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.