Murphy Real Estate Market Conditions & Reports, Murphy Market Trends, North Carolina

Market Commentary Provided by Jim and Iris De Rosa
If you can qualify, now is an exceptional time to buy a home in Murphy. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 828-360-6466

Report Date

Fall 2009

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CONNECT WITH A LOCAL PROFESSIONAL

Jim and Iris De Rosa
RE/MAX Mountain Properties
Murphy, North Carolina
828-360-6466
Jim@PerfectViewRealty.com
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Nearest Metro Area

Asheville, North Carolina

Buyers’ or Sellers’ Market

More sellers than buyers

Average Time on Market

More than 120 days

Market Trend

Increasing

Housing Inventory

Good supply - Some Prices

Inventory Comments

There is a decrease in the inventory of new homes, while the supply of existing homes is increasing.

Average Home Price

$175,000 - View Graph Trend

Best Selling Price Range

$100,000 - $149,000

Worst Selling Price Range

$300,000 - $349,000

Compared to Last Year

Up 5-10%

Prices As % of Asking Price

95-100%

Multiple Offers?

Yes

Multiple Offers Commentary

Most multiple offer occur when the bank is the seller, one reason is that the banks take too long to respond to offers and the other is the perception that the bank will entertain any 'low Ball' offer.

Greatest Activity

Repeat Buyers

Buyer Activity for the past 90 days in Murphy is

Increasing

Seller Activity for the past 90 days in Murphy is

No Change

Is Financing Available For Qualified Buyers in Murphy?

Yes

Comments on Financing For Qualified Buyers

If you are dealing with an agressive mortgage company and are qulified, closing can take place in less than 30 days.

Existing Home Prices for the past 90 days are

No Change

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

5-10%

Housing Hot Spots

There has been an increase in interest in the Hiwassee Dam area, Bear Paw Views, Grandview falls and unimproved land that boarders Us Forest Service land.

Reason to Buy/Sell

Lower prices with good selection and competitive interest rates creates a perfect time to buy in Murphy! Because of its' natural beauty and climate the vacation and retirement homes are maintaining there value and appeal.

Average Sold Price

$175,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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