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.