data at the bottom of this blob that share data about two counties at The Crystal Coast, Swansboro to Beaufort. Fall & Winter might be the best time to consider buying & selling a home. Once summer ends, sellers have less competition as there are fewer homes on the market. This is a positive for the seller as there is more demand for homes for sale from the buyer in fall and winter. Across the Triangle Region as per The Triangle MLS, The Median Sales Price increased 0.7 percent to $407,990. The buyers that are highly educated by their real estate professional understand that a higher interest rate is not for ever. "Be married to the home not the rate." You can refinance when rates go down. Brian Buffini and Dr. Lawrence Young have both predicted lower interest rates in 9 months or so. This is due to an election year. As history tells us, there has in most cases been a rate decrease in an election year. Check out Brian Buffini's Bold Prediction. On the national level as per the National Association of Realtors, Prices have continued to increase this fall despite softening home sales nationwide, as a lack of inventory has kept the market competitive for prospective buyers, sparking bidding wars and causing homes to sell for above asking price in some areas. Heading into September there were only 1.1 million units available for sale, 0.9% fewer than a month ago and 14.1% fewer than the same period last year, according to NAR. As a result, the U.S. median existing home sales price rose 3.9% year-over-year to $407,100, marking the third consecutive month that the median sales price topped $400,000.  The Triangle MLS goes on to point out that, “new Listings in the Triangle region decreased 17.2 percent to 3,817. Under Contract Sales were down 10.0 percent to 3,126. Inventory levels fell 17.1 percent to 5,561 units. Prices were fairly stable. The Median Sales Price increased 0.7 percent to $407,990. Days on Market was up 31.3 percent to 21 days. Sellers were encouraged as Months Supply of Inventory was down 5.3 percent to 1.8 months." "Falling home sales have done little to cool home prices, however, which have continued to sit at record high levels nationally thanks to a limited supply of homes for sale. According to NAR, there were 1.11 million homes for sale heading into August, 14.6% fewer homes than the same period last year, for a 3.3 months’ supply at the current sales pace. The shortage of homes for sale has boosted competition for available properties and is driving sales prices higher, with NAR reporting a national median existing-home price of $406,700, a 1.9% increase from a year earlier.”  In Chatham County, there was a 26.1% decrease in new listings in September. The number of closed sales decreased between 2022 and 2023, falling from 121 to 103 or by 14.9%. The median sales price increased by 0.6%, which meant in September, Chatham County's median sales price was above the median sales price for all Triangle MLS listings.  In Durham County, the average September median sales price increased from $410,500 in 2022 to $425,00 this year, or by 3.5%. New listings and closed sales both decreased, by 21.6% and 14.7% respectively. The September median sales price in Durham County was a bit higher than the median sales price across all the Triangle MLS listings.  In Wake County, there was a decrease of 21.5% in the number of new listings compared to September of last year. The number of closed sales also decreased, by 19.3% percent. The median sales prices increased by 0.7% year to date, to $479,900, which is higher than the median sales price for all Triangle MLS listings.  In Carteret County, there were 180 new listings, comprising residential and multi-family properties. There were 134 sold properties in September. While the average list price was $736,210, the average sales price was $572,318, the average list price shows to be increasing significantly in October, which is good news for sellers.  In Onslow County, there were 1,137 active and 495 new listings in September, comprising residential and multi-family properties. There were 429 sold properties in September. While the average list price was $385,733, it shows to be increasing to an average of $420,258 thus far in September.
If you’re ready to buy or sell at the beach in Carteret or Onslow County, Carl Johnson Real Estate can help you at the Crystal Coast. Give us a call at Carl Johnson Real Estate--919-880-0904 to learn more about how we will help. To learn more about the Crystal Coast CLICK HERE.
