Brevard North Carolina Real Estate Blog: Brevard Area Market Report -August

Brevard Area Market Report -August

RESIDENTIAL SALES SUMMARY - August 2008

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RESIDENTIAL SALES SUMMARY

When you start crunching real estate numbers in Transylvania County, which includes Brevard and a number of neighboring communities, you must take into consideration that Lake Toxaway, a community where most homes are in the millions of dollars, is part of Transylvania County. So when there are sales in Lake Toxaway, it will skew the data for the whole MLS board. This is the case in August and to a lesser extent, July. In August, the average residential sales price soared to $536,148 which represents more than an 110% increase over June and more than a 50% increase from July. But August, and even July is not a good representation of housing costs in the Brevard area.For the most part the average selling price in the Brevard area continues to be in the mid $200,000 price range. Still an affordable place to call home.

The evidence of how data can be skewed is clear. There were 27 closings in August and 7 were over $500,000 (and well into the millions), 9 were in the $300-$400K range and 8 were in the $100-$200K range. For the first time in a year, there were no residential closings under $100K.

Homes continued to sell for 95-96% of the asking price.

 

For more information about the real estate market in Brevard, NC, visit the Clay Team online, or call us at 828-551-6290 or 828-551-6291.

 

 

 

 

 

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Comment balloon 0 commentsCarol Clay • September 08 2008 04:11PM

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