Toggle Navigation
Menu
Featured Properties
Search Homes
For Buyers
9 Steps to Home Ownership
Closing Costs
Documenting Your Assets
First Time Buyers
Gated Communities
For Sellers
Getting the Highest Price for Your Home
Free Home Valuation
Create Accessible Showings
Curb Appeal Checklist
Home Appreciation
Info & Advice
All About Foreclosures
Contingencies in Contracts
Role of the MLS
The Listing Contract
What Not To Do When You're Applying for a Mortgage
Why choose me?
Testimonials
My New Blog
Quick Analysis Of Real Estate Sales in North Carolina High Country MLS Since 2008
June 11th, 2014 9:24 PM by Robbie Sharrett
If you like to read about and visualize numbers....
I ran some numbers from January - May, 2006 - 2014, to see the extent of changes in sales through MLS and the change in the MEDIAN sold price for each of those time periods. The High Country Multiple Listing Service, of which I am a member, encompasses the mountainous counties of western North Carolina which contain the small towns of Boone, Blowing Rock, Banner Elk, Beech Mountain, Newland, Linville and West Jefferson and Jefferson, North Carolina.
My market is where a Blue Ridge Parkway runs through it along the Eastern Continental Divide, the home of Appalachian State University and Lees McRae College, and the location of renown outdoor attractions like Grandfather Mountain, Tweetsie Railroad, several ski resorts from Appalachian Ski Mountain to Sugar Mountain to Beech Mountain, ziplines at Seven Devils and Boone, and the Rocky Knob Mountain Bike Park.
No shocker - sales are down from the high sales year of 2007(558 homes sold in the first five months). Number of sold homes(volume) has recovered from its low of 236 homes sold in the Jan-May 2009, but is still off 31% from sold count of the high year of 2007. Being off 31% in number of homes sold impacts our local economy greatly.
A bit of a surprise - the Jan - May 2014 median sold price is down to the LOWEST median sold price going back NINE years when looking at the first five months of each year since 2006.
The median SOLD price has continued to drop and is now at the lowest median sold price since 2006! Jan-May 2014 median sold price in MLS is $190,000, which is down 21% from the high median sold price of $242,000 during Jan - May 2008.
So, while the number of sold homes has increased for the Jan-May period every year since 2009, it is still off 31% from the pinnacle year in 2007.
Bottom line - While still off from 2007 highs, home sales have increased in number in the past few years, but buyers are snapping up less expensive homes. Any active buyer searching the real estate inventory for homes less than $200,000 in the Boone and Blowing Rock market knows quite painfully the inventory is slim.
Buyers looking for full time, affordable housing in our area are indicating through their market activity they think this may be their last chance to get a home under $200,000. They fear prices will begin to increase and inventory will remain scant.
This prompts the question - what are the 'normal' market numbers being used as benchmarks? Were the crazy lending and speculative building years prior to the recession too abnormal to even use as a benchmark? Perhaps there will be a new normal.
The number of homes listed for sale has increased about 20% in the past couple of years - there are now more than 2500 homes listed for sale in the High Country Association MLS. The current median listed price of all the 2500+ homes listed for sale is $280,000 (a long ways from the median sold price Jan-May 2014 of $190,000).
The AVERAGE listed price of all homes in MLS as of June 2014 is nearly $420,000. Discouraging news for full time owner occupants trying to find their place in the mountain sun.
But, the AVERAGE SOLD price of the 383 homes sold Jan-May 2014 is a reasonable $239,000...so, some buyers were able to find a value among the many high priced homes listed for sale.
Need help finding a good value home? Contact me. I have been a REALTOR in the mountains of North Carolina for over 30 years.
Activity in the real estate market has ratcheted up quickly in the past few months - I have been involved with 16 offers as a buyer agent or listing agent in the past four weeks. Pretty busy for our little mountain towns.
Posted in:
General
Posted by Robbie Sharrett on June 11th, 2014 9:24 PM
Post a Comment
Subscribe to this blog
Recent Posts:
I Earned 2 Top Seller Agent Awards
Just Listed! 225 Ridge Drive Linville, NC 28646
Just Listed! 3710 Howard's Creek Road Boone, NC 28607
Just Listed! 1354 Buena Vista Drive West Jefferson, NC 28694
Just Listed! 187 Moonfish Lane Boone, NC 28607
Just Listed! 126 Staghorn Hollow Road Beech Mountain, NC 28604
Busiest January Sales Month EVER?
Just Listed! 7456 Falcon Ridge Rd Lenoir, NC 28645
REDUCED $40K! 111 Ski View Lane Beech Mountain, NC 28604
More Land Offered WITH 1220 Aho Road Blowing Rock, NC 28605
Archives:
June 2007
Just Listed! Kirby Mountain Road Lenoir, NC 28645
Just Listed! ,
Just Listed! Briar Rose Trail Boone, NC 28607
Just Listed! TBD Coffey Knob Road Boone, NC 28607
Just Listed! Sunset Drive Blowing Rock, NC 28605
Just Listed! 1429 Rocky Mountain Road Boone, NC 28607
Just Listed! 1260 Fork Ridge Road Zionville, NC 28698
October 2014
Duplex for Sale Between Blowing Rock and Boone
Just Listed! 525 Linhigh Drive Newland, NC 28657
Just Listed! 1572 Bamboo Road Boone, NC 28607
September 2014
Just Listed! 167 Elliott Circle Blowing Rock, NC 28605
August 2014
Just Listed! 374 Monarch Lane Boone, NC 28607
Mortgages Now At Lowest Rate for 2014 - Are Homes Appreciating in Value?
