Highlands Real Estate Update for May 2018

Highlands Real Estate Update for May 2018

  • 10/4/18

Highlands Plateau Real Estate Update

The Highlands Plateau has seen a resurgence of interest in its real estate for sale. The number of closed sales has increased year-to-date from 140 closings in 2016, 161 closed sales in 2017, and a big jump in 2018 with year-to-date sales of 224 homes.
Contact Doug Treadwell at Highlands Sotheby’s International Realty for market information
The median sales price has also increased from $350,000 in 2016, up to $360,000 in 2017, and again a jump to $432,500 in 2018.
The total days on the Market have declined with a drop from 317 days in 2016 to 241 days in 2018.
The overall inventory is shrinking with only 866 single-family homes for sale. There were 670 closed sales over the last 12 months with 116 homes either pending or in due diligence. This equates to just over a 13-month supply of inventory. The lowest level in several years, indicating we are entering a balanced market.
What does this mean? Prices have leveled, and we are beginning to see increases in both the average sale price and the median sale price of houses sold. With the decrease in days on market, it is a great time to both buy and sell.
If you are looking for that ultimate mountain experience visit Highlands and Cashiers North Carolina.
Douglas Treadwell
Highlands Sotheby’s International Realty
(828) 482-2800 direct

Visit Us for the current inventory of homes for sale

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