0 Comments
  The October 2023 Institute for Luxury Home Marketing monthly trend report is out now! The following is per the Institute for Luxury Home Marketing October 2023 Market Report: In a continuation of last month’s report, we take a deeper dive into the upcoming trends for the rest of 2023 and early 2024, especially as the market has seemingly settled into a new norm. In general, the market remains statistically favorable to sellers mainly due to the continued lack of inventory. Experts are predicting that home prices will continue to rise, at least during the rest of 2023, but notably at a considerably more moderate pace. Pricing is still being controlled by lower-than-average inventory levels, which itself has become a major driver of the market’s status. While it’s predicted that interest rates are likely to fall, albeit not until late 2024, it still seems unlikely that prices will decline as higher demand will offset any negative increases in inventory levels. Most analysts and economists predict, according to a report from Norada Real Estate Investments, that over the next five years, prices will remain either flat or will only experience a modest decline. Paired with more robust lending standards, no one anticipates a similar price crash to the one that occurred in 2008. However, buyers, especially those looking to purchase with cash, recognize that the current market does now offer more opportunity as well as some additional negotiation leverage. Despite the significant drop of demand and sales in the latter part of 2022, the first nine months of 2023 showed an upward trajectory for both home prices as well as sales for single family homes. Attached home prices saw more variation, but the volume of sales also increased. Month-over-month between January and June, sales increased. While they dipped in July, typically a slower month as people escape for vacation, August’s figures show an uptick in demand.  Although sales and prices have not returned to the same heights as the first quarter of 2022, which was probably the top of the market in terms of price and demand, the current trajectory signifies a steady demand for luxury properties. This bodes well for the upcoming fall/winter market, especially when compared to the same period in 2022.  Luxury homeowners are investing in smart home technology as it improves the quality of their lifestyle by creating healthier environments, controlling daily routines, and providing security and safety when at home or even at a distance. Some of the key trends in smart home technology for 2023/2024 include: 1. Voice control: The use of voice assistants like Amazon Alexa and Google Assistant to control various smart devices has been growing and is expected to continue, along with improved voice recognition technology in kitchen appliances. 2. Smart appliances: More appliances, such as refrigerators, washing machines, and ovens, are becoming smart and interconnected, allowing for remote monitoring and control. 3. Energy efficiency: Smart home devices designed to increase energy efficiency, such as smart thermostats, LED lighting, and energy monitoring systems, are becoming more popular as people seek to reduce energy consumption and lower utility bills. 4. Security and surveillance: Demand for smart security systems, including video doorbells, smart locks, and home monitoring cameras, are on the rise as people prioritize home security. 5. Home automation: Integrating various smart devices into a central automation system for convenience and efficiency is a growing trend, especially by tech-savvy homeowners. This includes controlling lighting, heating, cooling, and entertainment systems through a single interface. 6. Health and wellness: Smart home technology is increasingly being used to monitor health and well-being, including fitness trackers, sleep monitors, and air quality sensors. For homeowners looking for their next home, it is still important to recognize that although costs to purchase will be much higher currently, over the long-term, real estate offers one of the most consistent ways to see a good return. More importantly, ownership provides security and a haven for their family.
