Good news: The local real estate market is growing

Good news: The local real estate market is growing

A home on Autumn Drive is listed for sale by Kinston Realty Group. Photo by Kinston Realty Group

The housing market in Lenoir County has gotten stronger, according to recent statistics.

In 2018, 297 homes were sold in the area, a 9.5 percent increase from the prior year and 12.5 percent from 2016. After a first quarter of 50 homes sold, the market picked up in the second (95) and third quarters (80) before finishing with 72 purchased in the fourth.

The average time for a house to be sold and price was approximately 125 days at $113,000.

David Edwards, owner of Edwards Realty Group, said the research was done with other realtors in order to give the Kinston-Lenoir County Chamber of Commerce a quarterly housing report.

“This helps the Chamber know the supply and when people make contact where to purchase a house, they’re up to date along the lines of the state of the industry,” Edwards said. “The Chamber can also see how many homes are available and support any new growth.”

He continued, “I think Kinston and Lenoir County is catching up with the Raleigh and Greenville markets — theirs have been growing for years and our is a little slower, but we’re on our way and doing better.”

Kinston Realty Group owner Jess Edwards said homes in the higher tiers are being purchased at a quicker rate in the area.

“It’s good to see the number of homes sold increase over the past three years,” Edwards said. “The average price is also increasing and if you look at the breakdown from ($50,000 or less, $50,001 to $100,000, $100,001 to $150,000 and higher), you’re seeing a shift in the higher price brackets.”

Nathan Perry, owner and broker of Nathan Perry Realty, said he hopes the positive trends continue.

“It’s great to see houses with higher prices being purchased and we hope to see executives who work at places like Sanderson Farms or West Pharmaceuticals move here,” Perry said. “Having people purchasing some of those homes definitely help out the economy in Kinston and Lenoir County.”

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