Highlands Real Estate Market Report for February

The month of January continue to be a great month for Highlands area home buyers, based on the most recent data from the real estate website Trulia.

Not only did the average price per square foot decrease significantly but so did the median sales price!

Continue reading to see just how much of a buyer’s market it is right now in the Highlands, NC area – and how you can directly benefit as a home buyer.

Western North Carolina Homes for Sale

Here’s an overview of the current state of the Highlands real estate market, based on the most recent market data:

  • Currently there are 743 resale and new homes on the market, including 2 in some stage of the foreclosure.
  • Between October and December, the average price per square foot for Highlands homes was $378, down 33.9 percent from the same period in 2010!
  • During that same period, the median sales price was $285,000, which was based on 17 home sales.
  • When compared to the same period in 2010, the median sales price has decreased by 32.9 percent.
  • In 2010, the median sales price was $425,000.
  • Here’s how neighboring North Carolina communities compared in terms of median sales price:

Scaly Mountain: $172,500
Otto: $135,000
Franklin: $120,000
Clayton: $140,000

  • Meanwhile, the number of home sales increased by 142.9 percent between 2010 and 2011.
  • During the week ending on January 25, the average listing price for Highlands homes was $838,958, up 0.2 percent from the week before.
  • During that previous week, the average listing price was $837,281.
  • During the week ending on January 25, the average listing price for a 1-bedroom Highlands home was $375,148
  • The average listing price for a 2-bedroom home was $481,827
  • And the average listing price for 3- and 4- bedroom homes in Highlands were $611,270 and $1,142,152
  • Here’s how neighboring communities compared in terms of average listing price:

Scaly Mountain: $578,104
Otto: $242,429
Franklin: $226,985
Clayton: $214,410

Investing in Highlands, NC Real Estate

With decreases in median sales prices up to nearly 33 percent, it clear that it’s definitely a buyer’s market right now in the Highlands, NC area.

If you’re an interested home buyer looking for a fantastic deal on a beautiful Highlands area home, contact me, Dorothy Swearingen, your Highlands area real estate expert.

You can even start searching for your next Highlands home now by using some of my pre-defined home searches:

Until next time,

Dorothy

 

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