July State of the Market Address

Very few agents track the market and find out what it is truly doing. As a result, investors, buyers, and sellers of real estate here in Murphy, North Carolina don’t know what the market is doing. Here are numbers to give you a great overview of what is happening on homes/houses that have sold.

This data is done with a four month trailing average to give you the most accurate monthly data rather than show simple sudden influxes, etc.

Closings per Month Average List Price Average Sold Price List to Sell Ratio Average Days on Market
Whole Market  26 $213,459 $202,414 95.01% 168
150k-200k 12 $182,600 $175,000 96% 150
200k-250k 5 $224,480 $216,000 96% 145
250-300k 4 $286,000   $269,000 94% 126
300-350k 2 $369,450 $337,500 91% 181

What does all this mean? You can relate it specifically to your home or land that you own when you look to sell it. This data can be difficult to translate to your specific property. If you are looking to sell, a site visit by one of us would be most appropriate. We would be happy to consult with you on this. Please contact us be email or phone.

John Poltrock – RE/MAX Mountain Properties – Murphy, NC – www.MyMurphy.comJohnP@remax.net – (877) 837-3002

*Note* This data was compiled on July 26th, 2007 and used the 4 month trailing data from that day.