It’s been some time since I’ve done a market update on the Cherokee County (Murphy and Andrews) real estate market because the market has been staying so incredibly stable. Now with January past us, I can report on the typical seasonal cycle of the market.
Historically, the market is relatively calm during January, February, and March. We’ll see an it trend back up to normal around the middle of April. With all that said, here’s some hard numbers that are great to go with! Remember – these numbers can be difficult to translate to your particular situation, so the advice of a professional is recommended (namely The POLTROCK TEAM!) to interpret them.
Numbers for the Past Month
- Total Homes to close: 14
- Total Land to close: 28
- Average Home Price: $194,029
- Average List to Sell Ratio: 91.95%
- Average Days on Market: 226
- Most Active Price Point: $150,000 – $200,000 (representing half the transactions)
- Average Land Price: $39,532
- Average Land Days on Market: 170
- Homes currently Pending: 94
- Land currently Pending: 203
Our market seasonally dips down during this time of year, so don’t expect a lot of showing activity during the cold months! Stay home, stay warm, and keep your place clean! Fact is, even though you might not be getting a lot of showings on your house, the buyers out there shopping this time of year are typically more qualified and more motivated to buy. Why? Maybe because they don’t want to stay out in the cold!
Those of you who are looking to buy homes and land, now is the perfect time! If you can make it our way, you don’t have a lot of “competition” this time of year. In other words – you probably won’t have to worry about someone slipping in and buying your dream home! Not only that, sellers are commonly more negotiable during this time of year because the activity on their property slows down.