Real Estate Market Report – Third Quarter

Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although interested buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving.

New listings were down in the North Central Mountains region 13.9 percent to 1,066. Pending sales increased 6.3 percent to 922. Inventory shrank 15.6 percent to 5,040 units.

Prices moved higher as Median Sales Price was up 18.6 percent to $255,000. Days on Market held steady at 83. Months Supply of Inventory was down 17.3 percent to 6.2 months, indicating that demand increased relative to supply.

Last year at this time, the national storyline was about how high demand was propping up sales and prices despite low inventory and months of supply. That has actually continued to be a familiar refrain for many months in 2017 and now for the past couple of years. But with the likes of Hurricanes Harvey and Irma, different employment outlooks, disparate incomes, varying new construction expectations and potential housing policy shifts, regional differences are becoming more prevalent and pronounced.

If you found this data helpful and would like a more detailed look into a specific neighborhood or zip code, contact one of our agents or call the office at (828) 232-4030. We are happy to provide you the information you need to Move Smarter.

 

 

 

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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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Current Market Snapshot Asheville Area

By Mukunda Pacifici 10-24-12

 

Buncombe County:

Henderson County:

 

Haywood County:

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My Market Stats

In Western North Carolina we are around 5% above our long term norms. Mortgage payments have dropped 10% since 2004 and the average monthly mortgage payment for a median priced home is now $849 compared to $924 in 2004 making housing more affordable. We will continue to see distressed sales playing a role in keeping home prices down. The area also has inflated home inventory this which keep the “buyers” market in place through the year.
However, home sales are starting to pick up and hopefully, by the end of 2012 we will see the local housing market start to stabilize. This is the first time we have thought this since 2006!!

 

Market Snapshot as of 2/22/2012:

Median Sales Price:
Buncombe: $203,250
Henderson: $146,500
Haywood: $137,500
Madison: $100,000
Total home Supply:
2306; 2652 in ’10
% of Foreclosures:
20.20%
National Avg: 28%
State Avg: 30%
Buncombe County 2009-2011 Home Sales
Last 3 Yrs of Unit Sales

Here are the numbers for 2009-2011:
Home Sale NumbersMedian Sales price Buncombe:
Buncombe County Median Sales

Henderson County 2009-2011 Home Sales
Henderson County Closed Unit Sales

Here are the numbers for Henderson County 2009-2011:
Henderson County NumbersMedian Sales Price Henderson:
Henderson County Median Sales Price

Haywood County 2009-2011 Home Sales
Haywood County 09-11

Here are the numbers for Haywood County 2009-2011:
Haywood NumbersHaywood County Median Sales price:
Haywood Median Sales Price

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