Lincoln County Real Estate Recap-March 2019

Hard to believe that 1st quarter 2019 has come to an end. It’s been a tough 3 months. With all the rain and crazy weather, I’m surprised that anyone wanted to purchase a home. Here is a quick recap of the sales results for March 2019.

  1. There was no significant change in closings from February to March 2019. Could this be the start of a trend?
  2. What is concerning is the decrease in sales when compared to closings from February to March 2018. In 2018 sales increased by 40% from February to March. In 2019 sales increased by 18% from February to March. The question is why was there such a small increase in sales I 2019 ?
  3. Good news is that new construction sales were up from February 2019.
  4. The number of permits pulled in 1st Quarter 2019 is down by 19% from 1st Quarter 2018.

Overall Market Activity March 2019

 QtyAvg
Sqft
Avg
DOM
Avg.
Sales Price
Months
Supply
Active Homes
on market
Total Sales88
100-199201,48253156,7061.531
200-299322,11963252,891.002.374
300-399212,835133346,654.003.574
400-49953,35484464,900.0010.653
500-59943,797141531,725.006.7527
600-69953,4986623,609.00420
700-7999
800-899 10
900-9997
1 million14,085221,038,857.001111

Monthly Recap-March 2019

Dec 2018Jan. 2019Feb. 2019March 2019
Total Units72517288
100-19918121320
200-29922192332
300-39916111821
400-4996685
500-5995154
600-6991145
700-79910
800-8991
900-99910
1 million2011
2 million0

Sold Market Percentage-2019

Sold Market
Percentage
Dec 18Jan 2019Feb. 2019March 2019April 2019May 2019June 2019July
Total Sold
7251728887113139105
Existing Homes72%76.5%76.4%64.80%68%77%77%78%
New
Construction %
28%23.5%23.6%35.2%32%23%23%22%

Active Market Percentage- 2019

Active Market
Percentage
Jan 2
2019
Feb 1

2019
March 6
2019
April
1
May
1
June 5th
July 3rdAugust
5
Total Active
283278289318332310316340
Existing Homes60%59 %59%63%65%67%65%66%
New
Construction %
40%41%41%37%35%33%35%34%

New Construction-Sold April 2019

 Qty
Avg
Sqft
Avg
DOM
Avg.
Sales Price
Total Sales28
100-1990000
200-299111,93473263,397.00
300-39982,522163353,479.00
400-49962,742250438,519.00
500-59923,79632544,900.00
700-79912,7920743,185.00

New Construction- Active Homes March 2019

Qty.Avg. Sqft
Avg.
Sales Price
Total Active118
100-19961,242169,150.00
200-299341,554248,321.00
300-399392,483351,856.00
400-499262,933440,862.00
500-59963,409530,113.00
600-69943,674639,475.00
700-799
800-89912,868821,900.00
1 million13,9571,240,000.00
3 million16,4733,850,000.00

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