Market Report for January 2017

January saw predictably steady market growth with a slight increase in average list to sales price as well as a slight decrease in months of inventory. However, there was a significant uptick this month in change in average price. This reflects the greater volume of homes sold in a higher price bracket than in previous months more so than individual home prices drastically increasing. We believe the trend of greater sales in higher price brackets will continue this year as more people move into the Asheville-Buncombe market from other markets.

Asheville City Market Report

Market January Asheville2

Buncombe County Market Report

Market January Buncombe

Our agents would be glad to give you more information about our market as a whole or your individual neighborhood or area of interest. Send an email or give as a call at (828) 232-4030 and we’re happy to give you more insight into current trends.

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Market Report for December 2016

The market trends we saw in December strongly reflect the larger market trends for our area. While there were fewer new listings and closed sales overall, the sharp increase in median sales price in Buncombe County as well as the significant decrease in month supply of homes in Asheville and Buncombe County indicates that the market is “hot.” Fewer days on the market until sale and fewer days between list and close compared to last December further support this conclusion. Check out the data below for a more targeted look at our local markets.

Asheville City Market Report

Market December 2016 Asheville

Buncombe County Market Report

Market December 2016 Buncombe

If you’d like additional data about our market in general or even a specific neighborhood in the area, we’re happy to help. Send one of our agents a message or give us a call at (828) 232-4030. Happy New Year!

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Market Report for November 2016

November is typically the slowest month of the year in the real estate industry. Clients find it challenging to make time for house hunting and keeping the home they’re selling pristine for showings during the holiday season. Because there are fewer sellers in the market, the months supply of homes is at the lowest it’s been this quarter, which means those sellers who do decide to list homes in November have less competition. We also saw that without as much inventory to choose from, the average days on the market ticked back down. That said, buyers don’t have it so bad either: the average sales price and the YOY change in average sales price is the lowest this quarter.

Asheville City Market Report

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Buncombe County Market Report

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For more information on the Asheville real estate market, you can check out the reports for October, September, and August or give us a call at (828) 232-4030. We’re happy to go in depth about the trends we’re seeing generally or more specifically in your area of interest.

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Market Report for October 2016

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

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Buncombe County Market Report

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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.

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Market Report for September 2016

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

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Buncombe County Market Report

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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!

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DixonPacifica Celebrates Three Years

This photo shows the DixonPacifica team of brokers together in downtown Asheville. Above them is a banner that says "celebrating three great years." Below them is the DixonPacifica logo.

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.

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Arden Broker Open House Today

120 Christa

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
– $625,000.00

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.

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DixonPacifica Real Estate Is Excited To Welcome Holly Martin!

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 holly@dixonpacifica.comHolly3528_215x170.

http://www.dixonpacifica.com/agents/holly-martin

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6 Housing Market Predictions for Asheville in 2015

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.

  1. 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.
  1. 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.
  2. 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.
  3. 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.”
  1. 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.
  2. 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.

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Happy Holidays

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Happy Holidays from all of us at DixonPacifica Real Estate.
Wishing all of you a joyous Holiday Season and a healthy & prosperous New Year!

 

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