Conservatively Optimistic: NAI Beverly-Hanks Q1 2020 Commercial Market Report

Q1 2020 Commercial Activity: Predictions for the commercial real estate industry were conservatively optimistic at the start of the year. In our Year End 2019 Market Report, we indicated that a robust first quarter was unlikely, which was confirmed in some segments by the first quarter’s data.  Entering an election year, coupled with ongoing trade […]

The Future Remains Bright: The Beverly-Hanks Q1 2020 Market Report

These days we are getting only one question, although it comes in many forms: How will the novel coronavirus impact our local real estate market? As of now, buyers are still buying homes and sellers are still selling—and Beverly-Hanks is still here, at the ready, to serve our community. To give you the rundown of […]

Steady Growth Predicted in 2020: NAI Beverly-Hanks Year End 2019 Commercial Market Report

Year End 2019 Commercial Activity: 2019 was the second best year for commercial real estate in Western North Carolina, trailing only 2018. The four-county MSA reported just over $595 million in 2019 sales. In contrast, the region experienced only $92 million in closed transactions a decade ago. In 2019, all sectors reported strong sales, with […]

All-Time Multi-Family Record: NAI Beverly-Hanks Q3 2019 Commercial Market Report

Q3 2019 Commercial Activity: The sale of two apartment complexes in Asheville accounted for almost $125M of the $278M in commercial transactions for the third quarter. The District, located on Fairview Road near Biltmore Village, sold for $71,500,000. Skyland Exchange, located off Long Shoals Road in Arden, sold for $52,750,000. With 309 units, The District […]

Will the Seller’s Market Continue?: The Beverly-Hanks Q3 2019 Market Report

Thus far, 2019 has been favorable to the home buyers and sellers of Western North Carolina. It remains a seller’s market in most communities. But will the seller’s market continue? To give you the rundown, Beverly-Hanks President Neal Hanks, Jr. has delivered the Q3 2019 Real Estate Market Report. When breaking down the markets, we […]

Not Quite as Robust: NAI Beverly-Hanks Q2 2019 Commercial Market Report

Q2 2019 Commercial Activity: The bullets below tell the story: All categories were slightly off in Q2 2019 as compared with Q2 2018. The one exception was land, which was up 10%.  There were 124 closings in all sectors in quarter two for $121.8 million, compared to 186 sales for $181.2 million in Q2 2018. […]

The Year is Still Heating up: The Beverly-Hanks Q2 2019 Market Report

Summer is a perfect time to take stock of our forecasts and determine if Western North Carolina’s real estate markets are shaping up as we expected. Overall, the markets are active and are providing a lot of opportunity.  To give you the rundown, Beverly-Hanks President Neal Hanks, Jr. has delivered the Q2 2019 Real Estate […]

Jekyll and Hyde for the Office Sector: NAI Beverly-Hanks Q1 2019 Commercial Market Report

Q1 2019 Commercial Activity: Commercial sales transactions were sort of a mixed bag in Q1 2019. We saw 160 closings in the first quarter for $197 million compared to 160 closings in Q1 2018 for $290 million. In contrast, our median year-over-year sales price was very similar ($102/ft versus $107/ft). That tells us that there […]

Maintaining an Equilibrium: The Beverly-Hanks Q1 2019 Market Report

Understanding the various dynamics of our regional real estate markets is something we take seriously at Beverly-Hanks. And it’s during times of transition when our agents’ expertise becomes invaluable. Right now, there are confusing economic and housing headlines in the national news. There’s no question that macro trends impact our local real estate market conditions, […]