By Julie McKinney

As reported in the May/June Breeze edition, the housing market in the Gorge was off to a promising start for this year, and the statistics for Single Family Homes from NC Mountains MLS show we’re ahead of last year looking at January 1 through June 30. In the first half of the year, the number of homes sold was up over last year as were price-related averages.

Homes Sold Average $/sq.ft. Average Days on Market Average List Price Average Sale Price High Sale Price Low Sale Price Median Sale Price
2016 75 $155.72 204 $268,762 $250,659 $1,095,000 $30,011 $201,685
2017 92 $162,18 229 $313,978 $291,757 $2,050,000 $50,000 $230,000
Change +23% +4% +12% +17% +16% 187.2% 166% +14%
  Homes for Sale Average $/sq. ft. Average Days on Market Average List Price   High List Price Low List Price Median List Price
As of 7/10/2017 148 $206.23 237 $518,512 $2,300,000 $94,900 $375,000

 

Breaking down the number of sales by price range should provide a better understanding of the averages above. Doing the same for listings currently on the market and those under contract is intended to make more sense of the current market.

January 1 – June 30, 2017 Total < $200K $200K – $299K $300K – $399K $400K – $599K $600K – $799K $800K – $999K > $1M
Homes Sold 92 35 25 20 5 5 1 1
% of sales 38% 27% 22% 5% 5% 1% 1%
 
Active Listings as of 7/10/2017 148 17 39 23 29 16 9 15
Under Contract as of 7/10/2017 36 11 10 8 4 3 0 0

 

While sales are strongest in the under $400,000 price ranges, sellers with home values greater than that shouldn’t get discouraged. It’s an opportunity to make sure that your home looks as good or better than your competitors because there are fewer buyers looking at those homes, and one that is updated and in pristine condition is more likely to be the one a savvy buyer will select. Basic updates/upgrades, fresh paint, tidy landscaping and well-arranged furniture all make a difference. Having a lake and/or mountain view or being waterfront is a bonus!

 

Julie McKinney is a broker with Lake Lure Professionals Realty Group – Keller Williams® and can be reached at 828-289-6794 or Julie@LakeLureLife.com