State of the Market Data for Cherokee County and Murphy North Carolina

Posted by I Love Murphy on

The real estate market is still one of the most talked about things in our country today. Every time you hear the sky is falling, but many of the nay sayers and media moguls don’t mention hard numbers to tell you what the market is doing. That’s what we’re here for! We want you to be an informed consumer, whether you’re buying or selling.

Here’s some hard numbers. The below chart represents four month trailing data for the Cherokee County Housing Market. It does not represent land. Trailing data is great because it averages out the most recent transactions to give you the most stable data. If you’re not sure what some of the abbreviations are below, see the key at the bottom of this article.

Current Market Data Powered by the Poltrock Team at REMAX of Murphy North Carolina

Price Range Transactions/mo. DOM Short DOM Average DOM Long L/S Ratio
Market 31.5 19 195 958 94.44%
150-200k 9.5 19 175 406 95.15%
200-250k 3.5 33 230 700 97.22%
250-300k 4.25 46 197 448 92.07%
300-350k 2 57 199 364 94.1%
350-400k .75 53 138 191 93.75%
400+ 1.75 33 114 186 92.49%

Now here’s something quite interesting. Here’s the data for the past month only:

Transactions/mo. DOM Short DOM Average DOM Long L/S Ratio
Market 43 37 232 958 93.17%

The variance in the 4 month trailing versus the 1 month numbers indicate we’re seeing more property move for the last month. That’s obvious. What is interesting is the DOM is much higher indicating we’re going to see that continue to get longer. Also, the List to sell ratio is over a full point lower. That generally shows me that more buyers are “fishing” for good deals (why transactions are up) and in some cases are getting it (which is why the L/S ratio is lower).

Either way, numbers are power! Want to know how this applies to your property or one that you are considering buying? Call us or email and we would be happy to provide you a free consultation to translate all this information to your situation. Happy buying and selling!

Understanding local market data gives you a real edge. If you’re buying or selling, let us help—and explore things to do in Murphy NC while you’re at it!

John Michael Poltrock – REMAX Mountain Properties – Real Estate in Murphy North Carolina, NC – www.MyMurphy.com -JohnP@remax.net – (877) 837-3002 – Copyright 2007

July State of the Market Data

Posted by I Love Murphy on

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 Market 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.

Accurate market data empowers better decisions. Let us interpret what it means for your property—and explore things to do in Murphy NC while planning your next move.

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

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