Greybeard Realty

Western NC 3rd Quarter Real Estate Numbers

Third quarter numbers of western NC real estate are in, and the market seems to be holding fairly steady to its latest upward trend. While growth in some areas is small, there are a few particular statistics that may be very telling about the market to come. NC Mountain Home View

Buncombe County

The number of units sold countywide is up a solid 4% from 3073 for this period in 2015 compared to 3192 for the same period this year. Total sales volume for this period is up 16% from 854.8 million in 2015 to $988.8 million this year. As those increases indicate, there has been an increase in average price of 11%, from $278,156 in 2015 to $309,764 this year. As has been discussed in the most recent market reports, this increase in price was expected due to a shrinking market and an increase in demand.

And that leads to the most interesting statistics in this data, the days on the market (DOM) and the sales price/list price percentage. In the county, the number of DOM has shrunk from 124 days in 2015 to a mere 72 days in 2016, year to date, and sales price is 98% of asking price for 2016. That means that homes are not staying on the market very long, and buyers are not getting much negotiating room at this time.

Black Mountain

The Black Mountain real estate sales market is a little different. There’s only a slight change in the number of units sold, 164 in 2015 down to 162 in 2016, a 1% decreased. Similarly, sales volume is down a small 2% from $42.3 million to $41.6 million in 2016. As that indicates, there has been a negligible change in the average price from last year. It’s important to note, however, that this statistic also may be indicative of the small supply that is available in Black Mountain right now. Anecdotally, there are interested buyers who have not been able to find a home because of the small number of homes available for sale at this time.

Interestingly, there has been a similar decline in DOM for Black Mountain, down from 141 days in 2015 to only 79 days in 2016. And again at the same time, the SP/LP percentage has increased, from 95% of asking price to 98% of asking price. And the number of units on the market has increased 15% to 129 from 112 in 2015. In this instance, there were 38 units, or 29% of the homes listed as on the market, under contract at the time the numbers were extracted for analysis. If that number is extracted from the number of units listed on the market, then the supply may actually be a bit tighter than last year at this time.


So what can be garnered from these third quarter numbers? First of all, it’s important to recognize that the Black Mountain market is smaller, making some of the numbers seem more dramatic than they are. It seems apparent that buyers are out there looking, as the DOM has decreased so dramatically across the board. Also, it seems as if perhaps sellers have decided that they can get a good price for their homes and perhaps people who were holding off on selling have now moved forward.

In the months to come, it will be fascinating to watch what interest rates do, with a rumored increase in late 2016 anticipated. While that shouldn’t have any immediate impact on buyers or sellers, it may be what’s pushing both buyers and sellers forward in this positive real estate market right now. As usual, time will tell.

And in the meantime, Greybeard Realty is ready to show you the home of your dreams. Whether you're considering a NC mountain home or the ideal Asheville log cabin for your own escape, it's a great time to own your own place in western NC. Come on up and settle into your own peaceful mountain place.


Epic Views From a Black Mountain Log Home

If epic views from an immaculate Black Mountain log home appeal to you as a homeowner, you’ll want to take a look at 36 Winding Poplar, a 3-bedroom, 4 bath home located in the gated community of Laurel Ridge. Views and Quiet in Black Mountain

This 4,269 sq ft home is located just minutes from Black Mountain and Asheville and offers remarkable vistas from its two separate decks. The open floor plan features cathedral ceilings and two stone fireplaces, one located on the porch deck. In addition to its granite countertops in the kitchen and wood floors throughout, this luxurious log home also has a private game room and basement wine cellar. The meticulously constructed interior complements the outdoor living spaces, including the decks which feature natural, rustic railings. With its log construction and its convenient location, this lovely home makes an appealing full-time home or vacation home.

As mentioned in previous blogs, requests for log home rentals tops the list of Greybeard Rentals’ requests for rental homes. If you’d like information about owning a rental property and what that entails, please contact Greybeard Rentals or take a look at Greybeard’s property management webpage. Take some time to look through Greybeard’s residential listings and the Black Mountain Log Homes page. Then, come on up here and take a look at this beautifully crafted mountain home. It truly epitomizes the mountain home so any folks are looking to own

Black Mountain Log Cabin in the Woods Anyone?

