As the weather gets better more deals are being made, but February followed the country trend. We now have over 20 months of inventory currently on the market. This means that sales cannot keep up with the number of houses listed. Average sales price continues to drop. March's contracts look better, but not significantly. What is selling? Homes that are priced right. If they are priced right in this market they sell within 7 days. After that, well, they become one of many. Some popular developments like Biltmore Lake have over 50 homes on the market from $399,000-599,000. Biltmore park has over 25 home on the market. These locations were the hot location a year ago. Now they are at the most difficult price point.
Buyers, where to they come from? Mostly they are investors or first time home buyers. The retiree market has temporarily halted due to retirees inability to sell their homes. When they do they buy quickly. We look for some improvement in March, but we will see.
Michael
www.kellerwilliamsasheville.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment