Professional Documents
Culture Documents
Annual
Report
January–December
Prepared exclusively
for use by
Beverly-Hanks
& Associates
A personal message
from Owner & President
Neal Hanks, Jr.
I
I don’t know that I have ever witnessed our country so excited about a new year. Most folks are
eager to put 2008 as far as possible in the rear view mirror. Those of us in the real estate and
construction industries can certainly understand why. The statistics in this report bear out the facts
that many of you already know. 2008 was one of the toughest years our marketplace has seen in
quite some time. The question on everyone’s mind is “what can we expect in 2009?” Opinions vary
quite a bit on this subject. One reality that became crystal clear to many of us in 2008 is that our
local economy and real estate market is tied much more closely to the national and world economies
than ever before. Our high quality of life, varied employment base and historically modest levels of
new construction inventory position our community in much greater stead than most markets in the
country but certainly do not isolate us from the fact that many Americans have experienced significant
decreases in their net worth and/or their liquidity. When combined with continued uncertainty
regarding the economy, consumer confidence is understandably at low levels. From our perspective
consumer confidence will be the catalyst that will turn the tide in the real estate industry.
The good news is that with the recent inauguration of President Obama our country appears to be
optimistically looking ahead. A new stimulus package containing incentives related to our industry
such as a homebuyers credit and an increase in the jumbo loan limits could have a significant
positive impact upon sales activity. Many markets such as Florida, California and Arizona which
experienced the most dramatic downturns in real estate sales and values are now experiencing
significant increases in sales as buyers believe that prices are now at bargain levels. It also appears
that mortgage interest rates will remain historically low throughout 2009. The combination of these
factors could lead to positive momentum for the real estate industry. A little bit of positive momentum
will quickly improve consumer confidence in America’s best investment, Real Estate. Once consumer
confidence improves we are off and running. Let’s hope all of the above occurs sooner rather than
later.
At Beverly-Hanks and Associates we stand ready to provide you with trusted advice and counsel
during these challenging times. We will consider it a privilege to assist you with your real estate
needs, whatever they may be, in 2009.
NOTE: Information as reported by the North Carolina Mountains Multiple Listing Service. The North Carolina Mountains Multiple Listing Service
does not guarantee or is in any way responsible for its accuracy. Data maintained by the Multiple Listing Service may not reflect all real
estate activity in the market. These figures are based upon actual closed transactions as reported through the above mentioned service.
* These totals and averages include all sales reported through the North Carolina Mountains Multiple Listing Service.
Buncombe County
YTD
YTD 1/13/2009
Monthly Absorption
Units Active
Average Rate**
Sold Units
PRICE RANGE JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Units Sold
$0–$74,999 9 8 4 3 6 5 4 3 8 2 4 4 60 5 23 4.60
$75,000–$149,999 30 35 42 46 51 46 47 32 29 38 22 33 451 37.6 312 8.30
$150,000–$199,999 39 33 55 45 59 48 57 54 33 41 23 31 516 43.0 384 8.93
$200,000–$249,999 35 45 44 44 45 37 51 40 21 31 25 22 440 36.7 365 9.95
$250,000–$299,999 24 19 29 34 33 27 24 25 23 19 17 10 284 23.7 318 13.42
$300,000–$349,999 13 10 16 12 22 23 17 14 21 10 9 7 174 14.5 216 14.60
$350,000–$399,999 6 10 17 16 9 13 18 13 22 9 11 9 154 12.8 233 18.20
$400,000–$449,999 9 9 3 10 15 12 5 8 4 10 6 2 93 7.7 144 18.70
$450,000–$499,999 2 3 3 2 7 7 9 9 4 5 4 2 57 4.8 162 33.75
$500,000–$549,999 5 1 6 6 7 4 12 9 3 5 4 8 70 5.8 82 14.14
$550,000–$599,999 5 0 3 5 1 9 3 4 3 0 1 8 42 3.5 100 28.57
2008 Totals
NOTE: Information as reported by the North Carolina Mountains Multiple Listing Service. The North Carolina Mountains Multiple Listing Service does not
guarantee or is in any way responsible for its accuracy. Data maintained by the Multiple Listing Service may not reflect all real estate activity in the
market. These figures are based upon actual closed transactions as reported through the above mentioned service.
