Greetings from Asheville, North Carolina. This is a summary of how Asheville Real Estate is doing in the month of January 2010. Please open the file at the link below. See my views below.
20100131 tmo-nc-asheville real estate buncombe county.pdf
How to read the Total Market Overview:
This is the Buncombe County TOTAL MARKET OVERVIEW. It shows what is going on in the Asheville Real Estate market. As you review the information you will see that it is broken down into price ranges. This in turn provides us with an understanding of how the no market is like the local market. What is said about real estate in Asheville could be completely different if you are talking about $500,000.00 property verses a $150,000 property.Notice how high the pending ratio is. When we see 25% we are looking at a sellers market. Below 25% we are in a buyers market. The Absorbtion rate is a trend number. It indicates weather the market is heating up or cooling off. You will notice that the numbers rise as you go up in value. These numbers tend to be affected by seasonal events. January being the worse month of the year typically.
The Asheville Real Estate Market My View:
The Asheville Real Estate market will continue to improve in the lower markets price range 0 to $250,000.00. This is because of the availability of financing from FHA and USDA. These Government programs are continuing to be available and are the only source of financing with down-payments below 20%. Typically 0 down with USDA and 3.5% down with FHA. There will be an adjustment which will occur after May after the tax credit comes to an end. The practical effect being that closing must occur by June. After May numbers will begin to change based on serious buyers who are not affected by the tax credit. The upper price ranges will continue to remain slow due to the need for more down-payment.
If you would like more information about the current market and specifically your market please call me. Robert Karsten Keller Williams Professionals86 Asheland AveAsheville, NC 28801
rk@rkSells.com
828-231-3348 cell/office
866-313-5703 fax
Market Click to learn what homes are selling for in your neighborhood.
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