94 New Listings
Down 20% from Jan. 2023
68 Sold
Down 25% from Jan. 2023
$24 MM Sales Volume
Down 24% from Jan. 2023
$354,596 Average Sales Price
Up 1% from Jan. 2023
94% of List Price Received
Down 2% from Jan. 2023
82 Average Days on Market
Up 55% from Jan. 2023
Listings are down, but don't worry, prices are staying steady. The culprit? Sellers playing it safe due to the interest rate rollercoaster. They're not convinced selling will actually improve their position, so unless life throws them a curveball (think relocation or new family needs), they're happy where they are. This means fewer options for buyers, hence the listing slowdown, but prices are staying strong! So, buckle up for an interesting market dance between cautious sellers and eager buyers.
As far as interest rates go, Bryson Burt, local expert with Union Home Mortgage, predicts low 6’s to upper 5’s by Q3. Smart buyers will purchase now before the competition really kicks in.
Regardless of market trends, Vignette Realty has increased our sales volume from January of last year by a whopping 31%.
Statistics according to Carolina Smokies MLS
