Allen Tate/Beverly-Hanks Q2 2024 Market Report

2024, quarter two real estate information for western North Carolina. Provided by Allen Tate/Beverly-Hanks, REALTORS®.

BUNCOMBE | HAYWOOD | HENDERSON | MADISON | MITCHELL | POLK | RUTHERFORD | TRANSYLVANIA | YANCEY | HIGHLANDS | CASHIERS

MARKET REPORT QUARTER TWO 2024

Real Estate Information for Western North Carolina

MARKET REPORT REAL ESTATE INFORMATION FOR WESTERN NORTH CAROLINA "We are encouraged by the trends we are seeing and expect that 2024 QUARTER TWO 2024

CONTENTS

Executive Summary ..................... 2–3 Community Outreach .................. 4–5 County Market Reviews ............. 6–23 Luxury Market Review ............. 24–25 Lots & Acreage Review............. 26–27 Commercial Market Review.... 28–29 New Home Communities............... 30 Mortgage Review............................. 31 Market Share................................... 32

will be yet another banner year in these beautiful mountains that we are so fortunate to call home." NEAL HANKS PRESIDENT

As we enter the “dog days of summer,” the local real estate market remains active, propelled by a continued strong interest in our mountain region’s favorable climate, abundant outdoor recreation, and world-class culinary and music scenes. Our region is long renowned for these attributes, and more and more people are experiencing a high quality of life in our region, as evidenced by the dramatic increase in air travel to and from the Asheville Regional Airport. A recent report states,“The Asheville Regional Airport is one of the fastest-growing airports in the country, and the third-busiest in North Carolina after Charlotte and Raleigh. In 2023, a record 2.25 million passengers were served. A whopping 70% of those travelers arrive here for leisure purposes.”

There is no question that the demand to live in our mountains remains strong! As you likely know, limited inventory in the region has tempered the velocity of sales during the last two years and supported a continued increase in sales prices. Those trends continued in the second quarter of 2024, although we are seeing some slight improvements. The median sales price rose by 9% compared to a year ago, to $463,395. Available home inventory has seen a significant increase over the last 12 months, growing by over 56% to 2,855 units for sale in our region. While a significant improvement, inventory remains low by historical standards and many willing home buyers continue to struggle to find a home that meets their needs and budget.

RESIDENTIAL INVENTORY FOR SALE 2014–2024, Q2 (By Quarter)

0 1000 2000 3000 4000 5000 6000 7000 8000

6,319

2,855

889

2014Q3 2014

2015Q3 2015

2016Q3 2016

2017Q3 2017

2018Q3 2018

2019Q3 2019

2020Q3 2020

2021Q3 2021

2022Q3 2022

2023Q3 2023

2014Q1

2014Q2

2014Q4

2015Q1

2015Q2

2015Q4

2016Q1

2016Q2

2016Q4

2017Q1

2017Q2

2017Q4

2018Q1

2018Q2

2018Q4

2019Q1

2019Q2

2019Q4

2020Q1

2020Q2

2020Q4

2021Q1

2021Q2

2021Q4

2022Q1

2022Q2

2022Q4

2023Q1

2023Q2

2023Q4

2024Q1

2024Q2

On the cover: Pipevine Swallowtail Butterfly: The pipevine swallowtail butterfly is found throughout North America, known for its iridescent blue-black wings and distinctive swallowtail shape. As caterpillars, they feed on toxic pipevine plants, which provide the adult butterflies with chemical defenses against predators. Their shimmering coloration also deters potential threats. This butterfly plays a crucial role in the ecosystem, serving as a pollinator in the spring and summer.

ALLENTATE.COM/WNCMARKETRESEARCHCENTER

THE REGION'S VITAL SIGNS | QUARTER TWO 2024

LIST/SELL RATIO 96%

HOMES FOR SALE 2,855 <1% DISTRESSED SALES 2023: 1,830

CLOSED DAYS ON MARKET

56 2023: 50

2023: 98%

ACTIVE DAYS ON MARKET

MEDIAN SALES PRICE $ 463,395

98

2023: $425,000

2023: <1%

2023: 105

Interest rates, which have hovered above 7% for much of the year, have also created affordability challenges for many. Recent weeks have seen some improvement, with interest rates between 6.5–7%. The average rate on the benchmark 30-year mortgage decreased by six basis points, descending to 6.89% the week ending July 11, according to Freddie Mac data. A basis point is one one-hundredth of a percentage point. Despite mortgage rates remaining elevated and fluctuating within a relatively narrow range over the past few months, many housing market experts expect rates to recede slightly in the coming months. That is assuming the Federal Reserve finally implements cuts to its benchmark interest rate. We hope these experts are correct. If rates remain below 7%, we anticipate an increase in buying activity during the balance of the year. While we are not experiencing quite as robust of a sales pace as we did a few years ago, closed sales in the region remain at very healthy levels, down 2% in units and up 10% in volume from a year ago. As we enter what has historically been the most active half of the year for real estate sales, we are encouraged by the trends we are seeing and expect that 2024 will be yet another banner year in these beautiful mountains that we are so fortunate to call home.

YEAR-TO-DATE CLOSED SALES Based on MLS data (Residential by Volume). +10%

MEDIAN SALES PRICE +9% Based on MLS data.

