Home Sales in Haywood County

I thought I would go over a few key points from February 2022 home sales in Haywood County.

In February 2021 we had 104 new listings on the market.  This year in February, we only had 74 new listings on the market, a drop of almost 29%.  In February 2021 we sold 77 homes, but this year we only sold 72 homes, mostly a result of lack of inventory from which to sell.

The average sales price of homes in the county rose from $293,216 in February 2021 to $362,079 this year, an increase of 23.5%.  In February 2021 the days on the market until a sale was 51.  This February the days on the market until a sale was only 32 days.  A decrease of over 37%.

Our total inventory of homes for sale was 211 in February 2021.  This February our total inventory of homes for sale shrank to 120, a drop of 43%.  A “balanced market” in real estate is usually considered balanced when there is about a 6 months’ supply of homes. That is if no new homes came on the market, how many months would it take to sell the current inventory of homes.  At the end of February, we only had a one-month supply of homes on the market.  That puts us in a very hot sellers’ market.

Many homes are going under contract within 2 to 4 days after being listed.  This is great for the seller, but not so great for the buyer.  When 5 or 6 offers are received on a home, only one can be accepted.  That means 4 or 5 buyers will be frustrated they did not get their offer accepted.  If you are considering selling your home, please contact us.  We can explain the process and guide you to a successful sale.  If you are considering buying a home, please contact us.  We can help you navigate this hot market.

Statistics are from our Canopy MLS Local Market Update for February 2022