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Real Estate Recap August 2025
At first glance, August real estate sales seemed to be a bit slow. However, the month finished strong. Closed sales improved 4.1% over August 2024. Pending sales rose a whopping 67.5% over August 2024.
New listings rose 1.2% over August 2024. Our inventory of homes for sale rose 26.7% over August 2024. This brings our month’s supply of inventory to 6.0 months. (This means if sales rates continued the same, and no new homes came on the market, we would be out of homes to sell in exactly 6 months.) A 6 month’s supply of homes is considered a “balanced market”, which is neither a seller’s market, or a buyer’s market.
The percentage of original list price received dropped from 93.6% in August 2024 to 92.4% this August. This means the average home on the market has been discounted 7.6% from the original list price. Two factors make up this decrease: Price decreases as a home’s price is dropped by the sellers to better compete in the market and offers by buyers for less than the listed sales price.
So, all in all, August turned into a pretty good month for home sales in Haywood County.
If you are considering buying a home, or selling your home, please let us help guide you through the process. Thank you!
National Real Estate Trends or Local?
There is a saying in real estate that all real estate is local. Our market here in Haywood Country, NC does not mirror the market in Miami, Dallas, or anywhere else. I have recently seen several articles about real estate trends nationally. I thought it would be interesting to compare some national trends from these articles to our local numbers (Haywood County, NC). The numbers below are for July 2025 as these are the most current numbers available. (MOM=July 2025 compared to June 2025, YOY=July 2025 compared to July 2024)
Pending Sales MOM- Nationally -0.4% Locally +19.0%
Pending Sales YOY- Nationally +.25% Locally +46.5%
Price Growth YOY- Nationally +0.2% Locally -6.7%
Price Decreases YOY for select cities:
Tampa-6.2%—-Austin -6%—-Miami-4.6%—-Orlando-4.3%—-Dallas-3.9%
Our National Supply of homes listed for sale increased by 25% in July. Our Local Supply of homes listed for sale here in Haywood County increased by 47.7% in July. (Both YOY)
By the way, nationally, Raleigh, NC saw the largest increase in homes for sale YOY in July of any metropolitan area. Listings increased there by 54.5%.
To recap, our pending home sales in Haywood County were much higher than national numbers when comparing MOM or YOY for July. Our price growth was negative in July, -6.7% compared to +0.2% nationally. One month can always be an outlier. One reason for the price drop in July was the availability of lower priced inventory. In previous months it was difficult to find a decent home in the $300,000 and below price range. If you look at our January through July year to date price growth it comes in at a +1.6% increase. We do have sufficient inventory now, especially when compared to the last couple of years. We are in an unusual market here as many, if not most, of our customers and clients are retirees from Florida and other states moving here for our climate, and our beautiful mountains.
If you have any specific real estate questions, or needs, please let us know. We are here to help.
Real Estate Recap July 2025
If I had to sum up the information from July 2025, it would be the market continues toward a buyer’s market, as both inventories and sales continue to increase, while prices seemed to drop a bit.
New listings were up 13.8% from July 2024
Pending Sales were up a whopping 46.5% from July 2024
Closed Sales rose 18.4% from July 2024
The Median Sales Price dropped 7.3% from July 2024 to $380,000 (This was partially due to more lower-price-range homes coming on the market.)
The Average Sales Price dropped 6.7% from July 2024 to $473,771
Cumulative Days on the Market Until Sale rose to 91 days from 50 days last year.
The Month’s Supply of Inventory rose to 6.2 compared to 4.3 in July 2024
It appears with increased inventories and increased sales numbers, the days on the market has increased substantially, however our market has remained exceptionally strong. With more homes on the market, buyers aren’t in a hurry to make a strong offer, as there is no sense of urgency to buy NOW, as compared to July 2024. Buyers are not so worried that someone else will make a better offer, with more homes to choose from.
If you have real estate questions, let us know. We are a smaller firm, but with highly experienced agents who follow the local market closely.
Musings from the Mountains
As I have been mentioning in previous posts, we are still moving away from our seller’s market, which was caused by low inventories, to a buyer’s market. Inventories continue to increase, but sales, thank goodness, are still strong compared to the same month last year in 2024.
