As the second installment of the State of the Market, we venture
into what has happened in the month of June for the market here in
Murphy. North Carolina has been overall very fortunate in its ability
to retain a stable market in relation to many other states – especially
Florida. The majority of our second home buyers come from the Florida
area, and we have seen an indirect effect on our market. Many of the
younger investors from Florida who made significant amounts of money in
real estate have been tapering off. We’ve seen the “normal” buyers who
have historically bought vacation and full time residences in both
Murphy and Andrews coming back and regaining their strength as our
In a brief summation, there were 144 total
transactions that were not a result of hand-me-downs, quitclaims, or
other non-cash transactions. Of those 144 transactions, land
represented 87 total and homes were 57. Land was down by six
transactions while homes were up by 10 transactions from May. 28
homes and 36 land tracts were transferred by the Mountain Lakes Board
of Realtors. From May, we have seen a 2.9% increase in total transfers.
From the beginning of the year, we’re at a 9.1% increase.
is turning out to be an excellent real estate year. Historically, our
numbers are up significantly even though some consumer confidence seems
to be flaky. What I find
to be one of the most interesting factors is that the largest real
estate investors are buying while the market is staying “down.” They’re
going against the grain and are going to find the greatest increases in
their investment when buyers begin to come back in full force.
Murphy is small drop in the bucket in America’s real estate market,
it’s great to see the media is over exaggerating the results of the
market. I’m sure many other agents and investors are experiencing and
finding these same results. For those of us who enjoy and love what we
do, this market will prove to be an excellent change of pace and a challenge that we are sure to enjoy.