Locally, in Buncombe County, The average price of a home was $73k more than it was this time last October at $624,000. Purchase prices are holding pretty steady too. On average, properties sold for 97% of their list price at the time the offer was made.
The average price of a home in Haywood County was up 34% over last year at $479,000. Catch that? Up 34%.
In Henderson County the average sales price for October was $525,000. On average, properties sold for 98% of their list price at the time the offer was made, and 96% of the price they originally listed for.
That’s where we’ve been, now where are we going?
Economists, working for the National Association of Realtors® think the market will plateau this year, with the possible exception of the Southeast. Migration from colder climates and crowded cities is still bringing new faces to Western North Carolina and the entire region. It’s another great year of opportunity for sellers. Get your home on the market. Get it sold.
For Buyers, like we said, it’s competitive. But, for many it’s worth the effort. Many first-time buyers are finding rents continuing to climb and are choosing to get into a home or condo to put their monthly money to work for them. Several lenders have first-time buyers programs that offer lower down payment and interest terms. Though, it’s a tough market, there’s help in the process and that brings hope to folks who want a new address, one they own, one they’ve been dreaming of.
Want to dig into the reports? Just let us know. We have the full county-by county stats for Buncombe, Henderson, and Haywood as close as your keyboard. Go here and ask for your copy of this month’s report and to let us know what you’re dreaming about today. We’ll help.