Real Estate Recap December 2023

In looking at the Haywood County real estate sales results for December, the same trends that we have been discussing are still happening.

In December 2022, we had 61 new listings come on the market.  December 2023 we only had 55 new homes come on the market, an almost 10% decline from last year.

In December 2022, we sold 82 homes.  December 2023 we only sold 62 homes, a 24% decrease from last year, although pending home sales rose 17% from last year partially offsetting the 24% decrease.

In December 2022 the average sales price was $395,084.  December 2023 the average sales price rose over 12% to $442,735.

In December 2022 the average days on the market from list to close was 92 days.  December 2023 this dropped to 78 days.  This was probably a result of fewer homes closing enabling attorneys to close quicker.

In December 2022 we had a 2.5 month’s supply of homes on the market.  December 2023 this fell to 2.2 month’s supply.   (A balanced market is usually defined as a 5 to 6 month’s supply of homes.)

As I said in my opening sentence, the same trends continued in December that have been going on for some time.  Fewer homes on the market leads to higher sales prices as buyers compete for homes to buy.

Please let us know if we can help you find a home.  Also, if you’re thinking of selling a home, let us do a current market analysis for you.  Your home may be worth more than you think.