Reports 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.