UMMM HELLO!!!! Can we just take a second and take a look at the Months Supply of Inventory!!??!! 2.9 MONTHS! We haven't seen a number like that in YEARS! Seeing our monthly inventory creeping back up is so good to see and for a couple different reasons. One being that it means our inventory pool is getting larger and buyers have a larger selection of homes to choose from. Another positive from the growing inventory is that it means we are slowly, very slowly, creeping towards a more balanced market!
Next, lets take a look at both the Average and Median Sales Price. These two numbers have quite a drastic difference and we can totally attribute that amount of high end homes/million+ dollar listing that are coming on the market monthly. But the median sales price is a good indicator of the price of homes in the buncombe county area.
Days on market we are seeing creep up as well. It is taking longer for houses to go under contract and we can see that correlation with the months supply of inventory. I think we are seeing houses sit on the market a little longer than we have for a couple reasons. One, because homes are still a little over priced and two, because buyers are being a little more cautious, especially with the higher interest rates.