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How is the Real Estate Market?
I can be at the gas station filling my tank, walking down the street, or talking to a friend on the phone and many times I hear the same question asked, How's the Real Estate Market? I usually give a fairly concise answer that it is good, bad or in the middle. But I usually don't have exact numbers in hand to offer. With all the recent shutdowns in the market place due to the Virus which shall remain nameless, I was surprised to see just how strong it has remained.
First quarter this year compared to last shows my county, Cherokee county, sales were up 4.1% Of course this was somewhat before the virus really took hold. For just the month of March, when the virus was gathering steam, sales were still up 1.5% from March of last year.
What I find very interesting is that the Average sales price of a home in Cherokee county rose 7.6% to $338,712, and the Median Sales Price rose 10% to $306,540!
While we are still seeing a good number of closings happening in the county, new listings appear to be way down. Looks like in the next several months we will run out of the ... more

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