Prices seem to be holding up well, if the home is properly priced to the market. There are, however, too many homes on the market that are over-priced. These homes will stay on the market, and the number of days on the market will continue to increase if a home is not properly priced. In my opinion, if a home is on the market for a couple of weeks, with no showings, it’s time to take a serious look at pricing. We placed a home on the market last week that I believe was correctly priced. We had several showings the first day on the market. By day 3, we had a contract on the home. In my opinion, a home should never be over-priced. I realize that everyone wants to maximize the proceeds from a sale, but over-pricing causes a home to stay on the market, letting the number of days on the market steadily increase. A buyer looks carefully at the number of days on the market. Too many days on the market often invites low-ball offers. Also, buyers begin to wonder why the home has been on the market so long, is something wrong with the home?
Moral of the story: Correct pricing is one of the most important considerations when listing a home for sale.
If you have any questions about selling, or buying a home please let us know. We can help.
Real Estate Recap June 2025
The same trends that were building the last few months continued through June. Inventory levels of homes for sale have continued to rise. At the same time, the median sales price and the average sales price in Haywood County actually dropped for the first time in a while. One reason for the drop is the price range of homes that sold in June. More reasonably price homes sold than luxury homes. I do believe, however, that we are very close to moving from a seller’s market to a buyer’s market. Below are the numbers from June 2025.
In June we had 156 new listings come on the market compared with 148 coming on the market in June 2024.
Closed sales in June dropped 7.6% from June 2024, although pending sales rose 7.1% from June 2024, almost a wash.
The median sales price dropped 17.6% from June 2024 to $350,000 this June.
The average sales price dropped 19.5% from June 2024 to $378,188 this June.
Days on the market until a sale increased 26.8% from June 2024 to 52 days this June.
The average list price increased 8.7% from June 2024 to $525,080 this June. (Two factors are possibly at play here, more luxury homes coming on the market, and some sellers still overpricing their homes to the market.)
Last year in June 2024 we had a 4.0 month’s supply of homes on the market. This June our inventory has increased to a 6.5 month’s supply of homes on the market. (A balanced market is usually defined as a 5 to 6 month’s supply of homes. At a 6.5 month’s supply we are entering a buyer’s market.)
Please let us know if you have any real estate questions. We will find an answer for you.
Musings from the Mountains
Today I am taking a departure from the norm I want to talk about a cabin that may be coming on the market soon. The cabin sits atop a ridge at over 5000 ft. elevation. The views are absolutely spectacular will long-range views in a panorama 200 degrees wide. The home is very remote, yet not far from a portion of the Blue Ridge Parkway. Of all the homes and cabins we have sold, this one may rate number one for views, with range upon range of mountains visible.
The cabin has on open floor plan, 2 wood-burning fireplaces and is very charming. The cabin is low maintenance with fiber-cement siding, and a metal roof. The full basement serves as a garage, with 2 garage doors, and could hold at least 3 cars. The cabin does have electricity but also boasts a propane generator with an underground propane tank. There is even a chain-link-fenced doggie area to keep Fido from going on a walk-about. On 2 sides of the cabin there are both covered and uncovered decks. At this altitude, you will find yourself cooking and eating outdoors a lot! It just comes with the fresh air and an abundance of natural beauty.
I can’t say for sure when this cabin will be coming on the market, but soon, I hope. Keep in mind we can’t get too specific, and we cannot take any showings on this home until it’s officially on the market.
Stay tuned!
Real Estate Recap May 2025
The last few years, due to an historically low inventory of homes for sale, we have been in a seller’s market. It has now, in my opinion moved into a buyer’s market. In May of 2024 we had 291 homes for sale in Haywood County. This May our inventory of homes for sale had risen to 485 homes, a 66.7% increase from last year. In May 2024 we only had a 3.6 month’s supply of homes. This May that had grown to a 6.1 month’s supply of homes on the market. Closed sales also dropped 13.2% in May, when compared to May 2024. Sales prices, however, have not yet shown much inclination to retreat. The median sales price for this May was $397,500, a 7.1% increase from May 2024. The average sales price in May was $458,148, a 9.1% increase from May 2024.
Some other notable number comparisons from May 2024 to May 2025:
Days on the market until sale rose 60.5% from 38 days last May to 61 days this May.
The average list price of a home coming on the market decreased 4.4% from $575,525 last May to $549,925 this May.
As you can see, we are in a changing market. Please let us know if you would like to list a home for sale or are thinking about purchasing a home in our area. We can help you avoid the pitfalls of a changing market.
