Real Estate Market Report for 2017
What a great year for DixonPacifica Real Estate and the WNC housing market! Our market built upon a strong 2016 and we continued to see improvements in median sales price and price per square foot. We’ve rebounded well above pre-crash levels.
In Asheville, the median sales price rose to $290,000, a 7.4% improvement over 2016. In December the price per square foot for single-family homes pushed to $204, the first time it’s been over $200 all year. In several other categories the Asheville numbers are flat to slightly down due to limited inventory. Closed sales fell 2.3% and days on the market were down 1.8%.
In Buncombe county the median sales price increased to $275,000, a 8.6% improvement over 2016. In December the price per square foot for single-family homes climbed to $182. Like Asheville, the Buncombe numbers in other categories are slightly down. Closed sales fell 2.2% and days on the market were down 4.9%.
Our outlook for 2018 is that the number of sales will continue to slip which will push the price per square foot higher. Inventory availability is a challenge across the nation and we are not immune. There are new construction homes coming to the market across WNC, but we believe demand will outstrip supply, especially in the hot in-town neighborhoods. Over the last few years developers have been building on any in-fill lot available and usable land is becoming expensive. That said, we do see opportunities for buyers. If you are willing to remodel and update it’s possible to find quality homes in the most popular areas. And, lenders are becoming more aggressive on rehab loan products. Real estate is local, if you would like more information about a specific neighborhood we’re more than happy to help.
All of us at DixonPacifica would like to thank our clients, partners and other Brokers for helping us see amazing growth in our number of transactions and sales volume. We appreciate the trust you put into working with our outstanding group of Brokers, and look forward to many great things for all of us in 2018.
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
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 Celebrates Three Years
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.
13 Month Sales Trend For Our 6 County Region
July 8, 2013
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