Did you know that Carl Johnson is certified as an Institute for Luxury Home Marketing Specialist, CLHMS, which means he offers superior knowledge and experience in the luxury market? His CLHMS membership also provides him with access to an elite network of contacts and resources that help to find you your dream home from Swansboro to Beaufort and beyond. If you have a high-end listing, using the most up-to-date marketing information, Carl positions your listing ahead of the market curve. Call 919-880-0904 for a consultation or CLICK HERE.  Original Content by Carl Johnson My knowledge and experience has taught me that there is a common misconception that Spring is the only time to sell a home, and I will tell you why. I have personally listed a property for sale the weekend before Dec 25th, and we got an offer on that property and went under contract in just a few days. The property was located at, 5105 Sweet Clover Durham, NC, sold in 4 days and with multiple offers at $8,000 over list price. Though I would never recommend putting a property on the market the weekend after December 25th or before January 1st, there is much untapped potential of having a home listed and on the market in the Fall into the early Winter. This is true especially in the market conditions we have currently as there is such a shortage of homes for sale.  When it comes to listing a home, at any time of the year, it is always important to take the steps to make sure you get the most value out of your investment. A home hitting the market as-is versus a home that has been refreshed with paint, staged accordingly, and or cleaned up to be move-in ready will always attract more buyers and attention. If these steps are taken while listing a home in the fall and winter months, it gives a unique opportunity to show a home as being welcoming and cozy. Picture a fireplace lite during showings, light music playing in the background as clients walk through. Listing a home in this upcoming season can allow any potential buyers to truly picture themselves right at home in your property. For example this property at Sweet Clover previously mentioned, there was a fire in the firepit on the patio during the open house. (We go the extra mile to make your property stand out from the crowd.) Though we have not had a listed property during the weekend of Thanksgiving at Carl Johnson Real Estate, I would not shy away from it. Thanksgiving break is a time people are often home and enjoying the ins and outs of the area looking for things to do. Also there are visitors looking for homes to buy often during a holiday weekend. In fact I have a buyer this year that is tournign homes during the Thanksgiving holiday. A home newly on the market during this holiday and or Fall/winter time has the opportunity to grab the attention of many who otherwise wouldn’t as easily find the time to see a property. Do not let your fears of listing a home outside of Spring stop you from working with a Realtor when the time is right for you. If the time is right we will make it work for you and deliver the best results possible. There is always demand for homes, especially in the hotspot of the Triangle and the coast. There is a housing shortage making houses at a premium. Buyers are aware of the interest rates and those in the market for a property need a house no matter what the lending rate is. The Triangle and the NC Coast is in a high interest market as it is an area that is still seeing a large influx of people moving in. According to The Herald-Sun “the Triangle market’s resiliency is due, in part, to demographic changes, said Roberto Quercia, a professor in the school’s department of city and regional planning. Raleigh was listed as the nation’s top in-migration destination in a 2022 North American Van Lines report, he said. (7 big trends reshaping Triangle housing market, experts say | Durham Herald Sun) People are moving into the area no matter what the interest rates are as the new residents need a place to live. The Herald-Sun article also states buyers “consists of college-educated workers moving to the Triangle for tech and other high-paying jobs. “That’s kept the floor in terms of prices and demand,” Quercia said. (7 big trends reshaping Triangle housing market, experts say | Durham Herald Sun). In general buyers in the Triangle market are not shying away from homes and are both willing and able to purchase properties in this market. Since housing inventory is down, we are seeing a trend of new construction home purchases increasing. The Herald-Sun article states that “according to the National Association of Home Builders, nearly a third of all homes for sale nationally in July 2023 were new construction” (7 big trends reshaping Triangle housing market, experts say | Durham Herald Sun). And new construction homes may be the answer depending on where you are looking to buy. However, in popular Durham and Raleigh locations near the city, there is not much land, if any, for new construction options.  Beautiful established neighborhoods with tree lined streets and welcoming front porches will always be a stable and hot commodity in the Triangle. Our homes are a part of North Carolina's history and one of the reasons why the Triangle market has attracted so many to the area year after year. We need your home! We have buyers looking in the area who need a property. Work and personal needs will always have people needing a home no matter the market or time of year, that is why if you are ready to sell it is always the right time. We are here to help you win in this market and will use our knowledge base and skill to make sure you get the most value out of your home. CLICK HERE to contact us today and let us work together to reach your property goals.   When you take a moment to perform an act of kindness, the benefits go well beyond the act itself. We never truly know what is going on in someone’s life. Taking the time to show them you care, even with the smallest gesture, may be the one thing that can turn their day around. Here are some fun ways you can spread random acts of kindness. These are simple but impactful things you can do for your friends, family, and others in the community.   At Carl Johnson Real Estate, we are so thankful for your friendship and the kindness that you have shown us. We love to hear from our clients and our fellow REALTORS®! CLICK HERE to check out our testimonial page to read what everyone is saying about Carl Johnson Real Estate and see why we are so very grateful for you!
 As we're heading into the busiest travel season, here are some easy ways to keep yourself feeling good while you're on the move, whether you're driving or flying. Let's cover some tips for getting good sleep, making sure your food and drinks are safe, and sneaking in a little activity along the way.  Remember, these little steps can make a big difference in how you feel during and after your travels. Happy and healthy journeys!