For some, residing in western NC is synonymous with living in a log cabin in the woods. If you are one of those people, you’ll want to look into 29 Woodhaven Lane. This 3-bedroom, 2-bath log home fits the bill perfectly.

Located in the gated community of Laurel Ridge, this charming Black Mountain home has a great room with vaulted ceilings and a large stone fireplace. The lofted master suite has exposed beams and a bathroom with a claw-foot tub. With a 1.56 acre wooded lot, there’s room to explore and ramble. Additionally, this home would make a fantastic vacation rental as one of our most popular rental requests is for a secluded log cabin in the woods! Despite its secluded feeling, this lovely home is only minutes from downtown Black Mountain. For owners who like a peaceful locale without losing access to amenities, this home is a great choice.

Greybeard Realty has a number of vacation homes for sale that can be solid investment properties. In addition, Greybeard Rentals has an award-winning rental management team to ensure that our rental properties are well maintained and well marketed. To get a better understanding about our management philosophy, take a moment to watch the video on the property management webpage.

Black Mountain Cottage with Modern Charm

Several Greybeard staff and Realtors call Black Mountain home, and we can’t think of a better place to live. This new 3-bedroom, 3-bath home, 25 Lake Ave, is within walking distance of downtown Black Mountain, meaning new owners are just steps away from everything this fine town has to offer.

Constructed in 2013, this lovely home features an open floor plan with vaulted ceilings. It also has a large covered front porch to sit and watch the world go by. That’s only appropriate as Black Mountain is viewed as the “Front Porch of Western NC.” With cork floors, granite counter tops and stainless-steel kitchen appliances, this carefully-crafted home offers modern amenities with old-style charm. The interior and exterior woodwork as well as the large stone fireplace work to give this home a great cottage feel. And the fenced-in backyard makes a wonderful area for children or grandchildren to enjoy. It’s only a mile from the Montreat gate which means new owners will be in proximity to the Montreat trails, some of the finest hiking in western NC.

For more information about this home, please contact Greybeard Realty. And feel free to browse through Greybeard Realty’s other Black Mountain home listings as well. Those of us that live in Black Mountain are always happy to talk about the quality of life we’re afforded here. With good schools, great outdoor activities, and unlimited cultural and dining options, there really isn’t a better place to call home.

Gather up the Family and Enjoy Old Fort's Round Knob Lodge

Round Knob Lodge, recently listed for sale by Greybeard Realty, has history, charm and remarkable amenities available on site. With two stocked ponds, a stream with a waterfall, and 29.4 acres to explore, new owners will think they’ve bought a piece of paradise, not just a home.

Built in the mid-20th century by a group of railroad buffs this mountain getaway has 6 bedrooms and 5.5 baths which enables the owners to host a large number of people comfortably.  In the past, this home has served as a rental house and a special events site for weddings and family reunions. While it has the rustic feel of a mountain retreat, it has undergone expansive remodeling so it includes the expected modern conveniences, including a large, up-to-date kitchen. In addition to the Great Room which can accommodate up to 25 people, there’s a Game Room, accessible via a spiral staircase, that has a pool table, foosball, dart board and a bar with an ice maker. With close to 6,000 sq ft, this fine mountain retreat is a short 15 drive from Black Mountain though with its amenities the new owners may prefer to just hunker down and enjoy their peace.

For more information about this distinguished home, please contact Greybeard Realty  to schedule a time to see it for yourself.  And if this home is a bit larger than you need right now, please take a look at Greybeard’s other residential listings and see if something catches your eye.  And while you’re on the website, take a look at Greybeard's events calendar to see what’s happening. We’ve all chosen to live here because of our love for the area, and we’d be excited to have you join us up here.

Purchase Panoramic Privacy in this Black Mountain Vacation Home

Your western NC vacation time may have come to an end, but you can have your own Black Mountain vacation home, fully furnished, when you purchase 69 Kalmia Drive. This 3-bedroom, 3-bath home provides panoramic views within the private, gated community of Creston.

