July Real Estate Sales Results

Listening to the TV pundits or reading internet articles about housing, one would think we are certainly headed for a recession.  Reading the final results for July real estate sales in Haywood County contradicts this prediction of doom and gloom.

For Haywood County as a whole, new listings were down almost 22% from July 2021. (Keep in mind that inventories were low last year, pushing prices higher as buyers competed for homes in a tight market.)  Closed sales were down 16.7% from last year.  This was most likely caused by a smaller inventory of homes this year versus last year.  (295 homes for sale in July 2021 versus 256 homes for sale in July 2022.)  The average sales price of homes in July was up from $334,344 last year to $407,608 this year.  (This represents a 21.9% increase in prices year to year.)

As I have speculated in previous blogs, as long as inventories remain low, and buyers’ interest remains high, prices will continue to increase, although I believe prices will start to level off in the next 30 days.

The numbers reveal we are still in a “sellers’ market” and will remain a “sellers’ market” for the near term at least.

If you are thinking about selling your home, please consider letting us guide you through the process.  If you are a prospective buyer, we can help you find your little corner of these beautiful mountains.

Thank you!