Monday, January 6, 2020 / by Doug Treadwell
Highlands and Cashiers Year End Real Estate Market Review.
Happy New Year and welcome to 2020 and the year end market review from the Mountain Life team of myself, Doug Treadwell, Dan Doughty, John Sheehan and Heather Ball.
2019 was a great year for real estate here on the Plateau. The Market was up again with the unit number of sales increasing for the 4th straight year with 694 closed sales, we were hoping for over 700, but came up just short. However, if we include the 111 pending sales and homes in Due Diligence the total closed home and homes under contract exceeded 800 for 2019.
If you have been looking for your mountain home to get away from the summer heat, don’t wait too long, The average sale price increased from 660,000 in 2018 to 674,000 for 2019. And has increased by a little over 31 percent since 2017. There are still great values so come in up and enjoy the mountain lifestyle.
Inventories continue to decline with days on market also declining from 288 days to 243 days for 2019.
On a personal note I would like to congratulate the mountain life team, we formed our team less than a year ago and we were able to close on over $20 million in sales for the year 2019. A testament to the hard work and dedication of the group.
We are anticipating a continuation of the strong market for the coming year with a slight increase in pricing for the new listings coming on the market this season.
We look forward to helping you find the dream home you have been searching for here in the western mountains of North Carolina.