Real Estate Recap January 2024

New listings for sale in Haywood County for January 2024 dropped by 27% compared to new listings in January 2023.  Pending sales for January 2024 also dropped by 19% compared to January 2023.  However, closed sales for January 2024 were up 24.5% when compared to January 2023.

Average sale prices of homes that were sold in January were up 13.6% to $429,126 when compared to January 2023.   This continues the trend of home prices increasing in 2024 versus the same month in 2023.

Days on the market until sale increased to 64 days versus 41 days in January 2023.

The average list price of new homes coming on the market decreased to $451,454 from January 2023’s average list price of $497,588.

Inventories of homes for sale in the county continue to drop.  We only have 172 homes for sale currently.  In January 2023 we had 203 homes for sale.  This brings our month’s supply of inventory down to 2 months.  As I have mentioned previously, a balanced real estate market is usually defined as having a 5 to 6 month’s supply of homes on the market.  The current market is definately a seller’s market.

We currently have 3 new housing communities being built and coming on the market, and 2 more communities of new homes in the planning stages.   Hopefully the new houses coming on the market will help the inventory situation.

If you’re thinking about buying a home, please let us know.  We can help!  If you’re thinking of selling your home, let us know.  We will come to your home and do a Comparable Market Analysis for you at no charge.  You may be surprised at what your home is worth in the current real estate market.