Local Market Sales Update for March 2022

I wanted to touch on the final numbers for March 2022 for Haywood County.  Low inventory continues to be the prime market statistic.  In March 2021 we had 139 new listings come on the market as compared to only 125 new listings this year in March.  Last year in March we had a total county inventory of 217 homes on the market.  This year we only had 133 total homes on the market, an almost 39% decrease from March 2021.  That all translates to a 1.1 month’s supply of homes as compared to a 1.9 month’s supply of homes in March 2021, a 42% decrease.  (This means if sales rates stayed the same, and no new homes came on the market, we would be out of homes by early May.)

The average home sales price in March 2021 was $355,654.  In March of this year the average home sales price was $379,339, a 6.7% increase in average price.  Year to date, homes are selling for 97% of the original list price.  Many homes are selling for more than the original list price as buyers compete for the sale, due to low inventory of available homes.

It seems there is no end to price increases as long as inventories remain low, and the cost of building a new home continues to increase.  If you are thinking of buying a home, or selling your existing home, let us know.  We can help you successfully negotiate the process.