Blog :: 10-2013

Magnificent Black Mountain

Black Mountain Merits Special Attention

Black Mountain Merits Special Attention

Western NC has many special towns to live in, but we feel a special affinity for Black Mountain, home to our Greybeard Realty office. Whether it's the large variety of available restaurants and shops or the quiet, small-town atmosphere so close to Asheville, Black Mountain is a very special place.

While we may seem biased as many of our Realtors live in Black Mountain, we recently received some comments from a rental guest that reminded us of the special qualities of the town. A guest, staying at Byrd's Nest Cabin through Greybeard Rentals, commented that they had fallen "in love with the town and its people!" They went on to add: "They were charming and friendly...seemed to love life. They were doing what they love to do. I haven't seen so many beautiful crafts in one place! I am anxious to have my family join us for a great summer vacation!"

A couple of our Realtors recently made a few observations pointing to the special attention and quality Black Mountain has. One day recently, the Black Mountain Chamber of Commerce had more than 120 hits on that day, indicating a very high level of interest in the town. And another Realtor recently noted that there can't be many towns with a population of 7,000 that has so many local breweries including Pisgah Brewing and Lookout Mountain Brewery

.If you are considering relocating to our area, we encourage you to check out Black Mountain. Check out Greybeard's webcam regularly and get an idea the weather and the activity level in the town. Select one of Greybeard Rentals' Black Mountain rentals and come try it out for a month or a weekend. Whether you see Black Mountain as the "front porch of Western NC" or the "Little Town that Rocks", we think you will find something special in this town we call home.

Real Estate Numbers Add up to Solid Growth in Asheville Area

The numbers are in for real estate sales for the 2013 third quarter, and the solid growth seen last quarter continues. In both Buncombe County and Black Mountain, positive numbers indicate a solid foundation for the real estate market as we move into the last quarter. With interest rates holding steady, we anticipate that the market will continue this upward trend into 2014.

New Black Mountain listing, 52 Cheshire Dr.

New Black Mountain listing, 52 Cheshire Dr.

Buncombe County/Asheville Area Home Sales

Buncombe County numbers indicate a 25% increase in homes sold year-to-date versus last year's numbers for the same period. With 517 more homes being sold this year than last year at this time, one would expect to find a similar growth in total sales volume. In fact, the more than $663 million in sales volume represents a 32% increase over last year. These numbers are particularly impressive given that average home prices increased a modest 5%. While these numbers are still below the peak numbers experienced in the market in 2006 and 2007, they still indicate solid, sustainable growth for the Buncombe County market. And with the 16% decrease in the number of homes on the market year-to-date under last year's homes available, it is anticipated that average price should continue to creep upward over the next six to nine months.

Black Mountain Homes Sales

The Black Mountain real estate numbers parallel those of Buncombe County in some ways. Homes sold increased a robust 28% year-to-date with 111 homes being sold, versus 87 in 2012 during the same months. Similarly, total sales volume increased 20%, to almost $24 million in 2013 versus almost $20 year-to-date in 2012. The surprising element to the numbers for Black Mountain is the small decrease in the average home price, 6%, for year-to-date 2013. As with the Buncombe County numbers, however, with the shrinking number of units on the market, a 7% decline in numbers of homes listed, it is anticipated that the average home sales price will slowly begin increasing over the next six to nine months. Another indicator for this prediction is the decrease in the number of days on the market (DOM) this year. While DOM had increased slowly since the peak years of 2007 and 2008 in Black Mountain, this year shows a decline in DOM, usually indicating growth in the real estate market for an area.

Final Reflections

Again, the market continues to demonstrate solid growth trends in both Black Mountain and Buncombe County as indicated by our market analysis, which includes the statistics provided by Western North Carolina MLS. Anecdotally, at Greybeard Realty, we continue to see solid interest in our western NC mountain listings and a positive growth rate in our number of homes sold. As always, we recognize the seasonal quality of our real estate market, but as indicated by a careful analysis of these year-to-date statistics, we anticipate continued growth, particularly as the supply of homes on the market continues to decrease. With market prices showing only modest increases and decreases, we expect the real estate market in the Asheville area to stay on this positive track for the foreseeable future.