Southwest NC Mountain Real Estate Information and Performance and Impacts on COVID
Have you been looking for homes or properties in this area and find that it is already under contract when you look back the next day? Well I for one am not surprised based on the latest stats from MLS in the region comparing the 3rd quarter of 2020 to the same period the prior year! For one....listing inventory is down 51% as compared to the 3rd quarter of 2019! Yes, that is not a misprint.
The SW NC region has experienced incredible demand for properties in 2020. Much of this demand has been attributed to additional buyers that are entering the area (many from the northeastern areas of the US) looking for 2nd homes or investment properties. While Covid has and continues to have major impacts on our lives it has also triggered buyers to thinking they wouldn't mind a place to go during lockdowns. The mountains offer many outdoor activities that are generally permitted including hiking, biking and skiing. Home purchases that are used as short-term rentals are also thriving for similar reasons as renters would rather be in a home on their own instead of hotels that have common areas.
See the information below comparing the 3rd Q of 2020 to 3rd Q 2019. Some good news is projections suggest that the supply of listings will start to increase in 2021 and home price appreciation is over 15% for the year and continues a steep appreciation rate for the past several years.
If you are looking to buy a home in the area as your primary residence, a 2nd home or an investment property, I suggest you set up a search with me to be the first to know when properties come on the market. We at Mountain Properties of the Carolinas are committed to acting quickly to show the home, provide you additional key information or even doing a video for the home your are very interested in but can't make it to the area quickly!
Give me a call at 864-567-9009 or shoot us an email at firstname.lastname@example.org to get started!