Asheville’s Real Estate Market
As you are probably aware, Asheville is currently experiencing a sellers’ real estate market. Homes in Asheville are selling for 17.9% more than they did a year ago. This raise in price is mostly because of declining inventory. The number of listings in Asheville decreased by 1.7% between June 2022 and July 2022.
Will this trend continue? National trends suggest it may not. According to the National Association of Realtors, home sales dropped by 5.9% from June to July and dropped 20.2% from the same period one year earlier, marking the sixth consecutive month of decline. Issues such as inflation, high mortgage rates, and record-high home prices are chipping away at housing affordability. Realtor.com is predicting that its housing inventory will jump by 15% in the second half of the year, which may not necessarily decrease prices, but it will offer buyers more options.
If you’re thinking about buying or selling your home, the key is to focus less on the market trends and more on picking a realtor who can guide you through any scenario.
If you want a realtor who can manage potential shifts in the Asheville market, look for a realtor with these four characteristics:
1) Prepared for Change
When change starts to happen, many people want to deny it. But change is inevitable, and seasoned realtors have seen plenty of ups and downs over the years. They are the ones who are going to notice the change in the market and make shifts in their businesses to accommodate whatever is happening.
2) Focused on Their Clients
Ego is a big driver in real estate. The realtors who focus on themselves are going to get left behind when things change. They are going to bank on their past successes rather than focusing on what will happen in the future. You want a realtor who puts you and your needs first and partners with you in the process.
3) A Proven Track Record
When things change, people flock to safety. Your best bet is a realtor with a proven track record.
Before hiring someone:
- Speak with past clients.
- Research the person on the internet and social media to see what people are saying online.
- Ask how the realtor has helped clients overcome obstacles that led to successful closings.
- Question the realtor about current market trends.
4) Dedicated to the Profession
A lot of people flock to real estate when things are going well, and then they bail when the market takes a downturn.
Warren Buffett said, “Only when the tide goes out do you find out who’s been swimming naked.”
When the real estate market shifts, you will see which of the realtors were swimming naked and which are in this profession to stay. Choose your realtor wisely!
Ready to find a realtor who can help you navigate any kind of real estate market? HomeSource Realty is your trusted source for buying and selling in all parts of Asheville. Click here contact us today!