Real Estate Statistics

What a beautiful morning in the mountains!! I woke up to a nice 64 degrees and fog. Now, at almost 11:30, it's a gorgeous 72 degrees with the sun shining. We've had a surprisingly mild summer so far. And, while it's been very wet, all the rain promises for some spectacular fall colors this year!! I think Fall is my favorite season...seeing the trees lose their old leaves only to sleep through the Winter and awaken with the promise of being renewed!

I saw in the Cherokee Scout yesterday they will be breaking ground on the Casino (Harrah's) in Murphy by mid-October. They are predicting 900 new jobs, which should be a real boost to our economy!

On a real estate note, recent statistics for the month of July show there were 7,461 properties on the market.  This may seem like a lot, but is waaaaay down from a high of 15,505 during the same month in 2008. While this is not ideal for a buyer, it is great for sellers. The less inventory for a buyer to choose from, the better position the seller is in to negotiate.

There were 296 closings in July, which is the highest in that month since 2007. 43 of those properties were in Cherokee county. The average sales price has gone up as well. Sales prices compared to list prices are at 91.72%, but sales prices to the original list prices (property prices were reduced during the time the property was listed) are at 88.45%.

Lastly, I would love some feedback on my blog. Let me know what you do and don't like to see on it. I want this to be a place where you find helpful information, whether it be about the community or real estate. I really want your input...

Hope the rest of your day goes great!
Carol...

Happy Monday!!!!

Happy Monday, everyone! My son headed off to his first day of school at The Learning Center in Murphy. The rest of the county will be starting next Monday though. Not sure why we started a week early, but am thankful to be getting back into my routine!

Wanted to share with you that my son and I, along with his grandparents, went to Tri County Racetrack last Friday for their "Back to School Nickel Night." What a great time we had! Macon Bank sponsored it, and put out 1200 nickels on the track for the kids to tackle and grab as many as they could. Over 100 kids participated and JD came home with $4.20 worth. Thank you Macon Bank for a great time!

The races were a lot of fun and the weather was perfect!! Am looking forward to more races in our future.

In real estate, things are moving right along in the mountains! July statistics show there are over 7,000 properties on the market in our area. Clearly half of the amount the same time in 2007. That's great for sellers! Surprisingly, the same number of sales in July as in July of 2007, but the highest since 2008!! The market has been changing. The sales price from the original list price is at 88.45%, which is at it's highest since 2007. Forecasts are that the market will continue to improve, and prices will increase. So, if you have been thinking about buying, I'd put some serious thought into it! Typically,  real estate is one of the most sound investments you can make...