If you’re looking for a top-performing real estate agent, Carl of Carl Johnson Real Estate is the Triangle’s leading professional. He has a high knowledge of the communities and the real estate market. With his guidance, expertise, and tech savvy on your side, you’ll have what you need to navigate the upcoming 2024 market with confidence. CLICK HERE to learn more.  Original Content by Carl Johnson,
One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy in the Triangle Area? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why. There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply. Underbuilding Is a Long-Standing Problem One of the big reasons inventory is low is because builders haven’t been building enough homes in recent years. Based on statistics, for 14 straight years, builders didn’t construct enough homes to meet the historical average underbuilding created a significant inventory deficit. And while new home construction is back on track and meeting the historical average right now, the long-term inventory problem isn’t going to be solved overnight. Today’s Mortgage Rates Create a Lock-In Effect There are also a few factors at play in today’s market adding to the inventory challenge. The first is the mortgage rate lock-in effect. Basically, some homeowners are reluctant to sell because of where mortgage rates are right now. They don’t want to move and take on a rate that’s higher than the one they have on their current home. Please note that the well informed buyer knows that they are able to refinance in the near future when there is a possible rate reduction as there usually is in an election year. The cost of refinancing is a cost benefit. With the possible rate reduction the supply and demand is again more demand than supply that we project will make it harder for buyers to have their offer accepted. Misinformation in the Media Is Creating Unnecessary Fear Another thing that’s limiting inventory right now is the fear that’s been created by the media. You’ve likely seen the negative headlines calling for a housing crash, or the ones saying home prices would fall by 20%. While neither of those things happened, the stories may have dinged your confidence enough for you to think it’s better to hold off and wait for things to calm down. Our best advise is to pay attention to the local marketing and ask an expert what is really happening in the real estate market. The Triangle often out performs the national average. How This Impacts You If you’re wondering how today’s low inventory affects you, it depends on if you’re selling or buying a home, or both.
The low supply of homes for sale isn’t a new challenge. There are a number of long-term and short-term factors leading to the current inventory deficit. Whether you are looking to buy or sell a home, we want to be here for you. CLICK HERE or call 919-880-0904 and we can start the conversation on how we will help you reach your real estate goals. That way you’ll have an expert on your side to explain how this impacts you and what’s happening with housing inventory in your area.   Last Week To See This Show, Oct 18th - 22nd. After a 12 year hiatus from theatre, Carl Johnson has returned to the stage in the role of Bobby for the upcoming production of Cabaret with the Stone Soup Theatre Company. Carl is honored to be cast in this role and to perform with such a talented cast. (Stone Soup Theatre Co. was just nominated by the INDY for best theatre com. in Orange co.)
