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|
|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|
|% 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