February statistics have been compiled, and here's the scoop on what you need to know when analyzing Buncombe County's data!
New listings have surpassed last year's numbers for the same period and have also increased from the previous month. This uptick is excellent news, as it indicates a growing inventory, albeit gradually. This expansion is crucial in attracting the buyers we're seeking!
However, there's a bit of a mixed bag with the median and average sales prices, as they've dipped. For buyers, this is a favorable trend, but for sellers, it might not be as welcomed. Nonetheless, sellers can still find solace in the fact that prices remain at respectable levels. The downward trajectory mirrors the percent of the original list price received, signaling that some properties are initially priced higher and may require adjustments or accepting offers below the listing price.
The months of inventory have remained steady at a two-month supply from January to February but have seen a significant increase compared to February of last year.