In western North Carolina, the typical “buying season” starts sometime around March, peaks in the summer and fall, and begins winding down after Thanksgiving. If you have been considering buying real estate in this area, you may find the winter months a better time of year to be looking. This is especially true if you are looking for land. During the fall and winter months, it’s cooler and the leaves are down making it much easier to see the surroundings and the lay of the land. Plus, with few buyers on the scene, it may make it easier to bargain with sellers.
But whether you are looking for a year-round home, a vacation home, or land where you can build your own dream house, it’s important to stay up to date on the market conditions. It’s true what “they” say about real estate – it’s regional. What is happening in Michigan or California is not necessarily true in other parts of the country. Here in the area around Brevard, North Carolina, the average home is under $300,000 and homes still sell for somewhere around 90-92% of the listing price. Land sales have fallen significantly over the last few years and the average price has dropped accordingly.
Each month we provide a market update and here’s where things stood in November. In November, there were 21 residential closings in Transylvania County compared to 27 closings in October. The average listing price for the month was $594,283 and the average selling price was $539,929, or roughly 91% of asking. Overall, those numbers are significantly higher than October because of the number of homes in the $500+ range that closed this month. There were six properties closed at over $500K and of those, 4 were well over $1M.
For more information about homes and land for sale in Brevard, North Carolina and the surrounding communities of Lake Toxaway, Hendersonville, Pisgah Forest, and others, visit the Clay Team online or call us at 828-551-6291 or 828-551-6290.