HOMES FOR SALE + 56% Based on MLS data.

QUARTER TWO 2024 3

CULTURE OF CARING

7

3

13 4

17

16

12

9

10

5

14

8

6

15

18

11

OFFICE LOCATIONS

15 14 13 11 12

16 17 18

5 4 3 1 2

6 7 9 8

Sapphire 2365 Highway 64 East Cashiers, NC 28717 (828) 507-3156 Saluda 38 North Main Street Saluda NC 28773 (828) 749-3504 NAI Beverly-Hanks 410 Executive Park Asheville, NC 28801 (828) 210-3940 Highlands-Downtown 295 Dillard Road Highlands, NC 28741 (828) 526-8784 Lake Lure 1518 Memorial Highway Lake Lure, NC 28746 (828) 436-5120

Walnut Cove Realty 1874 Brevard Road, Suite 125 Arden, NC 28704 (828) 684–5151 Waynesville 74 North Main Street Waynesville, NC 28786 (828) 452-5809 Wildcat Cliffs/Cashiers 5121 Cashiers Road Highlands, NC 28741 (828) 526-4525

Asheville 300 Executive Park Asheville, NC 28801 (828) 254-7221

Hendersonville 512 North Main Street Hendersonville, NC 28792 (828) 697-0515 Fletcher 4005 Hendersonville Road Fletcher, NC 28732 (828) 484-3130 Cashiers 40 Cashiers Shopping Center Cashiers, NC 28717 (800) 210-0321 Brevard, South 7737 Greenville Highway Brevard, NC 28712 (828) 877-4490 Burnsville 369 West US 19-East Burnsville, NC 28714 (828) 678-9944

Asheville, Biltmore Avenue 40 Biltmore Avenue Asheville, NC 28801 (828) 571-0744

Asheville, North 820 Merrimon Avenue Asheville, NC 28804 (828) 251-1800

Brevard, Downtown 6 East Main Street Brevard, NC 28712 (828) 877-6006 Asheville, South One Town Square Boulevard Suite 140 Asheville, NC 28803 (828) 684-8999

10

ALLENTATE.COM

HERE ARE A FEW OF OUR FAVORITES... Hundreds of Western North Carolina organizations strengthen the communities we call home. At Allen Tate/Beverly-Hanks, we believe that everyone should have the opportunity to enjoy the quality of life for which Western North Carolina has become famous. That's why making a significant difference in the communities in which we live and serve is a tenet of our company's core values and why we promote a culture of giving.

Luckily for us, agents and staff alike spend hundreds of hours participating in monthly volunteer opportunities, serving on nonprofit and city boards, and donating their time. Here are just a few ways they gave back during the second quarter of 2024.

Cheers to our summer Karma Keg!

Clients say our agents are lifesavers, and in some cases that is literally true. In June, Waynesville’s McElroy and Ellege Team hosted their 3rd annual blood drive with The Blood Connection. The donations saved 54 lives within our local community. The event was even sweeter with the accompaniment of Frozen Josie's Ice Cream Truck. Learn more at: thebloodconnection.org Saving lives one pint at a time! Every month, agents from our North Asheville office volunteer at ABCCM’s Transformation Village. Cook teams provide and serve dinner to 45–55 residents staying at the location’s transitional housing facility for homeless women, mothers with children, and veterans. Serving these incredible women is one of our favorite regular activities. Learn more at: abccm.org/ministry-services/transformation-village Serving up good times! Each quarter, we gather at a local brewery to raise money for a good cause, to be determined at the end of the night. More than 130 people came out to Trailside Brewing Co. in Hendersonville to make our most recent fundraiser a huge success! We collected $1,666 for this season’s big winner, Toys for Tots. Learn more at: toysfortots.org

QUARTER TWO 2024 5

BUNCOMBE COUNTY SALES BY PROPERTY TYPE

SINGLE-FAMILY RESIDENCE 845 2023: 817

CONDO/ TOWNHOUSE 137 2023: 152

LOTS (0–10 ACRES)

ACREAGE (10+ ACRES)

152 2023: 85

2023: 12 13

HOMES SOLD

HOMES FOR SALE

Year Over Year +25%

1

$0-99,999

25 85

$100,000-199,999

$200,000-299,999

177 190 127

$300,000-399,999

$400,000-499,999

4

$0-99,999

$500,000-599,999

7

$100,000-199,999

89 72 53 37

$600,000-699,999

51

$200,000-299,999

$700,000-799,999

113

$300,000-399,999

$800,000-899,999

146

$400,000-499,999

$900,000-999,999

115

$500,000-599,999

126 TOTAL: 982

$1,000,000+

89

$600,000-699,999

65

$700,000-799,999

MEDIAN SALES PRICE $ 510,145

44

$800,000-899,999

39

$900,000-999,999

190 TOTAL: 863

$1,000,000+

SALES PACE

Homes Sold per Month

265

229

54

Days on Market

162 2014

2024

2019

LOTS

ACREAGE

p p p q q

p q p p q

Parcels Sold

152

Parcels Sold

13

Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)

$202,323

Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)

