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Real Estate Market Update for Asheville Region Aug 2021

There have been numerous articles the month of Sept. with predictions that the real estate marketing will take a major slow down by mid next year. Almost all of them base this on two things:  continual housing supply shortage and continual increase of house prices. Fannie Mae states these factors will eventually cause buyers to stop trying to find homes.  With this in mind I wanted to see if our local trends were following the national stats.  At times our area has done better than the national realm because we are smaller and don't have track homes with similar styles and allowing easy price swings.  The current buyer trends is different for us because so many people are moving here at such a fast pace that it is a challenge for appraisers to keep up with market value.

Check out our YouTube update

 

 

For a complete overview of the Greater Asheville Region check out this PDF

Real Estate Market Update for Asheville Region July 2021

The real estate market follows trends. Typically, there is an upcycle where it is a seller’s market, due to low inventory, good interest rates and a strong economy. This is usually followed by a down turn, a buyer’s market, where inflation starts to climb, higher interest rates, and homes staying on the market for a long time.   While these trends are constant it is a challenge to predicate the next cycle.  One of the ways we do this is by following current real estate markets and recognizing patterns.  This year for 2021 I have decided to focus on month to month trends rather than year to date.  So much is happening in our world and so often that what was going on last year doesn’t seem to matter.  For your personal review I will continue to upload all the great pdfs that contain stats from our local MLS. The data is collected from the previous month so each month will be detailing the past month.  

If you are new to our blog, it is important to know that the ASHEVILLE REGION report includes Burke, Buncombe, Haywood, Henderson, Jackson, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania, Yancey counties. Comprised of single-family properties, townhomes and condominiums combined.

After watching the video update be sure to check out the most recent stats

Mary Love Chart

Asheville Region 

Asheville City

Hendersonville City

Morganton

Please subscribe to our blog or YouTube Channel for monthly real estate updates.

Let me know what you think.  Do you see the local market slowing down?  What do you think the fall will bring?

Real Estate Market Update for Asheville Region May 2021

The greater Asheville area is very hot. Due to lack of current homes on the market, the prices have continued to climb.  Buyers need to have proof of funds or pre approval letter available and make the highest and best offer the first time.  If sellers want to get top dollar then house needs to be in excellent condition.  Buyers want move in now and have it all updated.   

 

 

 

Real Estate Market Update for Asheville Region April 2021

The real estate market is very busy and I had to jump on this blog and videos very fast.  While reviewing the video I realized not all the PDFs were on the share screen. Please watch the video and pull up the PDFs if you wish to follow along.  

Just a Mamaw side note, if anyone would to volunteer to help me with videos, I could use the help.

Here is the link to the PDFS  use these to follow video if you wish. 

 

 

 

REAL ESTATE MARKET UPDATE REVIEWING MARCH 2021

I am running a little late for the March review (remember we get our stats from the previous month), I meant to post this April 30. I just have been to busy to get it all together.  Anyway---

March was a busy month for all of the Greater Asheville region. We are experience an extreme housing shortage so multiple offers are the norm.  If you  are planning on buying here, you must be pre approved with a lender or have proof of funds to show.  Houses are receiving multiple offers within the first 8 hours of listing. Many buyers are making offers with just virtual viewings. Be prepared to make your highest and best the first time.  Also be prepared to pay at least 1% of offer price for the due diligence fee. This holds true for all price range

The YouTube post goes into more detail about the month to month review.