Carl has been singing since 3rd grade and frequently found himself on stage throughout for the rest of his life. Most recently, Carl has been performing as a Tenor with The Durham Savoyards, Long Leaf Opera, Duke Chapel Choir, just to name a few. Carl is very excited to be back on stage. LIMITED CABARET TABLE SEATING: Buy your ticket now Don't just see Cabaret - experience it! Each performance includes general seating as well as only 4 Cabaret 2 top Tables up front for each performance. Each table seats 2 and includes a choice of of a bottle of wine or sparkling juice before the show starts, 2 commemorative wine glasses and dessert at intermission. Buy your table NOW before they sell out. This is also a great way to support Stone Soup Theatre Company as proceeds serve as a fundraiser. 1930's style clothing is welcome (but not at all necessary). click here to RESERVE YOUR TABLE or purchase general seating NOW before they SELL OUT Cabaret the Musical, Comes to the Triangle by Nita Tyndall “There was a Cabaret, and there was a Master of Ceremonies, and there was a city called Berlin in a country called Germany and it was the end of the world.” So goes the last spoken line of dialogue in Cabaret, the musical by John Kander, Fred Ebb, and Joe Masteroff that opened on Broadway in 1966. Based on Christopher Isherwood’s semi-autobiographical novel I Am a Camera, the show follows American Cliff Bradshaw as he experiences the vice and (excitement) of 1929 Berlin, only a few years before the Nazi party would rise to power. Stone Soup Theatre Company, a Triangle community-based non-profit theater company created to serve local enthusiasts and performing artists in the communities of Durham and Chapel Hill, NC, will be returning to the Wynn Theatre 300-G E Main St, Carrboro, NC 27510 to produce the Broadway smash hit CABARET. The production will run Oct 13, 14, 15, 18, 19, 20, 21 and 22. Daring, provocative and exuberantly entertaining, Cabaret explores the dark and heady life of Weimar-era Berlin as Germany slowly yields to the emerging Third Reich. Founded in 2021 as a community-based non-profit, Stone Soup’s mission from day one has been to serve the local community via the arts. Their inaugural production was Something Rotten in 2021, and since then the company has expanded, adding new shows every year. Last year’s season saw shows like the classic Into the Woods as well as new musical Ride the Cyclone (the first production in North Carolina). This year, they’re expanding even more, with Cabaret this October, Romeo & Juliet in April 2024, and The Spitfire Grill next June. All shows will be produced at the Wynn Theatre in Carrboro (formerly the Arts Center, now owned by the Center Theater) at 300-G East Main Street. Although still a relatively new theatre company, Stone Soup is already establishing itself as a force in the local theatre scene, nominated as one of the “Best Theatre Companies” in Orange and Chatham counties by the Indy Weekly. Much like the short story for which the company is named, director and founder Melissa S. Craib Dombrowski and music director and founder Dr. Joanna Sisk-Purvis were driven by a desire to create a theatre company that would serve the entire community, filling a hole for local community theatre that’s perhaps been missing in the Durham/Chapel Hill area and providing an avenue to theatre outside of local touring Broadway productions or university shows. Both certainly have the credits to pull off such ambition—Dombrowski has regularly been recognized in regional awards for Best Director, Best Adapted Script, and Best Choreographer, while Sisk-Purvis has musically directed for youth and community theatres in Los Angeles and North Carolina. Cabaret is certainly a departure from last year’s productions, but a necessary one. The meta format of the show, where scenes of everyday life in Weimar Republic Germany are interspersed with at turns bawdy and touching songs like “Don’t Tell Mama,” “Maybe This Time,” and “Money,” is accentuated by the character of the Emcee, the Master of Ceremonies hosting the show—and the only character who’s aware that the show is a performance at all, consistently breaking the fourth wall to interact with the audience. Brady Bowman, a recent graduate of UNC Chapel Hill, plays the Emcee in this production. Previously, he was seen in Stone Soup’s production of Ride the Cyclone as Noel. Kayla Petrille plays Sally Bowles, an English Cabaret singer whose tragic arc and relationship with Cliff is the through-line of the show. Petrille, a voice teacher, was also last seen in Ride the Cyclone as Jane Doe. Rounding out the trio playing Cliff Bradshaw is Jason Rune, a master’s student at UNCG studying vocal pedagogy. The electrifying voices on the three leads are supported by a strong cast of local actors in the ensemble and supporting roles, as well as a full orchestra of local musicians led by Sisk-Purvis. Stone Soup’s vision for the show puts particular emphasis on the queerness of the characters. “In a time where LGBTQ rights are being challenged right and left, and book bans are sweeping the country, Cabaret feels more important now than ever,” says Dombrowski. Cabaret is a show that doesn’t shy away from showing the darker sides of life in the Weimar Republic, but it also takes time to revel in the joys and relationships among the characters, particularly the romance between Fräulein Schneider, an aging landlady (played by Mickey Reed), and Jewish fruit store owner Herr Schulz (played by John Adams.) While their sweetness of their relationship is underscored by the threat of the rising Nazi regime, Dombrowski also lets shine the sweetness and humor between the characters. “They’re the true love story in the show,” she said. And it’s moments like that—the real, human moments in Cabaret—that make the show so timely and touching, and this particular production one that can’t be missed. What: Cabaret the musical Who: Stone Soup Theatre Company When: October 13-15, 18-22 Where: Wynn Theatre, 300-G E Main Street, Carrboro, NC Buy tickets: https://stonesouptc.ticketleap.com/ https://stonesouptheatreco.com/ Instagram, Facebook: @StoneSoupTheatreCo  The anticipated return of Carl Johnson to the stage is finally here. Carl portrays the role of Bobby in the production of Cabaretwith t he Stone Soup Theatre Company. (Stone Soup Theatre Co. was just nominated by the INDY for best theatre com. in Orange co.) Running Oct 12-22, seating is very limited and tickets are selling quickly. Do not miss this exciting chance to see Carl’s return to the stage after a 12 year hiatus.
