The state of real estate

Published 7:39 pm Thursday, August 2, 2018

We are halfway through 2018 and real estate in eastern North Carolina and Beaufort County is red hot!

These are very exciting times as we approach sales numbers not seen in 12 years. Homes sales for the first six months of 2018 were at 297 compared to 235 during the first six months of 2017. That’s a 26-percent increase! The average home price increased to $199,473 during this period compared to $185,895 last year. That is a 7-percent increase.

The current inventory of available homes in Beaufort County stands at 335 homes. The average price is $275,437, and the average Days-On-the-Market is at 184. Home prices in Beaufort County currently range from $20,000 to $1.2 million. The average non-waterfront price, right now, in Beaufort County is $229,060.

Waterfront home sales during the first six months were even more impressive. Fifty-seven waterfront homes were sold in Beaufort County in the first six months of 2018, compared to 38 last year. That’s a 50-percent increase! Also, the average price of a waterfront home increased from $305,589 to $325,125. The DOM (prior to selling) also improved from 273 to 251 in 2018. The current inventory of waterfront homes in Beaufort County stands at 100 homes with an average list price of $390,952 and an average DOM of 240.

The sale of waterfront building lots of less than three acres is at 13 lots in 2018, the same as the first six months of 2017. Average price per sale decreased from $98,461 in 2017 to $66,496 in 2018. Average DOM increased from 209 to 241. Non-waterfront building lots of less than three acres improved from 30 in 2017 to 39 in 2018. The average selling price also improved from $25,235 in 2017 to $31,587 in 2018. Average DOM vastly improved from 545 in 2017 to 278 in 2018.

Currently in Beaufort County, there are 432 land tracts available, priced from $4,900 to $5 million. There are 120 waterfront land/lots available, right now, at an average price of $147,352.

There were 15 commercial properties sold in Beaufort County during the first six months of 2018 compared to just seven commercial properties sold in the first six months of 2017. The average price per sale is at $183,060 in 2018 versus an average of $186,785 in 2017. The largest commercial sale in Beaufort County so far this year was $2,745,900. There are currently 41 commercial properties available in Beaufort County with an average price of $350,253. Prices for available commercial properties range from $2,000 to $3,975,000.

Realtors in Beaufort County are working hard for our customers. Our listings are shared with more than 5,000 members of our NC Regional MLS. A property listed by a Beaufort County Realtor receives global exposure and is syndicated on more than 100 websites worldwide. If you are considering buying or selling a property in Beaufort County, contact a local Realtor for guidance on pricing, marketing and all the steps necessary to buy or get your property sold by a professional.

If you have specific real estate questions feel free to contact me, Tom Atkins, at or call me at 252-943-1169.

Tom Atkins is the owner of The Rich Company.