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Chart 2.1: Average Prices of Sold Homes, past ten years
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Average sales prices were nearly identical from 2011 - 2012, bumped up some in 2013.
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Chart 2.2: Average Prices Per Square Foot of Sold Homes, past ten years
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Price per square foot is probably a more accurate measure of home prices, because if lower priced homes are selling, the average price would obviously be down. The average price per square foot peaked in 2007 at $170 and then went into a steady decline over the last several years, but in 2013, the number recovered to $129. |
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Chart 2.3: Prices of sold homes by zip code
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Prices were up in all zip codes, but most substantially in 28401, an area that had seen big declines since 2010. The Wrightsville Beach zip code also saw large gains of 15%, while Carolina Beach saw the smallest gain at just 1%.
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Chart 2.4: Bank Owned Property
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Trends in bank owned property. As you can see, bank owned sales and short sales peaked in 2012 and have dropped off quite a bit in 2013, both in terms of numbers and as a percentage of the overall market. In 2011, around 30%, or almost 1 in every 3 sales, was distressed. I expect that number will be down again in 2014. |
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