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Does anyone have the latest stats for average days on market for Asheville homes? Just curious to see how things are shaping up.
Thanks in advance.
I have personally seen the same house go on, off, and on again in several instances. Others I see that have been listed 560 days. There are new ones coming on every day, but only 2 or 3 - not many.
Go to Google, search for Asheville, choose the map, at the top of the map, under "More" is a box to check for Real Estate. Look at the HUNDREDS of houses for sale - and Google isn't that up to date (a day or two behind the curve).
For the entire Asheville market area it is running 172 days. These are from a local realtors website that I can't post here. Sorry about the formatting but the column headings listed down correspond to the columns across. If you want access to the actual webstie PM me and I'll give it to you--Larry
Asheville Real Estate Market
Month
Units Sold
Average List Price
Average Sale Price
% Diff
Avg Days on Market
Month End Inventory
Months Inventory
2006 AVG DOM was 90
2007 AVG DOM was 103
2008 AVG DOM was 125
2009 AVG DOM was 147
Currently in 2010 it is 171.... OUCH!!!!
Over this same time frame the avg sales price has gone from $285,000 to $248,000.
However, on the bright side, our number of listings is starting to decline and supply and demand, at least in the lower price points, is tarting to equal out a little more.
Declining listings could mean people are giving up - not good. Declining listings mean fewer choices for buyers like me - not good.
The Fed efforts to keep mortgage rates down ends March 31. Rates will start to rise, putting more downward pressure on prices. Foreclosures are still increasing. The economy is fragile, propped up by the billions the government poured in - and which cannot continue indefinitely. The $8K or $6.5K tax break ends April 30. That will put more pressure on housing as incentive to buy will drop.
That 171 days may look pretty good by next year at this time...
For the entire Asheville market area it is running 172 days. These are from a local realtors website that I can't post here. Sorry about the formatting but the column headings listed down correspond to the columns across. If you want access to the actual webstie PM me and I'll give it to you--Larry
Asheville Real Estate Market
Month
Units Sold
Average List Price
Average Sale Price
% Diff
Avg Days on Market
Month End Inventory
Months Inventory
2006 AVG DOM was 90
2007 AVG DOM was 103
2008 AVG DOM was 125
2009 AVG DOM was 147
Currently in 2010 it is 171.... OUCH!!!!
Over this same time frame the avg sales price has gone from $285,000 to $248,000.
However, on the bright side, our number of listings is starting to decline and supply and demand, at least in the lower price points, is tarting to equal out a little more.
It will pick up up there in AVL. I dont think it's going to get any worse than now (171 dom). People still want to live in Asheville, and when the market picks up and people can move, many will keep on choosing the AVL area.
It will pick up up there in AVL. I dont think it's going to get any worse than now (171 dom). People still want to live in Asheville, and when the market picks up and people can move, many will keep on choosing the AVL area.
Hope you are right; I have been grumpy and pessimistic today and may have hurt some feelings here. My bad. Y'all are GREAT people here and I appreciate every comment and suggestion.
GF,
No real estate maven, but comparing an offer on land vs. the "asking price" and offers on house(s), are really different elements, imo.
Not suggesting that most houses for sale don't come with an inflated asking price, but the quantity of homes for sale in western NC, and
differences in house styles, areas, etc., is enormous; thus, it seems somewhat general to peg any "offer" vs "ask", without any of us knowing
the house, area, specifics, etc.
And, most of the responses any of us can give are anecdotal and not relevant to "your house". Fwiw, we sold a new spec house a year ago for
$1.52 Mil in Waynesville, which we had just jacked up to "$1.6", in hopes we could get ~$1 Mil and cover our costs. It sold to the first tire kicker, and we did ****.
My point is none of us can really know your house(s) you are serious about, or your situ.
My only comment on the "tax break" is I doubt I would rush to get it done, simply for that tax consideration; it's a house, and may become your home and,
not a new car purchase to grab the clunker rebate.
As for the "landslide" issue in another thread, from your description of the GIS info, I would not give it a lot of hand wringing, if that was the house you are
really considering. But, again, without the specifics or walking the land, it is difficult for any of us to know. Imo, the few serious slides in western NC, in the
past decade, are of consequence obviously, but I live on a mtn side ridge and haven't had a concern in 9 years. We did have a geotechnical engineer do a
good study before we built and, we have done fine through Ivan/Frances, last summer's
deluges, etc. All, fwiw...And, I wish you well.
GL, mD
Last edited by motordavid; 03-30-2010 at 02:16 PM..
Reason: Probably posted in wrong thread, lol!
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My bad. Y'all are GREAT people here and I appreciate every comment and suggestion.
