Asheville Real Estate Trends: Buncombe County, NC - Days on Market/Sales - January 2012

In a "healthy" real estate market, the DOM, in our area, would normally be between 80 and 120 days. If the DOM are increasing, as has been the case here lately, it indicates less demand and can result in a general or collective move to reduce prices.

If the number of home sales in a month are also reduced, then it is almost a given that prices must be reduced in order to regain the interest of buyers.

The trend in Asheville/Buncombe County for DOM has been basically flat , but has shown a slight uptick in January, and sales have slowed slightly also. The trend in monthly Home Sales has been a downward one overall year-to-date.

This has resulted in more price reductions, which has been disappointing, generally, in this market.

We are at record highs for DOM of SOLD homes, about double the "normal".

January 2012

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