Real Estate Recap December 2024

Below are the numbers from December 2024 for Haywood County in Western North Carolina:

New Listings increased 6.8% compared to the previous December (2023).

Closed Sales increased 15.9% compared to the previous December.

The Median Sales Price increased 5.5% from the previous December to $400,000.

The Average Sales Price, however, decreased 5.8% from the previous December to $426,887.

Percent of Original List Price Received decreased 1% to 93.4% compared to the previous December. (This would indicate that sellers may be a bit more inclined to negotiate prices.)

Days from Property Listing to Closing increased 56.4% compared to the previous December.  (In December 2023 properties closed in 78 days from listing.  This year that time increased to 122 days.  Propeties are staying on the market longer before receiving offers.)

Cumulative Days on the Market Until Under Contract increased 73.3% from the previous December.  (In December 2023 the average property went under contract in 45 days.  In December 2024 the average property was on the market 78 days before going under contract.)

The Average List Price of Homes going on the market increased 16.7% from December 2023 to December 2024.  The average was up to $474,141.

Our Months’ Supply of Inventory was 3.8 months in December 2024 compared to only a 2,5 months’ supply in December 2023.  We have been experiencing a shortage of homes on the market as many sellers are reluctant to sell and lose their low interest mortgages.  We are still in a sellers’ market as inventories are short.  Inventories had been rising since June 2024 but fell again in December 2024.

Please let us know if you have any questions about selling or buying a home.  We are here to help!