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Asheville Second Quarter Real Estate Report 2015

 

 

Asheville set a record this year, as of June 30, the median home price within the city was $235,000, beating the 2007 high of $229,000.

During 2015’s first quarter, a lot of (the lower-priced) houses were snatched up. Sellers have the ability to be more patient because they're more confident that they can make a profit, or at least recoup what they spent when they bought it.

Attempts to make as much money as possible also could be a contributing factor to the increase in inventory in the second quarter for homes priced at $500,000 and lower, Figura said.

Average days on the market within the city limits is another metric that shows the popularity of Asheville.

That figure dropped to 110 days, as of June 30 — the lowest it's been since 108 in 2008, he said. That number was 127 during the first quarter.

And the June 30 measure might be inflated due to a 2010 change in the way the North Carolina Real Estate Commission defined "on the market.”

Prior to the change, any home under contract was considered off the market, but after the change, the commission added the due-diligence period that occurs during the contract period, shifting everything up by 20 to 25 days. 

Asheville Real Estate Report Second Quarter

Notable numbers in Asheville and Buncombe County real estate

• $235,000: Median home sale price in city of Asheville this year as of June 30 — a record.

• $345,900: Median asking price of all homes, condos, townhouses and mobile homes this year as of June 30, in Asheville and Buncombe County — a record.

• 270: Number of homes on the market in the city of Asheville during second quarter.

• 222: Number of homes on the market in the city of Asheville during first quarter.

• 110: Average days on the market this year for homes in the city of Asheville — the lowest since that figure hit 108 in 2008.

• 127: Average days on the market for homes in the city of Asheville during first quarter.

• 417: Number of homes sold during June in Asheville and Buncombe County — the most since August 2006, when 418 sold.

• 280: Number of homes sold during May in Asheville and Buncombe County.

• 455: Number of homes sold during June 2006 in Asheville and Buncombe County — the one-month record.

• 8.7: Percentage of homes during June that sold at or above the asking price.

• 13.5: Percentage of homes during June 2014 that sold at or above the asking price.

• 6.5: Percentage of homes that sold at or above the asking price this year through June 30.

• 11.3: Percentage of homes that sold at or above the asking price in 2014.

• $200: Median price per square foot for "green" homes sold during the last 12 months — a record.

 

View Full Article in Asheville Citizen Times: 

http://www.citizen-times.com/story/money/business/2015/07/24/housing-market-sets-records/30613967/