It’s official! I have completed the Murphy NC Real Estate Market Statistics for 2013, we have some great information to share with you! The market showing signs of healing and there’s good news abroad. We send out our SOLD Real Estate Update every 3 months, so be sure to join our update for this information, exclusive market research, and all the SOLD real estate for that quarter – including pictures, prices, and more!
Recent Murphy Area Statistics courtesy of Phyllis Blackmon of the Cherokee County NC Chamber of Commerce:
•$35.3 Million were spent in Cherokee County by tourists in 2013. That’s up 4.2% from 2012.
•Those dollars are directly responsible for approximately 290 jobs.
•Where did they come from? Great question! Based on Chamber of Commerce records:
•37% are from FL
•13% come from GA
•7% come from NC (outside of Cherokee County)
•3% from AL
•2% from foreign countries
•October is the most recent published unemployment numbers and it is down to 9.5%. That is down substantially from a high of more than 16%.
In the real estate world, 2013 provided the best market we’ve seen since the “boom.” 449 homes sold in 2013, which is 30.9% more than 2012, 53.2% more than 2011, and 61.5% more than 2010. That is huge improvements! You’ll see the figures and sales in the attached chart which includes monthly sales and a chart so you can see activity by each month. It’s a great way to notice trends of which months are busiest. Bear in mind the activity reflects contracts from 30 days earlier. So a closing in March most likely originated from February and so on.
You’ll also notice little change in the average price of houses that are selling. This chart indicates the price point of the average buyer is purchasing at. Even though this number continues to stay at the same levels, we’ve noticed substantially more home sales in most every price point of the market place, including the $200,000+ range. That particular segment of the market struggled for several years to have sales of any volume and we have seen more than in any year since about 2008/09. That’s great! And one question that always still looms is regarding foreclosures. There are still foreclosures in the marketplace, and they currently make up only 17.7% of house sales. The rest are traditional folks selling their property.
CLICK HERE to Subscribe to Our Quarterly SOLD Update! When you’re a subscriber, here’s where you would see ALL the houses that sold.
Land sales continue to remain on par with what they have for a number of years now. Each quarter average between 9-14 sales per month while inventory remains high approaching 800 parcels available for sale. Even at that, inventory has reduced substantially from a high of 2,701 parcels in Q3 of 2008. As time moves on, this market will rebound especially as house prices recover/rise or if available inventory isn’t desired and building becomes even more attractive.
Click Here to Subscribe to Our Quarterly SOLD Update! When you’re a subscriber, here’s where you would see ALL the land that sold. Pictures, prices and more are included!
Status of RE/MAX Mountain Properties and The Poltrock Team
It’s been an exciting year at RE/MAX! We’ve had several developments over the year. Here’s some great facts:
•RE/MAX Sold 310 transactions making up 35.47% of the local real estate market! That’s way more than any other company. See REMAX Market Share Report 2013 for more details.
•The Poltrock Team sold 91 transactions in 2013, 71 in 2012, 64 in 2011, and 59 in 2010. That’s impressive considering the average Realtor closes only 12.
•We recently welcomed Donna Srabian as The Poltrock Team’s Buyer Specialist. She works only with buyers to focus on selling your property! She’s excellent.
•Want to hear what folks are saying about us? Check out our Testimonials.
We very much appreciate your business and thank you for the opportunity to work for you. If you are considering selling your property and would like to know what the impact of today’s market is on your specific property, contact us today! I hope you’ve enjoyed our SOLD Real Estate Update and don’t forget to subscribe to our update to receive our EXCLUSIVE market statistics too!