Musings from the Mountains
I realize I have spoken about this on our May 15th blog, but a trend is continuing, and it is important. Home inventories continue to rise. After a couple of years of thin inventories, it seems now that everyone and his brother has put their home on the market. For the first time in a couple of years, houses are plentiful, buyers, not so much. In my humble opinion, after being in a seller’s market for so long, we are now in a buyer’s market.
This can be a tough market for real estate agents. Sellers depend on real estate agents to sell their home in a timely fashion. I am almost positive that days on the market (the time from a home going on the market until it’s sold) will increase. The other unknown is pricing. Historically when going from a seller’s market to a buyer’s market, prices decrease. So far, this has not occurred. The last numbers I have for the county were the final numbers for April. In April the average sales price was actually up 27% from April 2024. I believe that prices will now begin to level off, and may even drop, depending on May and June sales results.
If you have any thoughts or comments, please let us know. We are here to help.
Real Estate Recap April 2025
If you regularly read our blog, you know that I have been writing about our local market changing from a sellers’ market to a balanced market for the last few months. After seeing April 2025 final numbers, I would say that the balanced market is here. Our inventory of homes for sale increased in April 2025 by almost 60% when compared to April 2024. We now have a 5.1 month’s supply of homes on the market. A balanced market is usually defined as having a 5 to 6 month’s supply of homes for sale. (In other words, if home sales continued at the current rate, and no additional homes came on the market, we would be out of homes for sale in 5 to 6 months.) The question now is will we go from a balanced market into a buyers’ market, if inventories continue to increase? Below are the local numbers for Haywood County in the month of April 2025:
New listings in April 2025 were up 72% compared to new listings in April 2024.
Closed sales in April 2025 were up 1.3% compared to closed sales in April 2024.
The median sales price in April 2025 rose to $411,000, a 13.4% increase compared to the median sales price in April 2024.
The average sales price in April 2025 rose to $520,722, a whopping 27% increase compared to the average sales price in April 2024.
Average days on the market has increased 102.5% from 40 days in April 2024 to 81 days in April 2025. (Searching for a reason for this- maybe more homes for sale equals more homes for a buyer to see, thereby increasing the days on the market?)
The average list price of a new listing coming on the market has increase 6.5% from April 2024 to April 2025. ($475,291 to $506,219)
The inventory of homes for sale has risen almost 60% from 250 in April 2024 to 399 in April 2025.
Lastly, the question becomes: Will we remain in a balanced market, or will inventories increase so much we move to a buyers’ market?
Thank you for reading our blog. Please let us know if you have any real estate questions.
Musings from the Mountains
It sure seems that the Waynesville and Maggie Valley area roads are all under construction. They are repaving at the intersection of Soco Road, and Jonathan Creek Road (Hwy 19 and 276 intersection). The NCDOT is also changing Jonathan Creek Road, at least the 6 miles between Hwy 19 (Soco Road) and Interstate 40 at exit 20. I have tried to figure out what they’re doing to the median, but for the life of me, I cannot. I suppose I must trust the DOT to know what needs doing to make the road more efficient and safer.
In Waynesville, Russ Avenue is still in the midst of a major remake. The bridge over the railroad tracks at the beginning of Russ Avenue is being replaced, as is the bridge just below that crosses over Richland Creek by Zaxbys Restaurant. One side of each bridge was demolished and that side is being rebuilt. It appears the workmen are getting very close to completing the sides that were being rebuilt. Soon they will open the new side to traffic and demolish the old sides of each bridge. I believe the expectation is to have them both completed by this Fall. The town of Waynesville also took the opportunity to replace water, sewage and drain lines along Russ Avenue while the bridge construction was underway.
There is also extensive work being done to make the entrance to Hwy 23-74 (The Great Smoky Mountains Expressway) safer for drivers merging into the expressway from Hwy 19. (coming from Maggie Valley) This merge has always been difficult as traffic from Maggie must merge into the expressway from the left. Most merges are done from the right side of the road. Hopefully, these changes will make the merge much safer.
Let’s not forget Interstate 40. Crews are still hard at work trying to repair the road which was washed away by Hurricane Helene. Currently they do have the interstate open, but near mile 2 in the Pigeon River Gorge, traffic is reduced to one lane in each direction with a speed limit of 35. This has caused some traffic congestion at times.
That’s not all the road work, but I believe it covers the major ones. Please let us know if you have any questions about the area.
