We thought it would be interesting to share this graph & info from our latest newsletter, all about historical closed sales by month from the Western NC Regional MLS.
The Western NC Regional MLS is mainly comprised of six western counties, including Buncombe, Henderson, Transylvania, Haywood, Madison, and McDowell, with data of sales in outlying border counties too.
The data represented in this graph shows closed residential sales from January 2004 to September 2017. Based on the data, 2017 experienced a record year in the number of closed sales; surpassing the boom time of the 2006 real estate market. So, why is it that we keep hearing of low inventory supplies if the number of closed sales are higher than 2006?
The reason is that more people are moving to Western NC, and there are more home buyers than there are homes for sale in certain price ranges. Not all price ranges are experiencing a shortage on inventory; it is mainly the $200-400k section. Also, not all markets in our WNC Regional MLS are having an inventory shortage, although activity has picked up in all of the counties. According to my conversations with agents all over the region, many areas still have a lot of inventory available for home buyers.
If you have questions about your local market, feel free to send me an email at firstname.lastname@example.org or comment down below.