It’s been a while since the last market report, and its time for a new one! The market has remained incredibly stable with little to no changes in numbers. We’ll have a quick uptick followed by a leveling back to previous transaction amounts. There are some outstanding values in homes on the market right now, and watching them on the market has been quite interesting.
As far as straight numbers for the Cherokee County marketplace across the Mountain Lakes Board of Realtors, here they are:
- 15 Homes have sold in the last month – that’s one every other day!
- There are an astounding 908 opportunities to buy a home on the market currently
- $165,247 is the average sales price over the past month
- 94.5% is the average list to sell ratio (think: on average, if you have a $100,000 house, it would sell for $94,500.)
- $300,000 is the highest sales price in the past month
- 212 Days on market – the current average time to sell your home in Murphy, NC
- 10 Parcels of land have sold int he past month
- 2,669 total opportunities to buy land on the market currently
- $42,700 is the average selling price of land
- 85.47% is the average list to sell ratio
- 413 days is the average time on the market for land
Land has been a particularly interesting case because there are usually 50% more transactions than homes, yet now, it’s that much lower. Quite the switch! Based on the research I’ve done, it largely seems due to the great home values on the market. Many people are skipping the building process and going straight for buying a home because they can buy now for less money than they can build.
Are you considering selling your home and want to find what all this means to you? Find the value of your home in Murphy, NC by completing this form and we will evaluate your home for free!
Call Toll-Free 1-866-687-7496 and demand The POLTROCK TEAM!! www.MyMurphy.com – Homes and Land for Sale in the Mountains of Murphy, NC – RE/MAX Mountain Properties
You can read our Previous "State of the Market Addresses" Murphy NC Real Estate Market Reports by clicking the link.