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