The pendulum has swung! Sales activity to date in 2012 has been phenomenal. The stock market is on a tear and consumer confidence is on the rise. We are seeing a lot more smiling faces these days and that is a very good thing.
The months ahead in the WNC real estate market will be interesting ones. Why so? As the media pounces on the long awaited good news in the real estate markets, Sellers will assume that all is well and prices will immediately bounce back. Hmmmmm. No question demand is improving, but we cannot forget the other side of the equation, supply.
In some price ranges and neighborhoods prices are indeed stabilizing. In others, there is still oversupply and downward pressure on pricing. Increased demand will right the ship in all categories over time. In the interim good counsel from a knowledgeable Realtor who is in tune with the dynamics of a changing market is critical for success.
In less than 30 days we will be releasing our Beverly-Hanks 1st Quarter Market Report. The report analyzes the latest regional foreclosures, sales pace, and real estate values trends for Buncombe, Haywood, Henderson, Madison, Polk, Rutherford, and Transylvania counties.
Access the current real estate market report for Western North Carolina.