By Julie McKinney

Despite nature having caused rushing rivers, flooding and mudslides this spring, home sales have only suffered slightly, and only in terms of the number of homes sold in the first half of the year. Statistics for Single Family Homes from Carolina MLS show that year-to-date the average price/sq. ft. and average selling price have both increased while the number of days on market had a decrease. Good signs of what’s likely for the remainder of 2018. The lower number of homes sold is most likely attributed to weeks of stormy weather, with unusually high amounts of rain in Hickory Nut Gorge.

January 1 – June 30 Homes Sold Average $/sq. ft. Average Days on Market Average List Price Average Sale Price % List/Sell High Sale Price Low Sale Price Median Sale Price
2016 75 $156 204 $268,762 $250,659 .93 $1,095,000 $30,011 $201,685
2017 92 $162 229 $313,978 $291,757 .93 $2,050,000 $50,000 $230,000
2018 63 $182 160 $355,766 $337,515 .95 $965,000 $85,000 $290,000
                   
Current Activity Homes for Sale Average $/sq. ft. Average Days on Market Average List Price     High List Price Low List Price Median List Price
As of 7/8/2018 171 $252 259 $603,169     $4,600,000 $74,900 $450,000

 

Breaking down the number of sales by price range helps provide a better understanding of the averages above. Doing the same for currently active and under contract listings is intended to provide a snapshot of the current local real estate market.

January 1 – June 30, 2018 Total < $200K $200K – $299K $300K – $399K $400K – $599K $600K – $799K $800K – $999K > $1M
Homes Sold 63 13 20 12 11 6 1 0
% of sales   21% 32% 19% 17% 10% 1% 0%
                 
Active Listings as of 7/8/2018 171 12 43 22 40 20 10 24
Under Contract as of 7/8/2018 11 3 3 4 0 0 1 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 competition because there are fewer buyers looking at those homes. An updated home 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 Owner/Broker at Lifestyle Properties, Lake Lure, and can be reached at 828-289-6794 or Julie@LakeLureLifestyle.com