New Bern, NC

There is no doubt that the real estate market in the New Bern, NC metropolitan statistical area (MSA) is booming. The combination of low interest rates and a strong economy has resulted in increased demand for both new and existing homes. This has led to higher prices and more competition among buyers.

The following are some trends that are currently shaping the housing market in New Bern:

1) Low inventory of available homes - The number of homes for sale in New Bern is at an all-time low, which is driving up prices. This is especially true for entry-level homes, as first-time buyers are competing with move-up buyers and investors for a limited supply of properties.

2) Rising home prices - Due to the low inventory and high demand, home prices in New Bern have been rising steadily over the past year. The median sales price of a home in New Bern was $186,000 in 2017, which was up 8% from 2016. Prices are expected to continue to rise in 2018.

3) Increased competition among buyers - With so many people looking to buy a home in New Bern, competition is fierce. Buyers need to be prepared with their financing lined up and be ready to make an offer quickly when they find a property they like. Multiple offers are becoming more common, so buyers need to be prepared to pay above asking price if they want to win a bidding war.