October Market Update

Everyone has their favorite season. For us, that season is fall.  Usually towards the end of August I start thinking about the fall colors, the cooler temperatures, and the corduroy pants that are waiting to come out of storage.  By September, I’m mentally willing fall to get here and relieve us of the last signs of summer. I’m happy to say that fall is officially here.  There have been mornings when a sweater was called for and some nights where an extra blanket was needed. Pumpkins, mums, and corn husks are everywhere and just the other day I caught a whiff of the first wood smoke of the season coming from a neighbor’s fireplace. The big show, the changing leaves that people come to see, has started and for the next month or so, the colors throughout western North Carolina will be at their best.  Reports vary, but the middle of October is expected to be the peak. It’s been our experience, though, that weather permitting, we will enjoy the colors through Thanksgiving.

In terms of real estate, the year is winding down, but it’s far from over.  In fact, for anyone who is thinking about buying land, fall is the ideal time of year to look. As the leaves are falling, it makes it easier to see the topography of the land and what’s around it. Plus, the cooler temperatures makes hiking around more fun than during the warmer months.  The land market is coming back slowly but it hasn’t seen the recovery that home sales has. That means land prices will continue to be accessible for just about any budget.

Here is a look at home and land sales for the month of September in Transylvania County. You’ll notice that home sales have had a nice increase, even in the higher brackets. Research is showing that home sales will continue to do well. In fact, just this week, I found myself in a “bidding war” on a home that was priced higher than the comps and had only been on the market 22 days.

If you have any questions about this report feel free to give us a call at 828-551-6290 or drop by our website at BrevardNCProperty.com for a closer look at specific properties.

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How is the Transylvania Residential market doing? 
Total Residential Properties Sold in September 2014 –  48 Total Residential Properties Sold in September 2013  – 37
Total sales year to date 2014 – 361
Total sales year to date 2013 – 317
Prices
Sept. 2014 Sept. 2013 # Currently on the market
$0 – $150,000
17 11 118
$150,001 -$250,000
11 10 200
$250,001 – $350,000
5 6 154
$350,001 – $450,000
6 5 88
$450,001 – $600,000
7 3 83
$600,001 – $1M
1 1 90
$1M +
1 1 67
 
How is the Transylvania Land market doing? 
Total Residential Properties Sold in September 2014 –  10 Total Residential Properties Sold in September 2013  – 13
Total sales year to date 2014 – 80
Total sales year to date 2013 – 71
Prices
Sept. 2014 Sept. 2013 # Currently on the market
$0 – $25,000
2 5 164
$25,001 -$50,000
2 3 180
$50,001 – $75,000
0 1 116
$75,001 – $100,000
1 1 108
$100,001 – $250,000
3 1 195
$250,001 – $500,000 1 2 84
$500,001 – $1M
1 0 25
$1M +
0 0 21
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