Hot Reports for Home Buyers are available now! Foreclosures, Luxury for Less, Deals Under $200K, and Motivated Sellers. If you're ready to take advantage of low interest rates and great prices, don't wait!
In Hendersonville NC--1st Qtr 2010 the number of units sold spiked in March and there was only 4% decline in average home values, which establishes a decrease in the rate of depreciation and the promise of stabilization that we've been looking for. Check out our 3-Year Trend Data Reports to see a history of sales in Quarterly increments. This makes a 17% depreciation for Henderson County since 2007. We'll be looking forward to the next 2 Qtrs to be sure! Asheville NC--1st Qtr numbers revealed a 5% decline in home values with a total since 2007 of 15%.
We also track absorption rates monthly. Basically, an absorption rate is the amount of months of current real estate inventory a market has. That is calculated by dividing the amount of active properties by the number of solds per month. The result is the absorption rate, or the number of months it would take to sell the amount of homes currently available. A balanced market contains 6 months of inventory. Though foreclosures in North Carolina have been less than many places around the country, the combination of foreclosures and excessive inventory on the market are the biggest challenges we have. Henderson County has 16 months of inventory right now, and Buncombe County is holding with 15 months of inventory.
There's only about 33% of the homes currently available in our market priced at or below the recently sold home prices. This levels the absortion rate imbalance significantly! So, if you are a home owner in need of selling right now, you can take stock in knowing that pricing it right will yield a sale! Properties in good condition that are market priced are selling in less than 6 months.
If you are a buyer looking to benefit from the housing climate right now, don't hesitate to contact us for immediate broker consultation and assistance. You can log into our website, www.CarolinaConnectionsTeam.com, or e-mail: ccteam@live.com. Our phone contact is 1-800-882-5597. We would be honored to assist you with your real estate needs.