$12,774

216 400

216 364

Months of inventory

10

Months of inventory

24

ALLENTATE.COM/WNCMARKETRESEARCHCENTER

BUNCOMBE COUNTY | QUARTER TWO 2024

LIST/SELL RATIO 97% 2023: 98%

HOMES FOR SALE 863 2023: 688

DISTRESSED SALES

CASH SALES 36% 2023: 33%

CLOSED DAYS ON MARKET 43 2023: 38

ACTIVE DAYS ON MARKET

2023: <1% <1%

93

2023: 101

$0-$99,999

$100,000-$199,999

$200,000-$299,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

q p

vw

p q p p p

Homes Sold

1

Homes Sold

25

Homes Sold

85

q q p

List/Sell Ratio

113%

List/Sell Ratio

82%

List/Sell Ratio

94%

Days on Market (Active)

NA

NA

Days on Market (Active)

64

Days on Market (Active)

64

q p

Days on Market (Closed)

4

Days on Market (Closed)

52

Days on Market (Closed)

45

vw

Months of Inventory

0

Months of Inventory

1

Months of Inventory

2

$300,000-$399,999

$400,000-$499,999

$500,000-$599,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

q q p q

p q q p p

q q p p p

Homes Sold

177

Homes Sold

190

Homes Sold

127

List/Sell Ratio

97%

List/Sell Ratio

98%

List/Sell Ratio

97%

Days on Market (Active)

94

Days on Market (Active)

73

Days on Market (Active)

77

Days on Market (Closed)

49

Days on Market (Closed)

39

Days on Market (Closed)

49

vw

Months of Inventory

2

Months of Inventory

2

Months of Inventory

3

$600,000-$699,999

$700,000-$799,999

$800,000-$899,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

p q q p p

p q q p p

p p q q q

Homes Sold

89

Homes Sold

72

Homes Sold

53

List/Sell Ratio

99%

List/Sell Ratio

99%

List/Sell Ratio

98%

Days on Market (Active)

94

Days on Market (Active)

88

Days on Market (Active)

81

Days on Market (Closed)

37

Days on Market (Closed)

40

Days on Market (Closed)

25

Months of Inventory

3

Months of Inventory

3

Months of Inventory

2

LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA

$900,000-$999,999

$1,000,000+

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

q q p q p

p p q q q

Homes Sold

37

Homes Sold

126

List/Sell Ratio

98%

List/Sell Ratio

98%

Days on Market (Active)

107

Days on Market (Active)

125

Days on Market (Closed)

47

Days on Market (Closed)

47

Months of Inventory

3

Months of Inventory

5

QUARTER TWO 2024 7

HAYWOOD COUNTY SALES BY PROPERTY TYPE

SINGLE-FAMILY RESIDENCE 222 2023: 273

CONDO/ TOWNHOUSE 16 2023: 22

LOTS (0–10 ACRES) 69 2023: 35

ACREAGE (10+ ACRES)

2023: 9 11

HOMES SOLD

HOMES FOR SALE

Year Over Year +41%

7

$0-99,999

17 45 57 41 21 23

$100,000-199,999

$200,000-299,999

$300,000-399,999

$400,000-499,999

3

$0-99,999

$500,000-599,999

11

$100,000-199,999

$600,000-699,999

25

$200,000-299,999

9 9 4

$700,000-799,999

64

$300,000-399,999

$800,000-899,999

66

$400,000-499,999

$900,000-999,999

34

$500,000-599,999

5 TOTAL: 238

$1,000,000+

31

$600,000-699,999

16

$700,000-799,999

MEDIAN SALES PRICE $ 380,750

17

$800,000-899,999

14

$900,000-999,999

36 TOTAL: 317

$1,000,000+

60 224 SALES PACE

Days on Market

72 69

Homes Sold per Month

2014

2019

2024

LOTS

ACREAGE

p p p q q

p q q q q

Parcels Sold

69

Parcels Sold

11

Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)

$77,432

Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)

$10,749

205 469

201 356

Months of inventory

19

Months of inventory

18

ALLENTATE.COM/WNCMARKETRESEARCHCENTER

HAYWOOD COUNTY | QUARTER TWO 2024

HOMES FOR SALE 317 2023: 225

DISTRESSED SALES

CLOSED DAYS ON MARKET 45 2023: 45

CASH SALES 42% 2023: 38%

LIST/SELL RATIO 95% 2023: 96%

ACTIVE DAYS ON MARKET

1%

96

2023: 1%

2023: 106

$0-$99,999

$100,000-$199,999

$200,000-$299,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

p q p q

q p q q p

q

Homes Sold

7

Homes Sold

17

Homes Sold

45

q

List/Sell Ratio

75%

List/Sell Ratio

91%

List/Sell Ratio

94%

q p p

Days on Market (Active)

61

Days on Market (Active)

83

Days on Market (Active)

69

Days on Market (Closed)

30

Days on Market (Closed)

32

Days on Market (Closed)

39

vw

Months of Inventory

1

Months of Inventory

2

Months of Inventory

2

$300,000-$399,999

$400,000-$499,999

$500,000-$599,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

q

q p q q p

q

Homes Sold

57

Homes Sold

41

Homes Sold

21

vw

q

List/Sell Ratio

96%

List/Sell Ratio

98%

List/Sell Ratio

96%

p p p

q p p

Days on Market (Active)

81

Days on Market (Active)

79

Days on Market (Active)

62

Days on Market (Closed)

38

Days on Market (Closed)

