Brevard NC Mirrors Mid-Atantic Home Sales Upward Trend
The tax credit incentives for home buyers have expired so how has it affected the sales production compared to 2009? According to a RISMEDIA article dated June 11, 2010 entitled “May 2010 Mis-Atlantic Region Sales Show Upward Trend”—Metropolitan Regional Information Systems, Inc. (MRIS), a leading provider of real estate information technology and the largest multiple listing service in the nation, announced that the number of homes sold in the Mid-Atlantic region increased by 7% during the month of May compared to April 2010. Rockville, Maryland-based MRIS released its May 2010 Residential Real Estate Market Statistics, a monthly report showing purchase activity and trends by jurisdiction, county and zip code within the Mid-Atlantic region.
Data from the report suggests that a move toward stabilization could be occurring in the residential real estate sector, despite the end of the government tax credit incentive on new home purchases, which ended on April 30, 2010. Average Days on Market (DOM) in May decreased by 6% over April, falling from an average of 83 days to an average of 78 days in the region. Average sold price increased nearly 3% compared to May 2009, after increasing by 4% in April. The majority of homes sold were priced between $200,000 and $350,000 offering three or more bedrooms, a continuation of the trend reported in April.
“MRIS actively monitors and analyzes purchase activity and trends each month to keep real estate professionals (and their customers) updated on the latest meaningful market trends. As the Mid-Atlantic region continues to show selective signs of a slow recovery (even without the tax credit incentive on new home purchases for first-time and upgrading buyers) we are cautiously encouraged that supply has not outpaced demand in the region as a whole,” said John L. Heithaus, chief marketing officer of MRIS.
In Brevard, NC located in Transylvania County according to information provided by North Carolina Mountains MLS there were 107 units closed between Jan 1 through May 31, 2010 as compared to 65 units closed in the same time period in 2009 a 64% increase.
