CAROLINA MOUNTAIN SALES 2020 ANN UAL AREA MARKET REPORT
NTAIN SALES A Wilkinson �
COMPANY
TABLE OF CONTENTS 2020 Asheville Real Esate Year in Review
Letter from our Broker-ln-Charge..........................1 Asheville City Residential..................................... 2-3 Buncombe County Residential............................4-5 Company Highlights ..........................................6-1 O
a as reflected in the EALTOR® for more
CAROLINA MOUNTAIN SALES
REAL ESTATE YEAR IN REVIEW
2020
Friends, Clients, Colleagues, 2020 has been a year of change and has presented us all with unforeseen challenges. It has also been an opportunity to show others what makes us strong-being in the service of others and giving back to our communities. This year has brought about so much change and in the process, has reaffirmed our commitment to our profession. As the impact of COVID-19 continues to unfold before us, our hearts go out to the many people around the world who have been affected. Despite the record-breaking sales of 2019, 2020 finished the year on a similar trajectory of sales success. The Asheville area market continues to experience a shrinking inventory across most price points. As inventory depletes, the growth of the average sales price continues to rise due to demand. Again in 2020, we continue to acknowledge and recognize the hard work and ambition that placed even more of our Sales Associates in the Top 100 Producer category for the year! What to expect in 2021? We'll continue to see the effects of a housing market in the midst of a pandemic. Increased buyers in our local market, many coming from out of state due to climate relocation, retirement, or just buyers seeking more space and a slower pace than that of larger metro areas. The low interest rate also accounts for an increase in buyers, ideal for first-time buyers and our ever-expanding millennial market. We expect this to continue and Asheville to sustain a demand for housing throughout the year. You may have questions about making a move, what your home might be worth, and what is involved in putting a home up for sale. Let our knowledgeable and experienced Brokers and REALTORS ÂŽ here at Carolina Mountain Sales walk you through the entire process. We are always available to answer any questions you may have. Once again, thank you for the opportunity to serve you.
Amanda Holland Broker-In-Charge Carolina Mountain Sales
CAROLINA MOUNTAIN SALES 2020 REAL ESTATE YEAR IN REVIEW
ASHEVILLE CITY
AVERAGE DAYS ON MARKET : AVERAGE SOLD HOMES/ CLOSED SALES: MEDIAN SALES PRICE (SFH & CONDO): AVERAGE MONTHS SUPPLY:
RESIDENTIAL
AVERAGE PRICE PER SQUARE FOOT:
100
Average Days on Market
75
50
25
2015
2016
2017
2018
2019
2020
100
List Price to Sales Price Ratio
75
50
25
0
2015
2016
2017
2018
2019
2020
400,000
300,000
Median Sales Price
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2015
51 2,334 $354,000
3.02 $232.09
• -22.73%
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2.91% 11.32%
• -26.16%
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6.81%
CAROLINA MOUNTAIN SALES 2020 REAL ESTATE YEAR IN REVIEW
ASHEVILLE CITY RESIDENTIAL
Cont'd.
2,500
2,000
Closed Sales
1,500
1,000
500
0
2015
2016
2017
2018
2019
2020
2015
2016
2017
2018
2019
2020
3,000
2,000
New Listings
3
1,000
CAROLINA MOUNTAIN SALES 2020 REAL ESTATE YEAR IN REVIEW
BUNCOMBE CO. RES
AVERAGE DAYS ON MARKET: AVERAGE SOLD HOMES/ CLOSED HOMES: MEDIAN SALES PRICE (SFH & CONDO): AVERAGE MONTHS SUPPLY: AVERAGE PRICE PER SQUARE FOOT:
125
100
Average Days on Market
75
50
25
0
2015
2016
2017
2018
2019
2020
100
List Price to Sales Price Ratio
75
50
25
2015
2016
2017
2018
2019
2020
400,000
0
Median Sales Price
N
300,000
200,000
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2016
2017
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2018
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100,000
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2015
54 4,652 $339,250
0 $210.75
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-16.92% 6.87% 10.15% -100.00% 7.39%
CAROLINA MOUNTAIN SALES 2020 REAL EST ATE YEAR IN REVIEW
BUNCOMBE CO. RESIDENTIAL CONT D. 1
5, 000
4, 000
Closed Sales
3· 000
2, 000
1, 000
20 15
20 16
20 17
20 18
2016
2017
2018
20 19
20 20
6,000
New Listings
4,000
2,000
5 2015
2019
2020
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TEAM MEETINGS 2020 Team Meetings came to an in-person grinding halt after our early March gathering at Farewell Asheville (we know-ironic, right?). Little did we know that this would be our last in-person gathering before COVID-19 became a global pandemic and Zoom became the standard meeting room for companies everywhere.
OUR NEW OFFICE! 80 CHARLOTTE ST 2020 Had more than a few bright spots-one of which was our move to 80 Charlotte Street in central Asheville's bustling Charlotte Street corridor. Our new office makes the most of a location close to everything! Our modern, cafe-styled office makes conducting our client's buying or selling activity, a dream. A state-of-the-art real estate experience with conference facilities, coffee bar, lounge, and wif1, we welcome visitors to experience our unique real estate environment.