Back HomeReal Estate Recap August 2023
Our sales last month in Haywood County (Waynesville, Clyde, Canton and Maggie Valley) were off almost 26% from August 2022. Of course, we all know the market was going crazy in 2022. The average sales price of homes sold in August 2023 was $444,137, which is 12% above August 2022. Inventory of homes currently for sale is only 209, compared to 269 in August 2022. That corelates to a 2.3 month’s supply of homes for sale. (A 6 month’s supply is considered a balanced market.) This certainly places us in a seller’s market.
A few other facts: The current average list price of homes coming on the market is $518,218, which is 27% higher than in August 2022. Days on the market until sale is 40, compared to 25 days in August 2022. (It’s taking longer to get a contract.)
To summarize, sales have dropped this Summer (18.5% in July and 26% in August, compared to corresponding months in 2022). However, average sales prices have continued their upward trend, due mainly to the scarcity of homes on the market.
It continues to be a good time to sell a home, definitely a seller’s market. If you are a buyer, finding a home in your price range can be challenging. Let us help you in this unusual market.
