September Real Estate Sales Results

Wow, the colors are really beautiful this year.  At 5,000 to 6,000 feet the colors are already past the peak.  The fall colors are brilliant and gorgeous from 3500 to 5000 feet and will soon be beautiful at 2500-3000 feet here in Maggie Valley.

Okay, now, let’s talk real estate sales.  In September we had 141 new listings come on the market in Haywood County.  Last year in September we had 142 new listings come on the market, so very little change there.  Last year in September we only had a 2.1 months’ supply of homes on the market.   This year our inventory has risen to a 2.7 months’ supply.  So, our inventory has increased a bit, but is still far short of a 6 months’ supply, which is considered a balanced market.  (Less than 6 months is a sellers’ market, more than 6 months is a buyers’ market.)  As long as inventories of homes for sale remains low, prices should continue to rise a small amount.  At some point, prices should level off, or even decline a small amount with mortgage rates continuing to rise.

In September we sold 113 homes in Haywood County, compared to 134 homes in September last year.  This was a decrease in sales of 15.7% year to year.  Prices, however continued to rise in September to an average of $401,183, which was a 3.4% increase over September 2021.

Average listing prices continue to rise.  In September 2021 the average listing price was $355,319.  This year the average listing price is $447,986, which is a 26.1% increase year over year.  In my opinion, this is a knee-jerk reaction by sellers, and some real estate agents to the strong sales market and low inventory.  I believe some homes are now a bit overpriced on the market.  If you are considering buying a home, make sure your agent does a comparison to similar homes that have recently sold to give you some guidance on an offering price.

The last couple of years have been unique in our market.  If you are considering buying or selling a home, let us share our years of experience to help you make a smart choice.

(All market statistics courtesy of Canopy MLS and 2022 Showing Time.)