With prices up and inventory down, the market was hot for sellers in October, which is consistent with the trends we saw in August and September. In fact, the median home price in Asheville continues to show increase month over month. That said, we are seeing the months supply of homes has leveled off and in some cases risen slightly, meaning that market growth is becoming more consistent and less extreme. This conclusion is also supported by the data for days on the market, which has been ticking up ever since it hit the lowest point in years in June/July.
Asheville City Market Report
Buncombe County Market Report
If you’d like to see more data from these locations or want to know what’s happening in a different part of Western North Carolina, we invite you to email one of our agents or call us at 828-232-4030. We’d love to provide more information so you have a better picture of what these real estate trends mean for you.
DixonPacifica Real Estate is thrilled to announce that Bethany Behrmann has been promoted to Broker-in-Charge & Director of Recruiting. She has been a Broker/REALTOR with the company since March 2014.
“We’ve been representing buyers and sellers in Western North Carolina for almost four years and are excited about pursuing new growth opportunities and providing additional tools and support to our Brokers,” said Tad Dixon, DixonPacifica Real Estate Owner. “Bethany is a natural leader who has an excellent reputation amongst area real estate professionals and in our community. She has already been an outstanding resource for our Brokers, and I’m highly confident she will continue providing our clients with the highest level of service.”
Bethany returned home to Western North Carolina in 2001 and, after a rewarding 12-year career in international student exchange, became a full-time real estate Broker in 2009. She has been named both a DixonPacifica top producer and an Asheville Top 100 Broker. She carries several industry designations: Accredited Buyer’s Representative, Seniors Real Estate Specialist and Strategic Pricing Specialist. On top of her Broker-in-Charge duties she will lead recruiting efforts. “We are committed to hiring top quality Brokers, and Bethany will continue seeking out the best of the best,” said Dixon.
“I’m excited to help the company grow and excited about the challenge of finding the right Brokers for our office,” Behrmann said. “I like thinking outside the box on how we can serve and support Brokers’ needs. We have amazing marketing materials, support systems and people in our company – I can’t wait to share this with Brokers looking to make a change.”
Bethany is an active volunteer with Manna Food Bank, the Estes Elementary PTA, and Fellowship Asheville. She lives in South Asheville with her husband, Jens, daughter, Laura, and two dogs, Riley and Tillie, and enjoys international travel, hiking, home staging, and exploring area restaurants in her spare time.
We’ve analyzed the data for September and have compiled the real estate market stats and trends we’re seeing in Asheville and Buncombe County. Perhaps most interesting to us this month was the year over year drop in home supply across all price brackets for single family homes.
Asheville City Market Report
Buncombe County Market Report
For a more specific picture of what’s going on in your neighborhood, price range, or in a different part of WNC, contact us or give us a call at (828) 232-4030. Our agents are knowledgable and eager to help!
Our August market reports for Asheville City and Buncombe County are in! Read on for insights into how the market performed last month and how it’s affecting the behavior of people buying and selling in WNC.
Asheville City Market Report
Buncombe County Market Report
More questions about the market and what these numbers mean for your real estate goals? Contact one of our agents or call the office and let’s chat. We’re happy to dive deeper into these numbers or provide you with data specific to your neighborhood or area.
DixonPacifica Real Estate is excited to welcome Jen Woodward to the team!
Jen moved to Asheville from Charlotte in 2011. After the birth of her daughter, she changed her focus from corporate relocations to the local market. She has a strong background in real estate investment, property management, renovations and new construction, and with her careful attention to detail, she minimizes the stress of any move.
You can reach her at firstname.lastname@example.org and read more about her here.
Think back to January 2013. Bruno Mars “Locked out of Heaven” was top of the charts. The economy was starting to recover, and DixonPacifica opened its doors to residents and aspiring-to-be-residents of Asheville, North Carolina. What started as two locals talking big dreams over a cup of coffee has since grown into a multi-million dollar real estate company. In January 2013, DixonPacifica was born.
Much has happened since then: Asheville’s population has grown about 4% (That’s 14,000 new residents!), 16 breweries have opened in the Asheville area, and our downtown office has overlooked 47 Friday night drum circles in Pritchard Park. We have made a point to put down sturdy roots and invest in the Asheville area. Our brokers are on boards and committees for the Boys & Girls Club, United Way, school PTO’s and the Buncombe County Sports Commission, and because of our brokers’ success, DixonPacifica is able to contribute to local charities including Manna Food Bank, Brother Wolf, Boys & Girls Club, Buncombe County Schools Foundation and United Way. In support of fellow small businesses, we’ve had fun taking clients and friends to Asheville Tourist games, LaZoom tours, the Holiday Parade, Downtown after 5 socials, wine tastings and bike events. We deeply value the relationships we’ve built with clients, agents and the community over this time and appreciate the confidence you have shown to us.
We know our team of brokers is truly the reason we’ve been successful beyond our expectations. We are honored to work with such hard-working and trustworthy professionals. They constantly strive to offer the highest quality advice and representation to our clients, and we are thankful for everything they do. Since opening, we are proud to have been able to hire nine brokers with a combined 74 years of real estate experience, and they’ve certainly proven their skill with more than $55 million in sales and over 130 homes sold in Western North Carolina and Upstate South Carolina.
