Several Western North Carolina counties will be facing home revaluations in the next couple of years.
According to state statute, counties must reappraise their properties every eight years at least. This is to ensure that home values are aligned with true market values and that there’s not runaway inflation or deflation.
Counties determine property values by looking at the property’s most recent selling price and the selling prices of surrounding properties.
Highlands, NC Area Real Estate Values
Here’s an update on property values in several Western North Carolina counties, including Macon, Jackson and Haywood counties.
- Macon County – which includes Highlands – postponed its revaluation until 2013.
- Jackson County – which includes Cashiers – postponed its revaluation until 2015
- Rutherford County – which includes Chimney Rock -postponed its revaluations until 2012.
- In Haywood County – which includes the communities of Waynesville, Canton and Clyde – home values have held steady since the 2006 revaluation, according to the 2011 revaluation.
- Haywood County saw new construction increase by 13 percent.
- Overall property value in Haywood county increased from $5.9 billion in 2006 to $6.7 billion.
- Buncombe County postponed its revaluation, which it must complete by 2014.
- Henderson County saw property values drop by 10 percent during its 2011 revaluation.
- Property values in Asheville, NC have increased by about 7 percent on average since 2006.
Investing in Highlands, NC Real Estate
The Highlands area real estate market is a constantly evolving frontier. That’s why you need an experienced Highland,s NC area REALTOR who understands the finer points on the housing market.
As your North Carolina mountain real estate expert, I have years of experiencing working in several Highlands, NC area real estate markets, including:
Until next time,