69 Kalmia Street ViewThis craftsman-style home, constructed in 2009, has an open concept floor plan with a large stone fireplace as a focal point. Located on a 2.45 acre flat lot, the house has a large deck and screened porch which enhances the opportunity to appreciate the natural beauty of the area. The home’s simple lines and numerous windows complement the flora and fauna as well. The street name of Kalmia is taken from the genus of the Carolina Mountain laurel that grows abundantly locally. The community of Creston features a gated entrance with waterfalls and trails, along with a mountaintop clubhouse. With the pristine condition of this home, which includes its furnishings, a new buyer can move in right away and begin to appreciate the amenities immediately.

This home is one of several Black Mountain homes with views Greybeard Realty has listed at present. If you want to learn more about the community, check out our Black Mountain information page. Greybeard also has a regularly updated community events page that can give you a sense of what’s happening locally. For more information about this home or any of our listings, please contact Greybeard Realty. This could be a very good time to buy the Black Mountain home you’ve always wanted.

Terrific Views From 207 Hanover Terrace in Montreat

Breathtaking mountain views await the new owners of this charming Montreat home. With six bedrooms and four baths, 207 Hanover Terrace offers a large, clean palette for creating the home of your dreams.

206 Hanover Terrace in MontreatThis three-level home features two stone fireplaces, one with a wood stove insert and the other with a wood-burning fireplace, as well as exterior stonework that gives it a mountain-home feel. The ground level has a kitchenette that could be expanded so that this lower level could be used as separate living quarters. While this home has clean, simple lines that lend itself to a new owner’s creative touches, what really catches everyone’s eyes is the stupendous view from the balconies. Extensive vistas capture the essence of western NC and offer a majestic perspective from Montreat.

If you’re new to Montreat, you might enjoy spending some extended time in one of Greybeard Rentals longterm rentals to get an idea of what it’s like to live here. Also, you might want to take a look at the other Montreat homes for sale now. As our market numbers indicate, now’s the time to make the mountain home purchase you’ve been considering. For more information about this home or any of our other listings, please contact Greybeard Realty. It’s time to get yourself your own picturesque mountain home with a view

The Tale of the Growing Western NC Real Estate Market

Mid-year home sales numbers in Black Mountain and the Asheville area for 2016 indicate that the upward movement continues with strong sales and a short supply. With several months of statistics on hand, it seems appropriate to begin talking about the growing trend in western NC real estate market.

Buncombe County

For the sixth consecutive year, the number of units sold year-to-date in the county increased. In 2016, the number of units sold in the first half of the year increased 5%, from 1,878 in 2015 to 1,977 this year. At the same time, total sales volume increased a strong 19% to just over $601 million. In contrast, the number of units on the market for the last six years has declined. From a high of 3,527 units for sale six years ago, the current number of units offered countywide is 1,954. This shrinking supply has impacted the average price per home as well with a 13% increase in 2016 year to date. In fact, the average home price now exceeds the $273,844 mark in 2008.

One interesting number that bears watching is the Days on Market (DOM). That number, which has not been below 100 days in the last 8 years and has been as high as 173 days in 2012, is at 75 days, year to date. That number is an indication of the short supply. Interested buyers are finding they have to choose quickly as the short supply means that someone else may put in a better offer if they hesitate.

Black Mountain

Black Mountain real estate market numbers, at first glance, appear to be down slightly. The number of units sold, 106 homes, is down 2% compared to 2015 numbers year to date. The average price also shows a decline of 2% for the same period, while sales volume has declined 4%. As noted, these numbers can be interpreted as a market decline.

A closer look at some additional statistics, however, indicate that these small declines are due in large part to the decline in supply. There just isn’t much on the market right now for people to choose from. The number of homes on the market, 105, is a 15 % decrease from the same time in 2015. And additionally, it’s interesting to note that while that figure of 105 units on the market seems to be adequate, it actually is misleading. At the time these numbers were compiled, 30% or 31 units were actually already under contract. The number of units on the market at mid-year 2016 is just over half of the supply that was available in 2009. This type of tight supply market can impact numbers as buyers are searching for just the right home in an area with a very limited supply.


