First quarter numbers for home sales in Buncombe County are in, and the real estate market momentum seems to be building. While the most recent numbers are not back to levels of the peak market times in 2007, the solid numbers seem to lay a firm foundation for continued real estate growth in the Asheville [...]

Asheville real estate sales show strength in numbers.

Even a quick glance at the Asheville real estate numbers for 2012 indicates positive signs for the western NC market.  In Buncombe County, the number of homes sold increased 21% for the year while in Black Mountain homes sold moved up 8%.  In addition, total sales volume increased 25% for the County and 17% for Black Mountain. These numbers confirm what Realtors in our market have been feeling all year.  The Asheville real estate market is back in business.

It is easy to see in the numbers provided by MLS that units sold and sales prices have bottomed out and are definitely rebounding.  What's even more impressive is that, for the first time since 2007, sales volume, price and median price for Asheville area homes all improved. While still not at the peak of 2007, the picture painted by the 2012 real estate market numbers is certainly a positive one.

While the numbers show that 2012 was a very good, solid year, the statistics also bode well for the 2013 real estate market as well.  One example to support this positive outlook is the sales to list price improving to 94%, indicating that homes are regaining value.  In addition, inventories of homes on the market decreased which indicates that supply is tightening a bit which should lead to higher prices if that trend holds true.

In assessing the 2012 numbers, the only statistic not showing improvement is Days on Market, but it is anticipated that that number will improve in 2013, particularly with the decrease of homes on the market.  For anyone waiting until the market bottoms out to enter into the buyers' market for Asheville, it's time to move forward.

Overall, the Asheville real estate market was very positive in 2012. For the most recent Asheville market numbers, check out our latest market statistics and trends. Yes, prices are still below peak prices before the recession, but almost all of the numbers indicate a very impressive upward trend.  And with the decrease in number of homes on the market, the prices should continue rising. In short, with the basic economic theory of supply and demand as support, the market is well on its way toward recovery. For more information on western NC real estate listings, contact Greybeard Realty.

The western North Carolina real estate market has begun to show signs of growth, as outlined in Greybeard's mid-July blog. And the latest figures for the national real estate market indicate that nationally, positive real estate signs are increasing.

In numbers released this month by the National Association of Realtors, existing home [...]

The Asheville Real Estate 2012 mid-year statistics have been released, and both Buncombe County and Black Mountain markets show positive signs of growth.  While still not to the peak market numbers from 2006-2008 in most categories, the 2012 Asheville Real Estate Sales Market report gives reason for [...]

For the first time in several years, Asheville Real Estate statistics indicate that residential building permits are on the rise.  Greybeard Realty tracks several market indicators to gauge the Asheville area real estate market, and our company sees the present statistics as a positive [...]

The Asheville Real Estate market has not experienced the large number of foreclosure properties  that other areas across the nation have. Despite that, Greybeard's Asheville foreclosure properties listings offer a wide range of homes, and our Realtors understand the special considerations a buyer needs when purchasing a distressed property.

In the last few weeks, several articles have discussed the impact foreclosed properties has had on the national real estate market. As more people lose their homes and move into rental properties, the number of rental properties available has diminished which in turn has increased rental rates.  Also, mortgage rates continue to hover at record low rates, making becoming a home owner more affordable.

Asheville Foreclosures Benefit From Rising Rents

More people are finding that, if they have solid employment and an excellent credit rating, they actually can lower their housing costs by buying a home. In many instance, particularly if they can find a foreclosed property that appeals to them, buyers can spend less money monthly if they own their home rather than renting.

Again, while there are financial benefits, buyers need to understand the complexities that can accompany buying a distressed home. For more information on Asheville foreclosure properties or to get more information about the process of buying a distressed property, please contact Greybeard Realty.

The Asheville Real Estate market has benefited from the strong retirement community that is drawn to it, and the soon-to-be-opened new Veterans' Home in Swannanoa should add to that community.  In addition to providing residential facilities to 100 veterans, this facility also will create new jobs for the area.

Asheville Retirement Means Magnificent Sunsets

Greybeard Realty has long appreciated the value of Asheville as a retirement community.  If you are considering Asheville, why not try out a long term rental or take a short term rental and experience one of the "retirement workshops" offered locally.  If you are committed to retiring to Asheville and want to go ahead and purchase the home you might not occupy year-round for several years, check out our listings of rental homes for sale.

If the ordeal of renting out your potential retirement home seems overwhelming, you should investigate our Greybeard Rentals award-winning property management team.  We can simplify the process of renting your Asheville rental cabin until you are ready to occupy it yourself.  For more information, contact Greybeard Realty.

The Asheville real estate market should continue to grow, if I can trust the lessons I learned in Econ 101 of supply and demand.  With the tightening of funds for contractors building homes on speculation, fewer new homes are coming onto the market.  Without that option, buyers are turning to existing single family homes.  All of that means a tightening supply of available homes.

Charming Greybeard Realty Black Mountain Listing

In Buncombe County and Black Mountain, the supply of homes available for sale is down 15 percent compared to the same time last year.  Market watchers will know that our supply drops this time of year so it is crucial to note that this figure is compared with last year's number for the same period.

With the inverse relationship involved with supply and demand, it can be argued that with the supply decreasing, we should see rising sales and perhaps prices.  The question that remains, however, is the impact of the recent foreclosure agreement with the banking industry.  While that agreement was pending, many banks ceased or slowed foreclosures.  Some market analysts predict that foreclosures will increase again which could affect that market adversely.

It's interesting to note that nationally, one in four home sales the last quarter of 2011 were for distressed homes.  Asheville spring always seems to bring signs of hope.  The decrease in Asheville area homes for sale seems to indicate that the Asheville real estate market may be headed for brighter times.  For more information about Western North Carolina real estate including Asheville homes for sale, please contact Greybeard Realty.

The Asheville real estate market, which showed some promising signs last year, can take more hope in the most recent numbers from real estate in the South.  In the South, sales of single family homes rose 3.8 percent in January.  While the median price for existing single family homes decreased 2.6 percent in the region, compared to January 2011, the market still shows signs of promise.

Asheville Real Estate

Unsold listed inventory of homes in the South reached a record 4.04 million in July of 2007.  Overall, the total listed inventory has been headed downward, and the inventory now stands 20.6 percent from a year ago.

While it's still early in 2012, various market signs are pointing to a more positive real estate market in the South.  We have to expect that the Asheville real estate market will be leading the way. For more information or for help in navigating the Asheville real estate market, please contact Greybeard Realty.

Several years ago, as the recession began, I wrote about the Asheville real estate market and looking for positives signs in a down market.  I noted that as we were one of the last markets affected, we should be the first to show signs of recovery.  The most recent numbers for the real estate market seem to give some bearing to that economic [...]