Jump to Lots & Land Commentary
Commentary - Homes
Homes - Supply & Demand: A combination of
large inventories, aggressively low buyers, and anxious sellers will
keep downward pressure on prices. Unit sales in 2011 barely
exceeded 2010. Demand over $275K
remains thin, and demand of all types falls drastically as one moves
farther from Asheville.
Subdivisions: Sellers of homes in
subdivisions are at a greater disadvantage among buyers. This
type of listing accounts for 61% of homes for sale, but only 40% of
homes sold. The Wolf Laurel Resort for example, accounts for
almost 33% of homes for sale in Madison County, but makes up only
15% of County wide sales.
Future: Many listings have expired or been
pulled from the market on 12/31/2011. If and when
these sellers renew their listings, inventory will rise, while many
additional private sellers wait in the wings. These factors
lead us to conclude that it will be 2013 before inventory
legitimately begins to decrease.
Commentary - Land
Demand for Land: Since last months of
2010 land sales have been driven by distressed prices.
This trend accounts for just less than half of 2011 land sales.
The impact on average prices is obvious. There are numerous
land listings at high elevation with views listed at less than
$10K/acre.
Subdivisions: Sellers of land outside of
subdivisions face added problems with buyers. This group
accounts for 40% of all listings, yet comprises only 10% of land sales.
This yields an effective supply of unrestricted land at around 17.1
years.
Future: Inventory listed on the MLS stands at
roughly 10 years of supply for all types of land. As with
homes, many parcels expired and await renewal.
Others wait in the wings before listing. With continued lack
of interest from buyers, the land market is destined for many years
of disarray.
Browse
All County Homes & Land Listings By Price Range and Town
PDF's: Issued in Arrears Local MLS
Madison Inventory of Homes by Price Range:
12/31/11
Madison Homes Sold by Price Range:
12/31/11
Madison Homes Sold Avg-Median Prices:
12/31/11
Madison Land Sold Average/Median Prices:
12/31/11
Madison Land Sold by Price Range:
12/31/11
Browse
All County Homes & Land Listings by Price Range and Town
Source: Regional MLS, deemed reliable, not
guaranteed.
Big Picture Chart Archive:
Previous Charts Located Here.
Back to Top
Copyright, Black Bear Realty, Inc, all rights
reserved. Reproduction, redistribution in any form, even for non
commercial purposes, must be done with permission and attribution.
Thank You.
Contact:
Info@BlackBearRE.com
.jpg)
.jpg)
