October 2022 Market Update
The October data is in - All signs point to a slightly cooling market, just like the weather.
The Median Days On Market in October was 14, compared to 7 a year ago. That's a huge jump. However, let's keep some perspective here. The AVERAGE Days on market for all price points in October was 37. In 2019, the average days on market for Buncombe County was 80, and prior to then, the lowest number we've seen in the last 20 years was 72 in 2017. The speed of the market we've seen since mid-2020 is astounding.
What we're seeing now is the housing market getting pulled back to a more balanced, normal pace. It's still a fantastic time to sell, even with the holidays coming. Just like showing houses in the rain, we know serious buyers keep their searches active during the holiday season.
If you're a buyer, now is also a great time to buy. One number that is not decreasing from years past - and probably won't - is the average sales price. If you wait, you'll likely be paying a higher price for that home after the new year, and beyond.
And, we hear what y'all are saying about interest rates, and we have options. We work with several local lenders who have educated us about temporary rate buy-downs and we'd love to tell you more about that and other creative financing. Give us a call today at (828) 771-2339 to chat with one of our agents or click here to book an appointment!