There’s one other number in this report that has shown a dramatic decline as well, and that’s the day on market (DOM) statistic. The average Black Mountain home now stays on the market only 81 days, compared to 150 days at the same time period last year. In Buncombe County, there’s a similar pattern. DOM year to date 2016 is 75 there, down from 118 last year this time. What that indicates is that buyers have less time to consider their decision. Their dream home may not be there by the time they have looked at other options.

The takeaway for now in both Black Mountain and Buncombe County seems to be that supply continues to tighten. Over time, it is anticipated that prices will continue to increase and DOM will shorten as buyers find fewer homes to choose from.  So again, with the present market conditions, it’s a fabulous time to list your home if you’ve been thinking about doing that. And as a buyer, come prepared to take action when you find the home of your dreams. With this limited supply, homes just aren’t staying on the market for very long before they sell.

At Greybeard Realty, we track market numbers monthly so be sure to check out our real estate statistics webpage to see what the market is doing now. We also have a couple of helpful buyers’ webpages, the ABCs of home buying as well as the Home Buying Process. Please visit the Greybeard webpage to see our residential listings and feel free to contact us to go see anything that catches your eye.

GreyBeard's Montreat Parade of Homes Could Lead to Your Independence

With the holiday weekend approaching, GreyBeard Realty wanted to take time to wish everyone a very Happy Fourth of July. There’s always fantastic events going on for Independence Day, and this year is no different.

Greybeard's Montreat Parade of HomesCelebrations kick off a few days early with 50th annual Shindig on the Green on July 2. Bring an instrument to play or just bring yourself for this fabulous gathering of music producing and culture enjoying clan at Pack Square Park. Then, Pack Square Park has its annual fireworks display at 9:30 PM on Monday, the culmination of a day’s worth of activities including live music and food. Another option is the huge firework display after the Asheville Tourists’ game on Monday. If you’re interested in this be sure to purchase tickets ahead of time as they tend to sell out. Other 4th of July events include Chimney Rock Family Fun weekend and the annual Independence Day Fireworks hike with the Swannanoa Valley Museum, which requires advanced reservations.

Of course, GreyBeard welcomes you to our annual Montreat Parade of Homes on Sunday, July 3rd from 2-4 p.m. which features five Montreat homes for sale. To start the tour, simply go to one of the homes listed on the parade sheet, and you can pick up a map to the other homes. We will have representatives at each home to answer any pressing questions you might have. You may be able to make your own declaration of independence if you find your dream Montreat home.

A Look at Black Mountain Land Sales

Swannanoa land with mountain viewsReports for Asheville area land sales come across the desk periodically, but it isn’t often that they have numbers like the April report. While Asheville numbers increased 45% over the numbers year to date for last year, the Black Mountain land report for the same time period was even more astonishing.

Preface the following with the information that the number of units sold in the Asheville area (225 year to date) is substantially larger than that of Black Mountain units sold (29 for 2016 year to date). Even with that taken into account, however, the 383% increase in units sold so far in 2016 in Black Mountain is truly remarkable. As with the report for the Asheville area real estate market for the first quarter, which indicated the number of home units on the market was down, the supply for land also seems to be decreasing. With that in mind, it’s worth asking just what is driving the land sales at this time. One theory is that with the shrinking housing market, residential buyers are looking for land to build their own homes. And secondarily, it may be that people who wanted to build were waiting to be sure that the Asheville real estate market was again on a solid foundation.

Whatever it means, it bears watching over the next few months to see if this report represents a short uptick or a longer trend toward increasing land sales. To get an idea of what’s available in the area, please take a look at Greybeard’s Black Mountain land listings. If you would prefer a move-in-ready home, then glance through Greybeard Realty’s western NC residential listings. And for more information about land or home sales, please feel free to contact Greybeard Realty directly.