Brevard NC Market Report - March 2011

Spring has come to the mountains of western North Carolina, along with a modest increase in real estate sales activity. 

In March 2011 there 28 single family residential closings in Transylvania County, compared to 15 the year before. One home sold in the $1M+ price range but the majority of the sales were in the $100K - $300K price range with activity in the $300-$400K range lagging only slightly behind, a trend that has been consistent in our market for the past two years. We believe the increase in sales may be due in part because prices continue to adjust downward and motivated sellers are accepting lower offers. For the first three months of the year, the average selling price was $215,077. For March the average listing price for homes was was $307,348. and the average selling price was $263,070 or roughly 86% of asking.

Land sales in the Brevard, NC area have seen the same sort of adjustments. There were 7 land closings during the month and 6 of those were under $100K, closing at roughly 77% of the asking price. Typically, the winter months are the slowest time of the year for real estate sales in the area and this is especially true for land. Temperatures are warmer and the trees haven't filled out completely, so this time of year is perfect for looking at your options in raw land.

It is, without any doubt, a buyers market in the Brevard area and there are exceptional opportunities for anyone interested in buying a home, investment property, a vacation home, or land.  To learn more about homes and land for sale in Brevard, North Carolina, contact the Keller Williams Clay Team today! Visit online at BrevardNCProperty.com or at ClayTeam.KWRealty.  Email us at carolclay@kw.com or robertclay@kw.com. Or call 828-551-6291 or 828-551-6290.  If you are interested in buying homes or land in the Brevard, NC area, be sure to ask about our automatic listing updates.