Greetings,
Hope everyone is happy to have kids back to school and back in a routine. This summer was great, but I always love the fresh start of a new school year to help everyone get excited about what they want to accomplish before the end of the calendar year.
I went ahead and took some time to look at our local real estate market to give you an idea of where we have been and where we might be going through the rest of 2022.
Since late May, our local real estate market has been shifting and trying to figure itself out. Here are some tidbits you might find interesting:
- There are still not enough homes on the market for potential buyers as that latest statistics show there is only 1.4 months of inventory on the market as of 7/31
- The Average Sales Price in The Catawba Valley Region is +15% at $319,333
- Last July homes received 100.2% of original list price and this year it is at 98.2% (still good but shows that sellers are having to be a little more flexible)
- Cumulative Days on the Market is flat at 20
My opinion on where we stand is that well priced homes are selling as quickly as ever but price appreciation may be flattening out. The rise in interest rates have slowed demand slightly but it has also stopped people from putting their homes on the market thus keeping supply low. If the rise in interest rates can top out in the 6% range where they seem to be now, I think we will muddle along though fall. If it goes much above 7% then I think the market will freeze a bit and maybe contract.
A good rule of thumb for sellers, if you want or need to sell make sure you do not over speculate on the price and make sure the house is in tip top shape and you will likely have no problem selling.
If you are a buyer and see a house on the market for more than a month. Talk to your agent to see if that home might be more flexible in price or terms.
This is when you need the guidance of an agent are than ever so feel free to give its a call or reach out and we can help you set a strategy. Let us know if we can help you with any of your real estate needs.
Talk to you soon,
Mike Kelly Jr.
President
|
|
 New Listings
|
|
|
~ click each picture for more information ~
|
|
If you are ready to buy a home,
you need to be ready to jump on the right home as soon as it comes on the market.
If you need a mortgage professional, reach out to
Rachel Artinian
with Ownership Mortgage
to get pre-approved.
|
|
|
|
Building Lots For Sale
|
|
|
~ click each picture for more information ~
|
|
|
New Construction Homes
|
|
|
~ click each picture for more information ~
|
|
|
Under Contract Homes
|
|
|
Homes we market For Sale are going Under Contract very quickly.
Let us get you moving!
|
|
|
~ click each picture for more information ~
|
|
|
Sold Homes
|
|
Thinking about SELLING YOU HOME? We want to help.
Now is a great time to put your home on the market.
Inventory is low and buyers are highly motivated.
CALL 828-328-9540 to speak to an agent.
|
|
|
Financing Questions
|
|
How much house can I afford?
What will my monthly payments be?
Are interest rates going up or down?
How do I figure out my credit score?
Do I want to get an adjustable rate mortgage?
How much do I need for a down payment?
For answers to all of your financing questions contact Rachel Artinian
by clicking her contact card, below.
|
|
|
|
Thinking About a Career Change?
|
|
|
We did a quick video showing what our agents think about
working at Hickory Real Estate Group.
If you ever thought about getting into the real estate business or are an agent that feels stuck at your current firm, send us a message or give Mike a call at 828-234-0479 to set up a confidential meeting and discuss your future.
We specialize in working with Provisional Brokers
and making sure they are fast tracked to be successful.
|
|
Let Hickory Real Estate Group
help you with your home buying
and selling needs
828-328-9540
 Let's get you moving . . . |
|
|
|
|
|
