April showers bring may flowers brings uptick in RE sales in Asheville

The weather is nice and the stats have definitely moved in the right direction. While certainly not as good as last year, Asheville did see the Absorption Rate have at about 17 months, down from 19 months in February. We also saw a rise in average home price as well as median price. We will need to see a trend in this to say for sure that home prices have hit bottom, so we will wait until the end of May to be sure. On the flip side the number of homes on the market continues to rise and we have now topped 8,000 residential properties in Western North Carolina. Two years ago we had 2600. What a difference. A lot of buyers in the market now and with a low amount of foreclosures, we should see a change in the Asheville and surrounding area market.