** Absorption Rate: The “projected” months it will take to absorb all of the listings in a particular price range.
2008 Totals
$600,000–$699,000 1 1 0 3 1 1 0 0 0 1 1 1 10 0.8 53 66.25
$700,000–$799,000 1 0 0 0 0 1 0 2 0 0 0 0 4 0.3 30 100.00
$800,000–$899,999 0 0 0 0 2 0 0 1 1 0 0 0 4 0.3 24 80.00
$900,000–$999,999 0 0 0 0 0 0 0 2 0 1 0 1 4 0.3 12 40.00
$1 Million–$1.9 Million 0 0 0 0 0 1 1 1 1 0 0 0 4 0.3 33 110.00
$2 Million–$2.9 Million 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 6 unknown
$3 Million–$4.9 Million 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 2 unknown
$5 Million Plus 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 3 unknown
TOTALS 92 100 112 116 132 112 107 116 82 90 69 79 1,207 100.6 1,489 14.8
Haywood County
YTD
YTD 1/13/2009
Monthly Absorption
Units Active
Average Rate**
Sold Units
PRICE RANGE JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Units Sold
NOTE: Information as reported by the North Carolina Mountains Multiple Listing Service. The North Carolina Mountains Multiple Listing Service does not
guarantee or is in any way responsible for its accuracy. Data maintained by the Multiple Listing Service may not reflect all real estate activity in the
market. These figures are based upon actual closed transactions as reported through the above mentioned service.
** Absorption Rate: The “projected” months it will take to absorb all of the listings in a particular price range.
$200,000–$299,999 27 40 9 6 18 11 2 0 1 4 0 5 0 9 50 82
$300,000–$399,999 4 24 0 2 0 1 0 0 0 0 0 3 0 4 16 38
$400,000–$499,999 4 5 0 0 0 0 0 0 0 2 0 2 0 1 6 11
$500,000–$749,999 3 8 0 0 0 0 0 0 0 0 0 4 0 0 4 13
$750,000–$999,999 1 3 0 0 0 0 0 0 0 0 0 1 0 0 1 4
$1 Million+ 1 4 0 0 0 0 0 0 0 0 0 0 0 0 2 4
TOTALS 215 455 106 275 135 343 29 69 22 43 53 161 82 260 684 1,695
$400,000–$499,999 50 2 8 4 0 13 12 97
$500,000–$749,999 42 0 6 1 0 8 8 75
$7500,000–$999,999 12 0 1 1 0 5 4 27
$1 Million+ 12 0 0 0 0 5 4 25
NOTE: Information as reported by the North Carolina Mountains Multiple Listing Service. The North Carolina Mountains Multiple Listing Service does
not guarantee or is in any way responsible for its accuracy. Data maintained by the Multiple Listing Service may not reflect all real estate activity
in the market. These figures are based upon actual closed transactions as reported through the above mentioned service.
* Do not have 2007 market data for this county.
92.0%
Up to $499,999
$588,686,767
$212,974,052
$93,736,487 $93,564,321
Keller Coldwell
Williams Banker Prudential Century 21
Professionals Kasey Lifestyle Mountain
Asheville Associates Realty Lifestyles
NOTE: Information as reported by the North Carolina Mountains Multiple Listing Service. The North Carolina Mountains Multiple Listing Service does
not guarantee or is in any way responsible for its accuracy. Data maintained by the Multiple Listing Service may not reflect all real estate activity
in the market. These figures are based upon actual closed transactions as reported through the above mentioned service.
www.beverly-hanks.com
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