One thing that’s been confirmed to us since DixonPacifica started is that real estate is constantly changing. We seek out and embrace new technology and are one of the most agile real estate companies in the area. If there is a program or strategy which improves the service we provide we are quick to implement it, which is why we’re the only paperless real estate office in WNC.
Looking forward we want to continuing growing our company while maintaining our high standards. Our brokers are carefully chosen for their communication and negotiation skills, pro-active nature, ability to fully understand a client’s needs and be trusted advisors. Our agents make DixonPacifica what it is, and we are proud of them. It’s been an amazing three years and we look forward to many more.
Bethany Behrmann will be holding a broker open house today at 120 Christa Lane in Arden, NC. This home features:
– 4 Bedrooms 3.5 bathrooms
– 5300 Square feet
– MLS 575644
Beautiful two story home with walkout lower level and mountain views in Powder Creek Estates. Hardwood floors, granite counters, glass back splash are just a few notable features. Private, wooded setting with two large decks for entertaining or taking in the views. Custom closet systems, generator and tons of storage. Like new condition and move-in ready.
Holly is an #Asheville native and for 17 years she found immense joy teaching, coaching and mentoring high school students. She played field hockey for four years at Davidson College and continues to coach at Carolina Day. Her husband, Mark, is a local real estate attorney and a great resource for her clients. As you can imagine real estate is a constant topic of conversation in her home, and she strives to stay current on the latest legal, marketing and sales trends. Holly is ready to help you with all of your real estate needs. You can reach her at email@example.com.
The U.S. had the best economic year in 2014 since the recession in 2008-2009 and 2015 looks even better. With an accelerating economy and job growth here in Asheville and across the nation we have a great feeling about 2015.
Data taken from Realtor.com Chief Economist Jonathan Smoke @ Realtor.org. The Asheville Area Chamber of Commerce & The N.C. Mountain MLS.
Millennial Buyers Hit The Market: The millennial generation is beginning its ascent. Yes, they have faced huge challenges in the job market, but employment is improving, and older millennials are planning ahead. According to the National Association of Realtors about 65% of first-time home buyers are part of this older millennial group (ages 25-34), these young adults are at an age when many marry and start families. Of the millennials who are buying a home, 86% indicate that their motivation is a change in family size. More than two-thirds of household growth in the next five years is expected to come from millennials, according to Realtor.com Chief Economist Jonathan Smoke. This generation is bigger than the baby boomer generation, so even though its youngest members will be only 15 in 2015, the market is only beginning to feel its impact. Full article @ Realtor.org.
Home Prices will slowly start to appreciate in the greater Asheville area: Home prices in the city of Asheville have increased nearly 5% from 2.3% in 2013 and pace of home sales has increased 4.6% over last year. According to our Chamber, Asheville area job growth is outperforming the nation and most of NC. Our unemployment rate is 4.9%, down over 1.6% from last year. We will likely see improving sales pace and more appreciation in Buncombe County and across WNC depending on neighborhood, condition of house and other factors. According to our MLS the sales trend is pointing upwards and we are looking forward to a strong 2015.
Credit problems/New Changes May Make Getting a Mortgage Easier: If you have had past credit problems or can’t save up enough to cover a large down payment, Fannie Mae and Freddie Mac may have just cut you a break when it comes to getting a mortgage. Stricter credit score limits, large down payments and even heavy paperwork requirements have kept many would-be borrowers from buying a home in recent years, but new rules put in place by the government-sponsored enterprises may change that. Realtor.com/blog.
Mortgage Rates Will Head Back Up Later in the Year: The flip side of the improving economy is that mortgage rates will head up again. We’ve had a great run, but the honeymoon is over, and it’s time to settle in for a relationship that balances job growth with higher-but-still-reasonable interest rates. The Federal Reserve has indicated it will increase the federal funds rate—which has an indirect but significant effect on mortgage rates—next year. The rate has remained near zero since December 2008. Although the Fed might wait as late as early 2016, realtor.com® Chief Economist Jonathan Smoke suggested the increase will come in mid-2015, and mortgage rates will increase ahead of the Fed’s move. “Our forecast for housing assumes the 30-year fixed rate will reach 5% by the end of 2015,” Smoke said. “The one-year adjustable rate will likely rise less if much at all, and accordingly, we are likely to see a shift into more adjustable and hybrid mortgages over fixed.”
We Will Close Out the Foreclosure Crisis: It’s been seven years since the housing bubble burst and foreclosures skyrocketed, but in 2015 we’ll see the end of that era. Already this year has seen a major decrease in foreclosures and short sales.
“We are on pace for foreclosure inventories to end 2014 down more than 30%, and next year should see a slightly greater decrease as foreclosures fall to normal levels,” Smoke said. Full article @ Realtor.org.
Builders Will Break New Ground in Asheville & Nationwide: Although total housing starts (construction on new housing units) barely broke 1 million in 2014 and was driven by multifamily homes, Smoke noted the pace will pick up in 2015 and shift in focus.
“We are forecasting 16% growth in starts, driven now more by growth in single-family starts, which we are expecting to grow 21%,” he said. In Asheville, we had a 5.3% decrease in number of residential building permits over 2013 (1061 vs. 1120 in ’13), we expect to see more housing starts in 2015, as there is a great need for new construction & solid inventory in and around Asheville and Buncombe County.
All material present herein is intended for information purposes only. While this information is believe to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. Equal Housing Opportunity.