February 27th Murphy NC Real Estate Market Update and Report

TGIF! Thank God it’s Friday! We hope you all have a wonderful weekend planned – and hopefully it won’t be rainy! It’s scheduled to be an 80% chance of raining all weekend here in Murphy!

 There’s a lot of activity and bustle in the real estate world right now! The Cherokee Hills Golf Course is on schedule to be bought by FJ Investments and totally renovated. It is scheduled to close mid-March, which is just around the corner! Frank Johnson (the sole owner of FJ Investments) is in our office practically everyday making plans, scheduling, and all that goes along with his new project. That will create a lot of jobs and excitement in our area!

 On to real world real estate! The average sales price of homes for the past 14 days is at $169,167 with an average days on market of 181 days! NICE! Days on market appears to be falling a bit with the past few closings (the past 30 days has averaged 198- the lowest we’ve seen including all of last year).

Of those homes sold, there’s an astounding 4 that were foreclosures, which (to the best of my knowledge) makes the highest record of foreclosures sold in this time frame. There’s a lot of opportunity for buyers out right now! There’s no doubt about it, it’s very important for sellers to price their property accordingly to combat the constant challenge of increasing foreclosure inventory. Thankfully we’re no saturated with them!

If there’s anything we can do for you, please don’t hesitate to let us know! We’re in business for you and are very thankful for you! We’d be happy to answer questions or concerns you may have and/or make changes to your listing whether it be pricing or another strategy.

 Have a blessed and safe weekend!

 John Poltrock