By Mark Barrett • January 20, 2010
ASHEVILLE — Existing home sales rose by nearly 50 percent in Buncombe County last month, making December the fourth consecutive month in which sales topped the same month in 2008.
Sales in the fall and early winter of 2008 were especially bleak as a rapid decline in the stock market and the overall economy deterred buyers. That makes it easier for monthly sales totals in 2009 to surpass those from a year before.
However, the four-month winning streak has some in the industry hoping the local housing market has turned a corner.
“All my graphs are starting to point in the right direction,” said Chip Craig, owner of GreyBeard Realty in Black Mountain.
December's total of 197 home sales reported by the N.C. Mountains Multiple Listing Service was 47 percent higher than the 134 sold in December 2008 in Buncombe County. Sales were also up substantially in Haywood, Henderson and Transylvania counties.
“I'm seeing more optimism. Our inventories are down for the first time in forever,” Craig said, although some of the drop in homes for sale is due to seasonal factors.
Sales, however, are still much lower than they were in the middle of the decade.
“It's going to take several years to get back to where we were,” said Ann Eavenson, co-owner of MainStreet Realty in Waynesville. “It still feels slow. There definitely are more homes on the market than there are buyers looking.”
Click on Asheville Citizens Times for the complete story.
To learn more about the state of the Western North Carolina real estate market call the experts at Private Mountain Communities at 888-517-3322.
As the trusted authority on Asheville, PMC offers a real estate advisory service and cost free buyers resource center that showcases Western North Carolina communities and real estate offerings. You can visit us at our Discovery Showroom, the regions most comprehensive preview center located in the Grove Arcade in downtown Asheville or find us online at http://www.pmclifestyle.com/
Wednesday, January 20, 2010
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