44

Days on Market (Closed)

50

Months of Inventory

3

Months of Inventory

5

Months of Inventory

5

$600,000-$699,999

$700,000-$799,999

$800,000-$899,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

BALANCED

p p p p p

q q p p p

p q p q q

Homes Sold

23

Homes Sold

9

Homes Sold

9

List/Sell Ratio

99%

List/Sell Ratio

97%

List/Sell Ratio

99%

Days on Market (Active)

110

Days on Market (Active)

167

Days on Market (Active)

111

Days on Market (Closed)

56

Days on Market (Closed)

43

Days on Market (Closed)

41

Months of Inventory

4

Months of Inventory

5

Months of Inventory

6

LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA

$900,000-$999,999

$1,000,000+

Home Values

BUYER'S MARKET

Home Values

BUYER'S MARKET

vw

q q q q p

Homes Sold

4

Homes Sold

5

q q p p

List/Sell Ratio

96%

List/Sell Ratio

90%

Days on Market (Active)

114

Days on Market (Active)

156

Days on Market (Closed)

56

Days on Market (Closed)

194

Months of Inventory

11

Months of Inventory

22

QUARTER TWO 2024 9

HENDERSON COUNTY SALES BY PROPERTY TYPE

SINGLE-FAMILY RESIDENCE 394 2023: 406

CONDO/ TOWNHOUSE 67 2023: 92

LOTS (0–10 ACRES) 66 2023: 57

ACREAGE (10+ ACRES)

2023: 8 9

HOMES SOLD

HOMES FOR SALE

Year Over Year +60%

1 9

$0-99,999

$100,000-199,999

57 90

$200,000-299,999

$300,000-399,999

112

$400,000-499,999

0

$0-99,999

61 44 24 19 15

$500,000-599,999

10

$100,000-199,999

$600,000-699,999

31

$200,000-299,999

$700,000-799,999

88

$300,000-399,999

$800,000-899,999

110

$400,000-499,999

$900,000-999,999

51

$500,000-599,999

29 TOTAL: 461

$1,000,000+

41

$600,000-699,999

34

$700,000-799,999

MEDIAN SALES PRICE $ 461,000

25

$800,000-899,999

15

$900,000-999,999

84 TOTAL: 489

$1,000,000+

94 SALES PACE

124 58

Homes Sold per Month

112

Days on Market

2014

2024

2019

LOTS

ACREAGE

q p q p q

p q q q q

Parcels Sold

66

Parcels Sold

9

Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)

$114,124

Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)

$35,250

226 485

322 242

Months of inventory

20

Months of inventory

12

ALLENTATE.COM/WNCMARKETRESEARCHCENTER

HENDERSON COUNTY | QUARTER TWO 2024

HOMES FOR SALE 489 2023: 305

LIST/SELL RATIO 97% 2023: 100%

DISTRESSED SALES

CLOSED DAYS ON MARKET 43 2023: 43

CASH SALES 37% 2023: 37%

ACTIVE DAYS ON MARKET

1%

89

2023: 0%

2023: 99

$0-$99,999

$100,000-$199,999

$200,000-$299,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

p

p

q q q p p

Homes Sold

1

Homes Sold

9

Homes Sold

57

List/Sell Ratio

85% NA

List/Sell Ratio

86% NA

List/Sell Ratio

96%

p

Days on Market (Active)

NA

NA

Days on Market (Active)

84

Days on Market (Active)

52

Days on Market (Closed)

2

NA

Days on Market (Closed)

75

NA

Days on Market (Closed)

38

q

p

Months of Inventory

0

Months of Inventory

3

Months of Inventory

2

$300,000-$399,999

$400,000-$499,999

$500,000-$599,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

q q p p p

q q p q p

q q p q p

Homes Sold

90

Homes Sold

112

Homes Sold

61

List/Sell Ratio

96%

List/Sell Ratio

98%

List/Sell Ratio

98%

Days on Market (Active)

98

Days on Market (Active)

66

Days on Market (Active)

75

Days on Market (Closed)

36

Days on Market (Closed)

37

Days on Market (Closed)

26

Months of Inventory

3

Months of Inventory

3

Months of Inventory

3

$600,000-$699,999

$700,000-$799,999

$800,000-$899,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

p q q p p

p p q p p

p q p p q

Homes Sold

44

Homes Sold

24

Homes Sold

19

List/Sell Ratio

98%

List/Sell Ratio

97%

List/Sell Ratio

97%

Days on Market (Active)

89

Days on Market (Active)

66

Days on Market (Active)

129

Days on Market (Closed)

51

Days on Market (Closed)

74

Days on Market (Closed)

71

Months of Inventory

3

Months of Inventory

4

Months of Inventory

4

LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA

$900,000-$999,999

$1,000,000+

Home Values

SELLER'S MARKET

Home Values

BUYER'S MARKET

p p q q

p q q q p

Homes Sold

15

Homes Sold

29

List/Sell Ratio

96%

List/Sell Ratio

96%

Days on Market (Active)

113

Days on Market (Active)

124

Days on Market (Closed)

64

Days on Market (Closed)

