Once again, April home sales are up over those of a year ago in the mountains of Murphy, North Carolina and Cherokee County, continuing the trend that began here last fall. The combination of low prices and historically low interest rates continues to entice buyers to make the move to our mountains.
There were 24 sales and 22 pending contracts written in April. Inventory remained constant, with 99 homes sold, pending, withdrawn or expired, while 99 new listings were posted for the month.
Homes in the lower price range continue to outsell the more expensive listings, with 20 of the 24 homes selling for $175,000 or less. Here is the current breakdown of listing activity for the month of April:
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- On market - 602
- New listings - 99
- Pending/Sold - 46
- Expired/Withdrawn - 53
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There were 800 homes for sale in Cherokee County as of April 30, 2010
Statistics taken from Mountain Lakes Board of Realtors as of May 3, 2010
Mortgage money is available from local lenders and interest rates are holding steady for now, although most economists predict that the rates will begin to rise in the coming months. Here are the interest rates advertised by Macon Bank in Murphy today:
30 Year Fixed Rate
20 Year Fixed Rate
15 Year Fixed Rate
10 Year Fixed Rate
1 Year Adjustable Rate
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