Need Help with Down Payment in North Carolina?
Why Should I Pay for a New Survey - The House is in a Platted Subdivision
July 2014
Should You Pay a Rush Fee for a Quicker Appraisal?
Total Listed Homes Increasing BUT Number of Affordable Homes Decreasing in Boone and Blowing Rock NC Region
June 2014
Quick Analysis Of Real Estate Sales in North Carolina High Country MLS Since 2008
Getting a New Foreclosure Listing in Boone - Duplex
Manufactured Homes and a Veterans Administration Loan
Just Listed! 24C PineTop Banner Elk, NC 28604
May 2014
Have Foreclosures Really Decreased in Our Area?
Just Listed! 165 Briar Rose Trail Boone, NC 28607
Just Listed! 861 Slabtown Road Zionville, NC 28698
Foreclosed! Cheap Retreat by Mountain Stream - Easy Access in Ashe County
Foreclosures at Recession's LOW MARK for the NC Mountains
Coming Soon! Log Home Near the Parkway at Glendale Springs!
Coming Soon! Secluded Mountain Retreat in Ashe County!
Just Listed! 2747 Brigadoon Lane Lenoir, NC 28645
Coming Soon! Foreclosed Condo near Sugar Mountain!
April 2014
New Listing Coming Soon - Foreclosed Log Home in Ashe County
Analysis of Blowing Rock NC Real Estate Market During First Part of Recession
Just Listed! 232 Flannery Fork Farms Road Blowing Rock, NC 28605
June 2013
Just Listed! 272 Locust Point Drive Blowing Rock, NC 28605
March 2013
Just Listed! 222 Deer Creek Road W Jefferson, NC 28694
Just Listed! 1628 Poplar Street Lenoir, NC 28645
Just Listed! Lot 4, 7 and 8 Heavenly Mountain Drive Boone, NC 28607
September 2012
Just Listed! Lot 1 High Meadows Court Fleetwood, NC 28626
Just Listed! 1775 Main Street Blowing Rock, NC 28605
August 2012
Just Listed! 687 White Laurel Lane Boone, NC 28607
July 2011
Just Listed! 145 Brave Hawk Blowing Rock, NC 28605
June 2011
Just Listed! 841 Niley Cook Rd Blowing Rock, NC 28605
May 2011
Real Estate Trends in Watauga County
April 2011
New blog
September 2009
Just Listed! 389 Rock Cliff Road Boone, NC 28607
Just Listed! 108 Angelia Court Boone, NC 28607
August 2009
Just Listed! 612 White Laurel Lane Boone, NC 28607
Just Listed! Red Wolf Blowing Rock, NC 28605
February 2009
Just Listed! 126 Wild Daisy Lane Beech Mountain, NC 28604
December 2008
Just Listed! 116 Moonlight Ridge Road Boone, NC 28607
November 2008
Just Listed! 7521 US Hwy 221 South Blowing Rock, NC 28605
October 2008
Just Listed! 1946 Laurel Branch Road Vilas, NC 28692
August 2008
Just Listed! 249 Heather Street Boone, NC 28607
Just Listed! 147 Morning Star Blowing Rock, NC 28605
January 2008
Just Listed! Morning Star Blowing Rock, NC 28605
November 2007
Just Listed! 286 Sunrise Cove Blowing Rock, NC 28605
Just Listed! Chestnut Knob Trail Blowing Rock, NC 28605
August 2007
Just Listed! Alpine Drive Blowing Rock, NC 28605
July 2007
Just Listed! 9 and 11 Laurel Street Granite Falls, NC
Just Listed! Loveland Lane Valdese, NC
Just Listed! 254 Eastbrook Drive Boone, NC 28607
October 2014 (3)
September 2014 (1)
August 2014 (4)
July 2014 (2)
June 2014 (4)
May 2014 (9)
April 2014 (3)
June 2013 (1)
March 2013 (3)
September 2012 (2)
August 2012 (1)
July 2011 (1)
June 2011 (1)
May 2011 (1)
April 2011 (1)
September 2009 (2)
August 2009 (2)
February 2009 (1)
December 2008 (1)
November 2008 (1)
October 2008 (1)
August 2008 (2)
January 2008 (1)
November 2007 (2)
August 2007 (1)
July 2007 (3)
June 2007 (7)
Categories:
General (65)
Listing Agent, Se;;ers Agent, HomeLight (1)
Real Estate Sales in North Carolina Mountains (1)
My Favorite Blogs:
Sites That Link to This Blog:
×
Close
Add a new blog comment
*
Name:
*
Email Address:
URL:
*
Comment:
Characters from the image above:
Your entry does not match the image, please try again.
Submit Comment
×
Close
Subscribe To My Blog
*
Name:
*
Email Address:
Address:
City:
State:
Zip:
*
Characters from the image above:
Your entry does not match the image, please try again.
Subscribe