NC High Country Market Real Estate Update - June 2017

Sales Remain Strong

After last year's record-breaking volume, our NC Mountain market remains strong with a 9.3% volume gain, driven by modest price increases.

Growth Areas:

• Blowing Rock continues to be the standout town in this area, with a 36% increase in homes sold and an even larger increase in volume from sales at higher price points.
  
• The luxury market (homes S750K and above) is off to a stronger start in the first half of the year and is a driver of market growth. There continues to be a huge inventory in the luxury segment, making this area attractive for high-end buyers.
  
• There has been a surprising uptick in Condo sales in 2017, with the number of condos sold increasing by 34.5%. Currently, there is very little inventory of student condos around the Appalachian State University area.

Inventory:

As a primarily second home/resort area without large industry, we are not facing the chronic inventory shortages seen throughout most US markets. This gives buyers a little "breathing room' in making plans to visit homes. However, homes in key desirable segments (e.g. mountain homes with big views under $450K) are moving quickly, sometimes with multiple offers.

From a seller's standpoint, pricing right from the beginning is key to having your home considered by increasingly savvy buyers. Because there is a larger inventory, having a compelling listing with excellent photography showing off all attributes of the home is very important. Buyers want to fully understand the home through the listing before they visit.

Contact Leslie Eason, [email protected], to learn more about the NC High Country Real Estate Market