Beverly-Hanks delivers their first quarter market report. Neal Hanks, Jr., President of Beverly-Hanks, REALTORSⓇ, recently delivered the company’s first quarter Real Estate Market Report. According to the Beverly-Hanks Q1 2019 Real Estate Market Report, the Federal Finance Housing Agency reported a 7.53% price increase in the Asheville MSA last year. “The report also indicated a slight decrease in home prices during the fourth quarter of 2018,” said Hanks. “This could certainly be signaling some change.” Sales pace across the region has also tapered off in recent months. In a trend that began in the summer of 2017, the regional sales pace growth slowed to 0.3% over the last 12 months. “A supply shortage in certain price ranges is creating drag on the growth of the region’s sales pace,” said Hanks. “Overall, we expect that sales pace will remain on par with 2018 for the coming quarter.” Throughout the region as a whole, there continues to be an ample supply of homes for sale over $750,000, as well as good supply in the moderate price ranges. However, WNC is seeing an ongoing shortage of homes priced under $400,000. This shortage is most pronounced close to town centers like Asheville, Brevard, and …
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