The real estate market in western North Carolina, specifically the Brevard area, is very seasonal and typically ebbs and flows in synch the visitor industry. Season will begin in the spring, usually around May, followed by a peak during the summer months. Business slows after the kids start going back to shool but peaks again during the leaf season. After Thanksgiving, or the end of leaf season (whichever comes first), the streets are quiet until the following spring when we ramp up once again.

This year has been no exception and while the overall numbers are reflective of the downturn in the economy, the pattern is the same.

In June there 25 residential closings, a marked uptick from May when there were only 14 homes closed.  For the first time since February, homes in the $200K to $300K price range outpaced any other bracket with a total of 9 closings. In the $100K-$200K range, the numbers dropped off slightly from 9 closings to 5. There were 5 closings in the $300K-$400K range, the most significant increase in that price range since October 2008.  Two homes closed in the $400K-$500K range, an increase from the month before. And 3 homes closed in the $500K and up price range, marking the best month in that price range since December 2008.

As a result, the average closing price in June increased to $292,280, a 42% increase over May. It is also nearly a 13% increase over June 2008. The median price was $274,000 for a 39% increase over May and a 29% increase over the same time last year.

For more information about homes and land for sale in the Brevard, NC area, visit the Clay Team online at brevardncproperty.com, or call 828-551-6290/551-6291.