55

vw

Months of Inventory

3

Months of Inventory

9

QUARTER TWO 2024 11

MADISON COUNTY SALES BY PROPERTY TYPE

SINGLE-FAMILY RESIDENCE 68 2023: 66

CONDO/ TOWNHOUSE 1 2023: 2

LOTS (0–10 ACRES) 24 2023: 12

ACREAGE (10+ ACRES)

2023: 13 16

HOMES SOLD

HOMES FOR SALE Year Over Year -10%

1 2 7

$0-99,999

$100,000-199,999

$200,000-299,999

15 20 10

$300,000-399,999

$400,000-499,999

1

$0-99,999

$500,000-599,999

4

$100,000-199,999

4 3 4 0

$600,000-699,999

4

$200,000-299,999

$700,000-799,999

23

$300,000-399,999

$800,000-899,999

16

$400,000-499,999

$900,000-999,999

10

$500,000-599,999

3 TOTAL: 69

$1,000,000+

3

$600,000-699,999

6

$700,000-799,999

MEDIAN SALES PRICE $ 421,990

5

$800,000-899,999

3

$900,000-999,999

9 TOTAL: 84

$1,000,000+

SALES PACE

Days on Market

175

41

Homes Sold per Month

12

20

2014

2019

2024

LOTS

ACREAGE

p p p q q

p q q q q

Parcels Sold

24

Parcels Sold

16

Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)

$84,016

Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)

$8,040

301 470

99

310

Months of inventory

20

Months of inventory

9

ALLENTATE.COM/WNCMARKETRESEARCHCENTER

MADISON COUNTY | QUARTER TWO 2024

HOMES FOR SALE 84 2023: 93

LIST/SELL RATIO 95% 2023: 95%

DISTRESSED SALES

CASH SALES 38% 2023: 37%

CLOSED DAYS ON MARKET 78 2023: 75

ACTIVE DAYS ON MARKET

0%

2023: 97 130

2023: 0%

$0-$99,999

$100,000-$199,999

$200,000-$299,999

Home Values

SELLER'S MARKET

Home Values

BALANCED

Home Values

SELLER'S MARKET

vw

q q p q p

q p p q p

Homes Sold

1

Homes Sold

2

Homes Sold

7

p

List/Sell Ratio

71%

List/Sell Ratio

82%

List/Sell Ratio

97%

Days on Market (Active)

45

NA

Days on Market (Active)

289

Days on Market (Active)

108

q p

Days on Market (Closed)

73

Days on Market (Closed)

99

Days on Market (Closed)

57

Months of Inventory

3

Months of Inventory

6

Months of Inventory

2

$300,000-$399,999

$400,000-$499,999

$500,000-$599,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

q q p p p

p

p q p p q

Homes Sold

15

Homes Sold

20

Homes Sold

10

q q

List/Sell Ratio

95%

List/Sell Ratio

97%

List/Sell Ratio

95%

Days on Market (Active)

145

Days on Market (Active)

72

Days on Market (Active)

85

q q

Days on Market (Closed)

98

Days on Market (Closed)

66

Days on Market (Closed)

66

Months of Inventory

5

Months of Inventory

2

Months of Inventory

3

$600,000-$699,999

$700,000-$799,999

$800,000-$899,999

Home Values

SELLER'S MARKET

Home Values

BALANCED

Home Values

SELLER'S MARKET

q p q p q

q p p q p

p q q q q

Homes Sold

4

Homes Sold

3

Homes Sold

4

List/Sell Ratio

96%

List/Sell Ratio

102%

List/Sell Ratio

97%

Days on Market (Active)

68

Days on Market (Active)

134

Days on Market (Active)

155

Days on Market (Closed)

90

Days on Market (Closed)

8

Days on Market (Closed)

62

Months of Inventory

2

Months of Inventory

6

Months of Inventory

4

LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA

$900,000-$999,999

$1,000,000+

Home Values

SELLER'S MARKET

Home Values

BUYER'S MARKET

p p p p q

Homes Sold

NA

NA

Homes Sold

3

List/Sell Ratio

NA

NA

List/Sell Ratio

89%

q

Days on Market (Active)

140

Days on Market (Active)

189

Days on Market (Closed)

NA

NA

Days on Market (Closed)

209

q

Months of Inventory

<1

Months of Inventory

9

QUARTER TWO 2024 13

POLK COUNTY SALES BY PROPERTY TYPE

SINGLE-FAMILY RESIDENCE 70 2023: 65

CONDO/ TOWNHOUSE 5 2023: 4

LOTS (0–10 ACRES)

ACREAGE (10+ ACRES)

26

9

2023: 17

2023: 4

HOMES SOLD

HOMES FOR SALE

Year Over Year +26%

1 2

$0-99,999

$100,000-199,999

12 19

$200,000-299,999

$300,000-399,999

9 8 2 3 6 4

$400,000-499,999

0

$0-99,999

$500,000-599,999

1

$100,000-199,999

$600,000-699,999

6

$200,000-299,999

$700,000-799,999

9

$300,000-399,999

$800,000-899,999

20

$400,000-499,999

$900,000-999,999

11

$500,000-599,999

9 TOTAL: 75

$1,000,000+

10

$600,000-699,999

8

$700,000-799,999

MEDIAN SALES PRICE $ 450,000

8

$800,000-899,999

7

$900,000-999,999

33 TOTAL: 113

$1,000,000+

SALES PACE

323

Days on Market

82

Homes Sold per Month

12

22

2014

2019

2024

LOTS

ACREAGE

p p p p p

p q q q q

Parcels Sold

26

Parcels Sold

9

Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)

