Real Estate Recap June 2024

Overall, most of the trends observed in the May 2024 numbers also carry through to the June 2024 numbers.  Sales continue to be off a bit from June 2023, and the inventory of homes for sale continues to be slim, although improving.  The median sales price increased again, but the average sales price only increased minimally.  (This could be the result of selling a significant number of more expensive properties.)

Below are the key numbers for June 2024 compared to June 2023 for Haywood County, NC:

New listings increased to 148 for a 22.3% increase.

Pending Sales increased to 102 for a 24.4% increase.

Closed Sales decreased to 70 for a 35.2% decrease.

Median Sales Price increased to $427,195 for an 8.8% increase.

Average Sales Price increased to $482,510 for a 1.4% increase.

Average List Price of new listings increased to $503,213 for a 7.3% increase.

Inventory of Homes for Sale increased to 317 for a 31.0% increase.

Months’ Supply of Inventory increased to 3.8 months for a 40.7% increase.

As I pointed out in the beginning, sales continue to drop a bit and inventories continue to rise.  Even though we now have a 3.8 months’ supply of inventory, this is significantly lower than a 5 to 6 months’ supply, which is considered a “balanced market”.  (In a balanced market there would be an almost equal number of buyers and sellers.)  We have been in a “sellers’ market” for some time now.  However, with sales falling slightly, and inventories rising, I believe we are heading for a more balanced market.

Please let us know if you have any real estate questions.  Whether you are a seller, or a buyer, we can help!

Thanks to Canopy MLS Local Market Update for June 2024 numbers.