Carl has been singing since 3rd grade and frequently found himself on stage throughout for the rest of his life. Most recently, Carl has been performing as a Tenor with The Durham Savoyards, Long Leaf Opera, Duke Chapel Choir, just to name a few. Carl is very excited to be back on stage. Cabaret Story Synopsis: Daring, provocative and exuberantly entertaining, Cabaret explores the dark and heady life of Bohemian Berlin as Germany slowly yields to the emerging Third Reich. In a Berlin nightclub, as the 1920's draw to a close, a garish Master of Ceremonies welcomes the audience and assures them they will forget all their troubles at the Cabaret. With the Emcee's bawdy songs as wry commentary, Cabaret explores the dark, heady, and tumultuous life of Berlin's natives and expatriates as Germany slowly yields to the emerging Third Reich. Cliff, a young American writer newly arrived in Berlin, is immediately taken with English singer Sally Bowles. Meanwhile, Fräulein Schneider, proprietor of Cliff and Sally's boarding house, tentatively begins a romance with Herr Schultz, a mild-mannered fruit seller who happens to be Jewish. Musical numbers include "Willkommen," "Cabaret," "Don't Tell Mama" and "Two Ladies." LIMITED CABARET TABLE SEATING: Don't just see Cabaret - experience it! Each performance includes only 4 Cabaret 2 top Tables up front. Each table seats 2 and includes a choice of of a bottle of wine or sparkling juice before the show starts, 2 commemorative wine glasses and dessert at intermission. Buy your table NOW before they sell out. This is also a great way to support Stone Soup Theatre Company as proceeds serve as a fundraiser. 1930's style clothing is welcome (but not at all necessary). click here to RESERVE YOUR TABLE NOW before they SELL OUT  Carl Johnson Real Estate is excited about a new development coming to the Durham area. As reported in The Triangle Business Journal, A longtime retail center near Downtown Durham is set for new life with two mid-rise towers in the first phase of a huge development. It is expected to cost hundreds of millions of dollars.
National developer Sterling Bay and real estate firm Acram Group have submitted new site plans for the first phase of the Heritage Square redevelopment, which sits just south of the Durham Freeway. Phase one will include an 11-story lab and office tower and an 18-story residential tower. The first phase involves more than 1 million square feet of mixed-use space. Plans show there will be 328 multifamily units, 316,041 square feet of lab and office space, 16,238 square feet of retail space and a parking structure. The retail space appears to be on the ground-level of both buildings. There will also be about 4,500 square feet of public open space that will include a pedestrian mall, according to the plans. A representative from Sterling Bay said the development will cost around $500 million and that construction will start in 2024. Construction for the first phase will take about 24 months. The company, based in Chicago, declined to comment further on the development. Site plans show three buildings on-site will be demolished to make room for phase one. Those three are single-story brick buildings with mostly shuttered businesses and a still open Mexican restaurant. With strong population growth and a solid economy, the real estate market is booming in Durham, North Carolina is continuously increasing. This new project will only enhance that trend. If you are looking to invest in local real estate or need any assistance with the Triangle market, Call 919-880-0904 for a consultation or CLICK HERE for more info about us. |
Archives
September 2024
Categories
All
|
RSS Feed