Monday, October 23, 2023 / by Amy Brown
We are almost at a balanced market!!!!
According to Realtors Property Resource, a statistics program generated by our specific MLS, we are currently holding 5.03 months of inventory, up 17.52%. This is great news as the 6 month mark indicates a balance of buyers and sellers and equal footing in the marketplace for negotiations.
What is even better news for homeowners and investors is that property values are holding strong despite a balancing of the market. We are up 4.3% from fall of 2022 and are holding with a median value of $504,970.
And for new and upcoming listings, prices are still on the rise coming in at an average price of $572,500, up 9% from last month. The median price per square foot is at $357/sf, an increase of 5.9% from last month. And there are currently 354 new listings that have been added to the market in Buncombe county this month.
It's fall in the mountains and it's beautiful! People will always want to call the Asheville region their home. We have great weather, friendly people, and an eclectic culture that is fun and alive.
The metrics are looking excellent for all of you that have been waiting...but don't wait too long. This is not an area that will have a "crash" in market prices or a sudden drastic market change. Decade after decade this market has remained solid in increasing property values, high demand, and a quicker than average turnover. We are approaching the flatline allowing buyers and sellers alike equal opportunity. Don't wait out your chance to grab a home while there is some breathing room in the competition. Call me and let's talk about it!
Your mountain dream home is right at your fingertips!