What can home buyers and sellers at the Crystal Coast expect as they look ahead to purchasing or selling real estate in the near future? This is a loaded question, loaded with many complexities, depending on the type of real estate you are seeking to buy or sell, and where you plan to do this buying or selling. After all, real estate is local. And, since I live on the Crystal Coast, I'll highlight some of the biggest local real estate trends and predictions, here, and speculate on what it all means for you as a buyer or seller. You can visit my website at www.EIHomesforSale.com where you can find help if you're buying or selling your home on the Crystal Coast of North Carolina. (Hint, that's my specialty!) AND request my free Guide to Living Where You Vacation or text your email address to: 919-308-2292 Keep reading for everything you need to know about the real estate market and let me know how I can help you this year.
EVEN MORE MILLENNIAL BUYERS Millennial home buyers are beginning to become a bigger influence on the real estate market here on the Crystal Coast. Some of this push is a reflection of the huge military presence in Carteret County and part of it is realizing that if you can work remotely, why not work remotely from the beach! 70% of Millennials surveyed said they would be willing to cut back on activities like spa trips, shopping and going to the movies to save money for a home purchase. This generation is willing to make lifestyle changes in order to buy a home, especially at the coast. Millennials also know their way around the internet and do tons of research this way, so if you're listing a home for sale, be sure your online marketing is spot on if you want to attract this group of buyers.
BABY BOOMERS ARE SELLING
Baby Boomer generation have provided the energy in the real estate market for decades and that will continue into the future. Here, in Carteret County, boomers make up the majority of homeowners and they will continue to do so as boomers from other parts of NC and the USA come to Carteret County seeking newer, low-maintenance homes with fewer stairs to climb and smaller yards to maintain. That translates into more demand for homes in the years ahead.
NEW CONSTRUCTION IS NOT BOOMING Due to the shortage of skilled labor and the number of homes still needing repairs from Hurricanes Florence and Dorian, new home construction in Carteret County is fairly stagnant here on the Crystal Coast. And, that trend more than likely will continue into 2021.
HOME PRICES ARE RISING Home prices are on the rise in Carteret County and that rise is steady. If people were waiting to see if house prices will eventally decline... that ship has sailed. Prices probably not going to decrease, unless, of course, the Crystal Coast experiences a devastating weather event.
STABLE REAL ESTATE MARKET FOR 2020 Overall, home buyers and sellers can expect the real estate market in Carteret County to remain solid in 2020. This sentiment appears to be validated by economists, lenders and builders alike. A possible wild card could be the 2020 presidential election. But even in a big election year, and no matter the outcome, with unemployment at record lows and consumer sentiment near all-time highs, it is unlikely the housing market will suffer a downturn in 2020. Only time will tell for sure, but home buyers and sellers can expect favorable conditions going forward this year, which is promising news.
LOCAL MARKET EXPERTS MATTER Consulting with experts in the Carteret County real estate market, like me, is always a wise decision. We know the local market conditions better than anyone because we are working in it every day. Save yourself a lot of time, stress, and hours of research by enlisting the help of an area real estate expert, like me, who are already up-to-date on all those things. Home buying and selling are major life decisions that are best made with expert advice.
EMERALD ISLE, NC REAL ESTATE INFO If you need help selling your Emerald Isle, North Carolina home or you're a home buyer looking to buy a beach home, retirement property, or vacation home—I am here to help you navigate the local market. I know the Emerald Isle market, as well as the greater Crystal Coast of North Carolina region. Contact me today at 919-308-2292 and let's get started!
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