Henderson County Market Update
June 3, 2014 Henderson County Market Update
We have had a great month in May with the number of homes that sold at 157. This is the second month of numbers this high, with April at 159 homes. Last year the May numbers were high, at 159. Below are the numbers since 2004, so you can see the 'Boom' years, the fall, and now the rebound. We have seen 14 months of solid growth, which is a very positive sign.
While we are talking numbers, another detail to look at is the number of days a home stays on the market. With this monthly chart you can see the numbers, still a sporadic cycle of ups and downs. May was no different, dipping to 173 from April's 205 days. As you can see from the chart, the numbers look a bit like a roller coaster ride. As more homes sell, this could clear up, and lower numbers can be coming up once again.
The Median Price a home sells for dipped a bit this month at $185,000 down from last months $202,000, and last May's $195,000. But overall we are seeing a nice movement upward, albeit gradually.
A good indicator that the market is improving is the List to Sell Ratio. We are seeing the numbers rise this year and hold, which is excellent news for sellers. The list to sell ratio represents the percentage a seller receives of the last price that the home is listed for. May closed with a 96% List to Sell Ratio, which is the best we have seen in a very long time. This year we have seen better numbers, and they have held the last six months, giving sellers a bit more money in their pocket at closing.
Currently we have a 14.7 month supply of homes on the market. The majority of homes were sold via conventional loans and cash sales. There were 13 VA and 8 USDA loans. Two homes were Owner Financed.
For more information on the local market, give Rhonda a call.
(828)243-9811
*These numbers were pulled from the local MLS
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