$101,111

Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)

$15,458

231 329

171 316

Months of inventory

21

Months of inventory

17

ALLENTATE.COM/WNCMARKETRESEARCHCENTER

POLK COUNTY | QUARTER TWO 2024

HOMES FOR SALE 113 2023: 90

DISTRESSED SALES

LIST/SELL RATIO 93% 2023: 91%

CASH SALES 43% 2023: 33%

CLOSED DAYS ON MARKET 86 2023: 58

ACTIVE DAYS ON MARKET

0%

132

2023: 0%

2023: 153

$0-$99,999

$100,000-$199,999

$200,000-$299,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

p

p p q q p

q q q q

Homes Sold

1

Homes Sold

2

Homes Sold

12

List/Sell Ratio

86% NA

List/Sell Ratio

82%

List/Sell Ratio

92%

Days on Market (Active)

NA

NA

Days on Market (Active)

23

Days on Market (Active)

47

p q

Days on Market (Closed)

414

Days on Market (Closed)

91

Days on Market (Closed)

109

vw

Months of Inventory

0

Months of Inventory

2

Months of Inventory

2

$300,000-$399,999

$400,000-$499,999

$500,000-$599,999

Home Values

SELLER'S MARKET

Home Values

BUYER'S MARKET

Home Values

SELLER'S MARKET

p q q p q

vw

q

Homes Sold

19

Homes Sold

9

Homes Sold

8

p q q p

p

List/Sell Ratio

93%

List/Sell Ratio

100%

List/Sell Ratio

98%

q q p

Days on Market (Active)

34

Days on Market (Active)

61

Days on Market (Active)

104

Days on Market (Closed)

53

Days on Market (Closed)

4

Days on Market (Closed)

56

Months of Inventory

1

Months of Inventory

7

Months of Inventory

4

$600,000-$699,999

$700,000-$799,999

$800,000-$899,999

Home Values

BUYER'S MARKET

Home Values

BUYER'S MARKET

Home Values

BUYER'S MARKET

q

p q q p q

q q q q q

Homes Sold

2

Homes Sold

2

Homes Sold

3

p q p p

List/Sell Ratio

101%

List/Sell Ratio

101%

List/Sell Ratio

97%

Days on Market (Active)

269

Days on Market (Active)

269

Days on Market (Active)

286

Days on Market (Closed)

207

Days on Market (Closed)

207

Days on Market (Closed)

109

Months of Inventory

15

Months of Inventory

15

Months of Inventory

8

LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA

$900,000-$999,999

$1,000,000+

Home Values

SELLER'S MARKET

Home Values

BUYER'S MARKET

p

p p q q q

Homes Sold

6

Homes Sold

9

List/Sell Ratio

88% NA

List/Sell Ratio

$479,222

p

Days on Market (Active)

152

Days on Market (Active)

171

Days on Market (Closed)

145

NA

Days on Market (Closed)

316

p

Months of Inventory

4

Months of Inventory

17

QUARTER TWO 2024 15

RUTHERFORD COUNTY SALES BY PROPERTY TYPE

CONDO/ TOWNHOUSE 2 2023: 12

SINGLE-FAMILY RESIDENCE 207 2023: 189

LOTS (0–10 ACRES) 89 2023: 49

ACREAGE (10+ ACRES)

23

2023: 19

HOMES SOLD

HOMES FOR SALE

Year Over Year +69%

14 50 50 37 24

$0-99,999

$100,000-199,999

$200,000-299,999

$300,000-399,999

$400,000-499,999

9

$0-99,999

9 6 7 3 2

$500,000-599,999

34

$100,000-199,999

$600,000-699,999

49

$200,000-299,999

$700,000-799,999

44

$300,000-399,999

$800,000-899,999

45

$400,000-499,999

$900,000-999,999

24

$500,000-599,999

7 TOTAL: 209

$1,000,000+

20

$600,000-699,999

11

$700,000-799,999

MEDIAN SALES PRICE $ 275,000

6

$800,000-899,999

6

$900,000-999,999

21 TOTAL: 269

$1,000,000+

SALES PACE

Days on Market

24 157

60 60

Homes Sold per Month

2014

2019

2024

LOTS

ACREAGE

p p p p q

p q p q q

Parcels Sold

89

Parcels Sold

23

Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)

$50,231

Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)

$9,154

233 392

160 299

Months of inventory

17

Months of inventory

9

ALLENTATE.COM/WNCMARKETRESEARCHCENTER

RUTHERFORD COUNTY | QUARTER TWO 2024

HOMES FOR SALE 269 2023: 159

DISTRESSED SALES

LIST/SELL RATIO 93% 2023: 95%

CASH SALES 36% 2023: 33%

CLOSED DAYS ON MARKET 65 2023: 44

ACTIVE DAYS ON MARKET

2%

89

2023:1%

2023: 96

$0-$99,999

$100,000-$199,999

$200,000-$299,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

q

vw

p q q p p

Homes Sold

14

Homes Sold

50

Homes Sold

50

vw

q p p p

List/Sell Ratio

81%

List/Sell Ratio

92%

List/Sell Ratio

93%

p q p

Days on Market (Active)

