Serving Boone, Blowing Rock, Banner Elk, and other towns of the North Carolina High Country | Founded 05-05-05

|| High Country Press Newswire

SEPTEMBER 24, 2009 ISSUE

Area Real Estate Numbers Show Steady Improvement

The High Country Association of Realtors released statistics this week for residential homes sold through the end of August. The numbers continue to indicate a gradual improvement in residential sales for the area. Sales of residential units are up almost three times what they were in January, and have shown continued growth over the last five months. This tracks action across the state, as in June, realtors in North Carolina reported growth for five consecutive months for the first time since 2004.

But the local real estate market is not out of the woods, yet. When comparing year-to-date numbers with the same time period in 2008, the number of residential units sold is down 20.5 percent from the same time last year and the median sold price for residential units is down 11.8 percent. The average number of days a residential unit is on the market has decreased by 3.5 percent, and the number of new listings has dropped by 6.6 percent.

“There continues to be great buys out there for first-time homebuyers, as well as those who can afford to purchase properties,” said Carole Cox, president of the association.

“Many people have taken advantage of the tax credit for first-time homebuyers,” said Cox. “But to qualify for the tax credit, buyers must make their purchase by December 1, 2009. When you consider that it takes about two months to complete a home sale in the current market, people need to act now.”

According to Cox, more information about the tax credit for first-time homebuyers can be found by clicking to www.irs.gov/newsroom/article/0,,id=205416,00.html.

More information about the High County Association of Realtors can be found by clicking to www.highcountryrealtors.org. The association 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.