Brevard North Carolina Real Estate Blog: Brevard, NC Market Report - September 2008

Brevard, NC Market Report - September 2008

Cherry RidgeAVERAGE RESIDENTIAL CLOSING PRICE

September numbers are back down to reality. In August I reported that according to our MLS numbers, the average residential closing in Transylvania County was $536,148. However, since Lake Toxaway, a very high end community where homes routinely sell for millions of dollars, is part of our MLS, whenever a home sells in that community, it causes all sorts of spikes in our otherwise consistent data.

In September the average closing price was $217,152. A year ago, the average was $244,503.

 

Crestview

AVERAGE DAYS ON MARKET

The average days on market for homes closed during September was 132 days. In August that number was 266 days. However, just as sales in the Lake Toxaway area affect our selling prices, it also affects the days on market statistics because homes in that area are typically on the market longer.

In September 2007 the average was 164 days.

 

 

Sapphire Lakes

PERCENT OF LISTING PRICE

This particular group of numbers has been a wild ride this month. The selling price for homes in the $100-$300K price range remained stable selling at about 96% of the asking price.For the first time in a year, though, homes in the $300-$400K range sold for less than 95% of the asking price. Homes in the $400-$500K range were up, though, selling for around 96%. In the price range of $500K and up, homes are still selling for about 97% of the asking price. But that number is actually down from the same time last year when homes sold for almost the asking price.

 

 

 

Statistical data provided by the WNC Regional MLS

For more information about residential sales in Transylvania County, contact the Clay Team.

 

 

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Comment balloon 0 commentsCarol Clay • October 17 2008 03:32PM

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