107

Days on Market (Active)

93

Days on Market (Active)

61

Days on Market (Closed)

62

Days on Market (Closed)

57

Days on Market (Closed)

75

Months of Inventory

2

Months of Inventory

2

Months of Inventory

3

$300,000-$399,999

$400,000-$499,999

$500,000-$599,999

Home Values

SELLER'S MARKET

Home Values

BALANCED

Home Values

BUYER'S MARKET

q q p p p

p p q q p

q q q p p

Homes Sold

37

Homes Sold

24

Homes Sold

9

List/Sell Ratio

93%

List/Sell Ratio

97%

List/Sell Ratio

97%

Days on Market (Active)

96

Days on Market (Active)

87

Days on Market (Active)

73

Days on Market (Closed)

68

Days on Market (Closed)

36

Days on Market (Closed)

23

Months of Inventory

4

Months of Inventory

6

Months of Inventory

8

$600,000-$699,999

$700,000-$799,999

$800,000-$899,999

Home Values

BUYER'S MARKET

Home Values

SELLER'S MARKET

Home Values

BALANCED

p q p p p

p q p p q

p

Homes Sold

6

Homes Sold

7

Homes Sold

3

q

List/Sell Ratio

96%

List/Sell Ratio

92%

List/Sell Ratio

97%

p p q

Days on Market (Active)

82

Days on Market (Active)

124

Days on Market (Active)

118

Days on Market (Closed)

106

Days on Market (Closed)

119

Days on Market (Closed)

141

Months of Inventory

10

Months of Inventory

5

Months of Inventory

6

LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA

$900,000-$999,999

$1,000,000+

Home Values

BUYER'S MARKET

Home Values

BUYER'S MARKET

vw

p q q p p

Homes Sold

2

Homes Sold

7

q p p p

List/Sell Ratio

96%

List/Sell Ratio

95%

Days on Market (Active)

169

Days on Market (Active)

103

Days on Market (Closed)

11

Days on Market (Closed)

90

Months of Inventory

9

Months of Inventory

9

QUARTER TWO 2024 17

TRANSYLVANIA COUNTY SALES BY PROPERTY TYPE CONDO/ TOWNHOUSE

SINGLE-FAMILY RESIDENCE 123 2023: 118

LOTS (0–10 ACRES) 49 2023: 34

ACREAGE (10+ ACRES)

14

5

2023: 10

2023: 2

HOMES SOLD

HOMES FOR SALE

Year Over Year +52%

1 2

$0-99,999

$100,000-199,999

14 24 24 17 11 11

$200,000-299,999

$300,000-399,999

$400,000-499,999

0

$0-99,999

$500,000-599,999

2

$100,000-199,999

$600,000-699,999

12

$200,000-299,999

$700,000-799,999

21

$300,000-399,999

7 5

$800,000-899,999

20

$400,000-499,999

$900,000-999,999

29

$500,000-599,999

21 TOTAL: 137

$1,000,000+

13

$600,000-699,999

10

$700,000-799,999

MEDIAN SALES PRICE $ 520,000

11

$800,000-899,999

6

$900,000-999,999

45 TOTAL: 169

$1,000,000+

SALES PACE

Days on Market

32 240

40 68

Homes Sold per Month

2014

2024

2019

LOTS

ACREAGE

p p q q q

vw

Parcels Sold

49

Parcels Sold

5

q q q q

Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)

$102,336

Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)

$10,649

278 565

318 343

Months of inventory

15

Months of inventory

22

ALLENTATE.COM/WNCMARKETRESEARCHCENTER

TRANSYLVANIA COUNTY | QUARTER TWO 2024

HOMES FOR SALE 169 2023: 111

CASH SALES 53% 2023: 40%

LIST/SELL RATIO 95% 2023: 96%

DISTRESSED SALES

CLOSED DAYS ON MARKET 62 2023: 51

ACTIVE DAYS ON MARKET

0%

93

2023: 0%

2023: 107

$0-$99,999

$100,000-$199,999

$200,000-$299,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

vw

q q q p p

q q p p p

Homes Sold

1

Homes Sold

2

Homes Sold

14

q

List/Sell Ratio

64%

List/Sell Ratio

84%

List/Sell Ratio

90%

Days on Market (Active)

NA

NA

Days on Market (Active)

18

Days on Market (Active)

62

p q

Days on Market (Closed)

159

Days on Market (Closed)

68

Days on Market (Closed)

50

Months of Inventory

0

Months of Inventory

3

Months of Inventory

3

$300,000-$399,999

$400,000-$499,999

$500,000-$599,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

q q q q p

p

q p q q p

Homes Sold

24

Homes Sold

24

Homes Sold

17

vw

List/Sell Ratio

93%

List/Sell Ratio

95%

List/Sell Ratio

98%

q p p

Days on Market (Active)

88

Days on Market (Active)

82

Days on Market (Active)

77

Days on Market (Closed)

49

Days on Market (Closed)

76

Days on Market (Closed)

35

Months of Inventory

3

Months of Inventory

3

Months of Inventory

5

$600,000-$699,999

$700,000-$799,999

$800,000-$899,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

vw

p q p p q

q q p p p

Homes Sold

11

Homes Sold

11

Homes Sold

7

p p q p

List/Sell Ratio

98%

List/Sell Ratio

96%

List/Sell Ratio

99%

Days on Market (Active)

