August Real Estate Sales Results

Another month is already come and gone.  It seems the older I get, the faster they go.

We did have an increase in the number of New Listings come on the market in August.  New listings were up 17.5% from August 2021.  This is good news, as we currently have a shortage in homes on the market within the Maggie Valley/ Waynesville area.  This gives us a 2.4- month supply of homes on the market.  This is an improvement over previous months inventory, but still definitely a “Sellers’ Market”.

Closed sales in August dropped 3.9% from August 2021, and days on the market for listed homes increased by 23.8%.  The market is strong, but these numbers seem to indicate the market is leveling somewhat.  The average sales price was up 5.8% from August 2021 to a price of $398,087.   This was a substantial increase, but not as large as increases seen in the previous few months.  Again, this indicates at least a slowing of the price increases we have seen monthly since Spring of 2020.

The average list price of homes coming on the market in August rose 3.8% from August 2021 to $421,798.  This is down from the year-to-date average list price of $438,410, yet another indicator of the market leveling off a bit.

I hope these numbers help you get a feel for market conditions here.  If you have any questions or comments, please let us know.

Thanks to Showing Time and Canopy MLS for the data provided above.