black mountain DETACHED - MAY 2 0 2 4
MONTHS OF INVENTORY 9.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 14% VS 2023
▼ 30% VS 2023
▼ 24% VS 2023
▼ 27% VS 2023
There were 72 detached listings in Black Mountain in May, 14% above April and 14% higher than May 2023.
May detached home sales decreased by 20% month-over-month, to 8, and were 27% below May 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
The months of inventory for detached in Black Mountain, at 9.0, reflected a buyers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$866,875 $890,000 9.0 8 72
11 63
-30% -24% 57% -27% 14%
10 63
-29% -21% 43% -20% 14%
The detached median price in May was $890,000, a 21% decrease from April and 24% below May 2023.
$1,224,200 $1,125,000 6.3
$1,235,127 $1,174,900 5.7
The average sold price was $866,875, 28% below last month and down 30% to May 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
43
78
72
76
66
65
40
67
65
37
63
63
60
60
56
54
16
10
10
9
7
7
11
5
5
4
8
2
8
$1.39M
$1.25M
$1.19M
$1.17M $1.13M
$1.13M $1.06M
$1.13M
$1.02M $1.01M
$935K
$890K
$819K
May-23
Apr-24
May-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
9.0
15
10
5
2.0
0.7
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
3 2 0.7
4 8 2.0
1 9 9.0
0 17 n/a
0 16 n/a
0 10 n/a
0 6 n/a
0 4 n/a
Copyright © June 10, 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of June 10, 2024. All data from Association of Interior Realtors & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 19 ●
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