It feels like the carousel is coming to town. After twelve years with no fresh air to bump up our real estate prices, we’re starting to feel a nice lofty breeze. We real estate enthusiasts – like meteorologists – have been tracking the offshore currents swirling around us since 2013. Asheville has traffic jams, Hendersonville’s not cheap anymore, and it’s just too nice here for us to be so close to the center of all the action and stll stay under the radar. So it’s happening. We’re becoming visible.
Tryon International Equestrian Center (TIEC) has put us on the map in a new way, boosting the perfect storm of demographics, weather, and lifestyle already blowing in people of all ages looking for a sweeter lifestyle.
On top of the inevitable return of a good market, we’re all bracing for whatever jolt the World Equestrian Games wil bring in only 17 months. Over 100,000 people are expected to attend and there is no way all of our current (and planned) hotels and rental housing will be enough.
Our phones have started to ring. Buyers are interested and renters are inquiring. It’s a great time to think about getting your house on the market. Today, the National Association of Realtors released data showing that what we’ve experienced in the Tryon area actually is a significant piece of the housing market. Activity all over the US is at its highest pace in ten years, and as we anticipated, we are in the sweet spot. The South leads all other regions of the U.S. in activity, with the highest percentage of all national sales – 42.4 percent! Our prices have jumped by 8.6% – higher than all other regions.
Interesting note on inventory numbers: The number of homes for sale is down 7 percent from a year ago (it feels like more to me). The math is significant – this lack of inventory has been compounding for almost 2 years, which means the average time from listing to sold is way down. But details matter, and that’s why having a good realtor to make it all happen is so important.
Join me on Mondays from 1-3 pm for tea & chocolates by Julia’s Carolina Confections at Drummond House Design Nook, 17 South Trade Street downtown for casual conversation about how to take advantage of these trends.
This all means it’s a great time to sell, and buy. My advice is – get good advice.
I’m always happy to hear from you.
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