Local interest rates are still dropping.  The combination of historically low rates and low prices on homes for sale in Murphy North Carolina and Cherokee County continues to attract buyers to the mountains.  August sales matched those of a year ago with 36 homes sold and 28 more going under contract. 

           gaph showing number of homes sold month by month

September's closed sales were down over those of a year ago, however the number of homes going under contract was basically the same as in August.  There were 23 home sales in September, 2010 compared to 34 in September of 2009. 

Inventory remains lower than it was earlier in the year.  In August, there were 831 homes for sale in Cherokee County and as of October 1, there were 823 active listings.  In August, 84 new listings came on the market.  For September, there were 91 new residential listings.  

Surprisingly, the number of foreclosures remains low.  There are currently 29 homes on the market that are foreclosures in the Murphy North Carolina area, making up only 3.5% of our total inventory.           

Here is the current breakdown of homes for sale in Murphy North Carolina for August and September:

                                              August                     September

  • New listings                       84                         91                 
  • Sold                                    36                       23 
  • Pending                                28                        27 
  • Expired/Withdraw            104                      77 

 Homes for sale in Cherokee County as of October 1, 2010 - 823

Mortgage money is available from local lenders at very attractive rates.  One of my buyers closed on a home in August and got a fixed rate of 3.875% for a 30 year loan.  Individual buyers may be quoted rates even lower than those posted below, depending on credit score and amount of down payment.  

Here are the interest rates advertised by Macon Bank in Murphy as of October 4, 2010:

               30 Year Fixed Rate

  • 4.0% with 1.0 discount points and $0.00 rebate
  • 4.125% with 0.5 discount points and $0.00 rebate
  • 4.25% with 0.0 discount points and $0.00 rebate

    20 Year Fixed Rate

    • 3.875% with 1.0 discount points and $0.00 rebate
    • 4.0% with 0.5 discount points and $0.00 rebate
    • 4.125% with 0.0 discount points and $0.00 rebate

    10 Year Fixed Rate

    • 3.25% with 1.0 discount points and $0.00 rebate
    • 3.375% with 0.5 discount points and $0.00 rebate
    • 3.5% with 0.0 discount points and $0.00 rebate

    • Looking for your dream getaway in the mountains of Murphy, North Carolina? Visit the Country Homes & Land website to see all the latest listings.

    Enjoy a preview of our scenic mountains by viewing this youtube video "Murphy Mountain Nights."

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    This post has been included in North Carolina Real Estate News Cherokee County, NC Real Estate News Murphy, NC Real Estate News
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    Kate Wheeler CCIM Murphy NC Real Estate for Sale

    Murphy, NC

    More about me…

    Country Homes and Land Murphy NC Realtor

    Address: 980 Hwy 64 West, Murphy, NC, 28906

    Office Phone: (828) 837-9989

    Cell Phone: (828) 361-1142

    Email Me



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