2006 was, by any standard, a booming year for real estate here in the Brevard, NC area. Based on the first quarter sales this year, the market could meet or even surpass those 2006 figures.
Residential sales continue to be the strongest in the under $300,000 price range, but specifically, in the $150,000-$200,000 range. In this first quarter we have seen homes sell for asking the day the go on the market, multiple offers, and bidding wars that result in homes selling above asking. We have moved past the dark days of 2009 when our market bottomed out, so it’s exciting to see things moving from a buyers market to a sellers market.
What does this mean for buyers in that price range? Be ready! Be ready to go see a home the day it hits the market. Get pre-approved ahead of time. And be ready to pay closer to the asking price.
For sellers, it doesn’t mean you can relax and wait for buyers to come streaming through the door.