When's the right time to buy? NOW!

I know you probably hear this kind of talk from real estate agents all the time, but I'm going to give you solid evidence as to why right now is a great time to buy real estate in the beautiful mountains of Western North Carolina, specifically Henderson County.

A friend of mine who is also a broker in Hendersonville just did what's called a Market Absorption Rate report to determine how much real estate has been selling in Henderson County, and based on that, how many months of inventory we currently have on the market. Before I give you the information, please let me ask you to keep in mind that as a general rule of thumb, 6 months of inventory is considered a balanced market. Anything under is a seller's market and anything over is a buyer's market.

So here's the info for Henderson County, North Carolina:

For properties classified as residential in the last 12 months there were 1,358 closed transactions. Based on that figure we have 9.96 months of inventory currently on the market.

In the last 6 months there were 510 closed transactions. Based on that figure we have 13.26 months of inventory currently on the market.

In the last 3 months there were 202 closed transactions. Based on that figure we have 16.74 months of inventory currently on the market.

"Months of inventory" is figured by taking the number of properties currently on the market and dividing it by the average closed transactions per month based on your specified time period... 3 months, 6 months, and 1 year, in this case.


So as you can see, especially based on the last 3 months, buyers have the extreme upper hand around here. This does differ based on what price range you're looking in, of course (if you're looking at $500K properties your leverage will be better than if you're looking at $200K). But anyway, if you've been thinking about buying in this area, and have the means to do so, please come on out here and see me! Most motivated sellers here will consider all reasonable (and in some cases, unreasonable) offers!!