77

Days on Market (Active)

90

Days on Market (Active)

76

Days on Market (Closed)

7

Days on Market (Closed)

74

Days on Market (Closed)

11

Months of Inventory

4

Months of Inventory

3

Months of Inventory

5

LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA

$900,000-$999,999

$1,000,000+

Home Values

SELLER'S MARKET

Home Values

BALANCED

p

p p q p q

Homes Sold

5

Homes Sold

21

p p q

List/Sell Ratio

95%

List/Sell Ratio

98%

Days on Market (Active)

172

Days on Market (Active)

121

Days on Market (Closed)

42

Days on Market (Closed)

126

vw

Months of Inventory

4

Months of Inventory

6

QUARTER TWO 2024 19

YANCEY & MITCHELL COUNTIES SALES BY PROPERTY TYPE

SINGLE-FAMILY RESIDENCE 75 2023: 79

CONDO/ TOWNHOUSE 10 2023: 10

LOTS (0–10 ACRES) 28 2023: 7

ACREAGE (10+ ACRES)

2023: 3 13

Not all transactions in Yancey and Mitchell Counties may be entered into Canopy MLS.

HOMES SOLD

HOMES FOR SALE

Year Over Year +13%

3

$0-99,999

10 28 14

$100,000-199,999

$200,000-299,999

$300,000-399,999

9 8 5 3 2 1

$400,000-499,999

2

$0-99,999

$500,000-599,999

11

$100,000-199,999

$600,000-699,999

26

$200,000-299,999

$700,000-799,999

24

$300,000-399,999

$800,000-899,999

24

$400,000-499,999

$900,000-999,999

22

$500,000-599,999

2 TOTAL: 85

$1,000,000+

18

$600,000-699,999

12

$700,000-799,999

MEDIAN SALES PRICE $ 301,000

8

$800,000-899,999

6

$900,000-999,999

27 TOTAL: 180

$1,000,000+

SALES PACE

92

Days on Market

11 55

23

Homes Sold per Month

2014

2019

2024

LOTS

ACREAGE

q p q p

p

Parcels Sold

28

Parcels Sold

13

q q q q

Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)

$60,489

Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)

$7,420

148 398

148 242

vw

Months of inventory

26

Months of inventory

15

ALLENTATE.COM/WNCMARKETRESEARCHCENTER

YANCEY & MITCHELL COUNTIES | QUARTER TWO 2024

HOMES FOR SALE 180 2023: 159

DISTRESSED SALES

CASH SALES 39% 2023: 40%

LIST/SELL RATIO 94% 2023: 92%

CLOSED DAYS ON MARKET 87 2023: 86

ACTIVE DAYS ON MARKET

1%

111

2023: 0%

2023: 123

$0-$99,999

$100,000-$199,999

$200,000-$299,999

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

Home Values

SELLER'S MARKET

q

q p p q p

p q p p q

Homes Sold

3

Homes Sold

10

Homes Sold

28

p p q p

List/Sell Ratio

82%

List/Sell Ratio

89%

List/Sell Ratio

94%

Days on Market (Active)

204

Days on Market (Active)

106

Days on Market (Active)

121

Days on Market (Closed)

123

Days on Market (Closed)

73

Days on Market (Closed)

76

Months of Inventory

2

Months of Inventory

3

Months of Inventory

3

$300,000-$399,999

$400,000-$499,999

$500,000-$599,999

Home Values

SELLER'S MARKET

Home Values

BUYER'S MARKET

Home Values

BUYER'S MARKET

q

vw

vw

Homes Sold

14

Homes Sold

9

Homes Sold

8

vw

p p q p

p p p p

List/Sell Ratio

94%

List/Sell Ratio

98%

List/Sell Ratio

98%

p q

Days on Market (Active)

154

Days on Market (Active)

68

Days on Market (Active)

84

Days on Market (Closed)

85

Days on Market (Closed)

29

Days on Market (Closed)

107

vw

Months of Inventory

5

Months of Inventory

8

Months of Inventory

8

$600,000-$699,999

$700,000-$799,999

$800,000-$899,999

Home Values

BUYER'S MARKET

Home Values

BUYER'S MARKET

Home Values

BUYER'S MARKET

vw

p

q p p p p

Homes Sold

5

Homes Sold

3

Homes Sold

2

q p p p

vw

List/Sell Ratio

94%

List/Sell Ratio

100%

List/Sell Ratio

93%

p p q

Days on Market (Active)

113

Days on Market (Active)

80

Days on Market (Active)

78

Days on Market (Closed)

111

Days on Market (Closed)

10

Days on Market (Closed)

178

Months of Inventory

11

Months of Inventory

12

Months of Inventory

12

LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA

$900,000-$999,999

$1,000,000+

Home Values

BUYER'S MARKET

Home Values

BUYER'S MARKET

vw

vw

Homes Sold

1

Homes Sold

2

p p q p

p p p p

List/Sell Ratio

100%

List/Sell Ratio

94%

Days on Market (Active)

70

Days on Market (Active)

150

Days on Market (Closed)

3

Days on Market (Closed)

438

Months of Inventory

18

Months of Inventory

41

QUARTER TWO 2024 21

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