Brevard North Carolina Real Estate Blog

October 2014 Market Report - Brevard, NC

 

Looking Glass Rock, Pisgah Forest, NC

 

 

 

 

 

 

 



Fall is officially here in the mountains of western North Carolina.  The big show, the changing leaves, has begun and according to some reports, should peak sometime the middle of the month. We know from experience though that there can be, weather permitting, plenty of color all the way to Thanksgiving.

The end of summer lead to an active September, especially in home sales. In fact, for the first time in a while, we saw a good jump in the number of higher end home sales.  There is some research from around the area that speculates this will become a more common trend because the foreclosure inventory is so low and investors are moving on, leaving the door open to buyers.  For the last several years, the "sweet spot" for our market in the Brevard, NC area has been in the mid $200K range, but more and more I see things changing.  Just this week I found myself representing a buyer in a 3-way bidding war.  Multiple offers haven't been exactly common place the last few years. The house ultimately went under contract at a price that defied the comps. I'm also seeing more homes going to contract much sooner than they have been the last few years. It has been common place for homes, even good homes, to be on the market over 200 days but more and more, I'm seeing a reduction in that number.  

So what does all this mean? It means buyers need to know what they want and act quicker than in years past.  We work with a lot of out of town buyers so that presents a unique challenge.  

The other part of our market is land.  That segment of the market hasn't rebounded quite as quickly as homes. But for buyers who want to invest in a "bit of dirt" that they can build on, land prices are accessible for just about any budget.  

How is the Transylvania Residential market doing? 

Total Residential Properties Sold in September 2014 -  48
Total Residential Properties Sold in September 2013  - 37

Total sales year to date 2014 - 361
Total sales year to date 2013 - 317

Prices
Sept. 2014 Sept. 2013 # Currently on
 the market
$0 - $150,000
17 11 118
$150,001 -$250,000
11 10 200
$250,001 - $350,000
5 6 154
$350,001 - $450,000
6 5 88
$450,001 - $600,000
7 3 83
$600,001 - $1M
1 1 90
$1M +
1 1 67


 











 How is the Transylvania Land market doing? 
Total Residential Properties Sold in September 2014 -  10
Total Residential Properties Sold in September 2013  - 13

Total sales year to date 2014 - 80
Total sales year to date 2013 - 71

Prices
Sept. 2014 Sept. 2013 # Currently on
 the market
$0 - $25,000
2 5 164
$25,001 -$50,000
2 3 180
$50,001 - $75,000
0 1 116
$75,001 - $100,000
1 1 108
$100,001 - $250,000
3 1 195
$250,001 - $500,000 1 2 84
$500,001 - $1M
1 0 25
$1M +
0 0 21


 









 



If you would like a monthly report sent directly to you or if you'd like to receive regular property updates, visit us at BrevardNCProperty.com or call 828-551-6290.

 

 

 

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Comment balloon 0 commentsCarol Clay • October 08 2014 08:47AM
October 2014 Market Report - Brevard, NC
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