AUGUST 20, 2009 ISSUE
Area Real Estate Numbers Improving
The High Country Association of Realtors released statistics on Tuesday, August 11, for residential homes sold through the end of July. When compared with earlier months this year, the numbers indicate a gradual improvement in residential sales in the area, as well as in the median sold price of residential properties.
But the recovery has still not caught up to last year’s numbers. In July, the number of residential units sold was down 25.2 percent from the same time last year and the median sold price for residential property was down 6.8 percent.
The average number of days on the market—202—is on track with 2008. According to real estate market reports, this is a shorter period than in the Charlotte market, where the average number of days a property is on the market is 216 days. It’s a longer period than in Asheville, where the average number of days is 144. The median sold price for residential homes in Asheville is $207,500, while it is close to $220,000 in the High Country.
“Many people have taken advantage of the tax credit for first-time home buyers,” said Carole Cox, president of the association. "Our numbers show that 66 percent of July sales were for residential properties priced under $300,000. While active listings have gone down slightly from the same time last year, there are still plenty of properties for buyers to choose from. The program will expire soon, and I would like to see more people benefit from it,” she continued.
According to Cox, more information about the tax credit for first-time home buyers can be found by clicking to http://www.irs.gov/newsroom/article/0,,id=205416,00.html.
The High County Association of Realtors is composed of members in Watauga and Avery counties and the surrounding area who maintain a marketplace where buyers and sellers can safely transfer property under the guidance of a professional held to standards of excellence.
For more information, click to www.highcountryrealtors.org.
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