About Jackson County, NC

Comparison of sales data for calendar years 2006 and 2007 for Land sales in and around Cullowhee, NC. Data provided by Northern Jackson County MLS.

TOTAL UNITS SOLD

2006-47

2007-33

**29.28% decrease in units sold**

AVERAGE SALES PRICE

2006-$148,129

2007-$103,215

**30.32% decrease in average sale price**

MEDIAN SALES PRICE

2006-$67,500

2007-$53,350

**20.96% decrease in median sale price**

CASH TRANSACTIONS

2006-26

2007-19

FINANCING TRANSACTIONS

2006-21

2007-14

It is obvious that the various factors affecting real estate markets throughout the country also had some effect on sales during 2007 in Cullowhee and surrounding areas. The slow down of the markets in general, tightening of lenders and investors for financing as well as, the Subdivision Moratorium and Steep Slope Ordinance in Jackson County caused apprximately a 30% drop in sales.

Sales data comparison for years 2006 and 2007 for mountain real estate in Jackson County, NC. Data is derived from the Northern Jackson County MLS.

TOTAL UNITS (Residential and Land)

2006-521 units

2007-426 units

Avg. Sales Price

2006-$155,800

2007-$162,002

Avg. Days on Market

2006-235 days

2007-208 days

RESIDENTIAL UNITS

2006-305 units

2007-237 units

Avg. Sales Price

2006-$191,777

2007-$201,006

Avg. Days on Market

2006-174 days

2007-156 days

LAND UNITS

2006-199 units

2007-174 units

Avg. Sales Price

2006-$41,000

2007-$45,000

Avg. Days on Market

2006-326 days

2007-260 days

The major difference between 2006 and 2007 was the low volume of buyers entering the market, evidenced by the 18.23% decrease in Total Units Sold. Days on Market for total units decreased 11.4%, with Residential prices going up by 4.8%. Land sale prices reduced by 8.97% from 2006 to 2007.

I was helping my two son's summer/fall tournament and wood bat baseball team in a fund raising effort this evening. We were working for Aramark running one of the concession stands at the Davidson/Western Carolina University Men's Basketball game. During our halftime rush we heard a roar from the crowd in the Ramsey Center. It was not until the start of the 2nd half that we learned there was a winner in the Sonic Drive In halftime contest. A student is selected from the stands to go onto the court and he/she has 25 seconds to hit 4 shots. Sounds easy right. The shots have to be in this progression, first a layup, second a free throw, thirdly a three pointer and lastly from half court. You get one ball and must retrieve your own rebounds. Sounds a little tougher now, huh?

At approximately 10 minutes to go in the game, this clean cut All-American type college kid comes to the concession stand. He was having trouble talking and was shaking. He finally gave us his order, then he apologized for being a little shook up as he was the winner of the $10,000.00 prize money from Sonic Drive In. One of the 15 year old boys in our group asked him what he was going to do with the money. I was waiting on the typical, college sophomore response of "party down at Spring Break" or " keg party at my apartment this weekend". But, he said, "Oh, my Dad is a financial adviser and I am going to give it all to him to invest for me until I finish school". Now, get this, he further stated something along the lines of it will sure make a good down payment on my first home. I thought, wow I like this kid and a half dozen 15 and 16 year old boys just stood there slack jawed, staring at what they thought had to be the biggest idiot they had ever met. I told the young man, if he stays in the area after graduation to come see me at the Western Carolina Properties office on Speedwell Road and I would help him with that first acquisition. I just hope that the kid's Dad is as responsible with the money as his son.

If you schedule a trip to Western North Carolina, it is worthwhile to spend some time in Cullowhee. Cullowhee is a Census designated area of Jackson County that is unincorporated. It is the home of the Catamounts of Western Carolina University. They compete in the Southern Conference at the NCAA Div. I level in Men's and Women's athletics and the Football Championship Series (formerly NCAA Div. IAA) in football. WCU is a state supported public institution and is in the processes of major expansions, with the acquisition of 360 acres to place the Millennial Campus (see www.millennial.wcu.edu ).

Cullowhee has a population of 3579 and 716 households, per the 2000 Census. There are approximately 2500 undergraduates residing in dormotories. The most common industry is Educational Services, with approximately 37% of the population working in that field.

Nearby towns include Sylva, 5 miles away and the county seat. This is where most shopping and business takes place. The town of Webster is located 3 miles from Cullowhee.

Entertainment and recreational activities abound as Asheville, NC is just 47 miles away, the Great Smoky Mountain National Park and the Eastern Band of Cherokee Indians Reservation are located just 18 miles from Cullowhee. The Tuckasegee River provides ample places to trout fish, Pinnacle Park and various USFS lands afford many opportunities for mountain hikes. You can take a day trip on the Blue Ridge Parkway (17 miles to Balsam area of Parkway). At nightfall you could find yourself being entertained, on campus, at the Fine Arts and Performing Theatre or Liston B. Ramsey Regional Activity Center. These venues have hosted performances by Jay Leno, Hinder and other entertainers. The last weekend of September finds Cullowhee in a buzz, as the Mountain Heritage Day takes place. You will find mountain crafters, artisans and displays of early life in the mountains of North Carolina, as well as, music, food and various contests.

Local news can be obtained from The Sylva Herald, a weekly newspaper or the Western Carolinian, a campus newspaper.

Local websites of interest:

www.wcu.edu official website of Western Carolina University

www.cowee.wcu.edu/uccam/ a webcam at the University Center

http://catamountsports.cstv.com/ official site of WCU athletics and online store

www.thesylvaherald.com Sylva newspaper

www.wcproperties.com Real Estate sales

www.wcrentals.com Real Estate rentals

www.cullowhee.net Cullowhee online