ASHEVILLE, N.C
Real Estate Market OUTLOOK
It's "Red-Hot" and GREEN
Do trends and statistics in land and home sales grab your attention? If you're like me, an avid real estate market watcher, they sure do, especially nowadays, and especially when it comes to the red-hot GREEN market..
Good News: In the Greater Asheville, N.C. area as we look out to 2008, we see on our glorious horizon "mountains" of opportunity with prosperous predictions for 2008 and "blue skies" as we look back at 2007. Check out these stats:Population: Greater Asheville Area 398,009
Asheville, proper: about 80,000
Appreciation in the Asheville area:
One-year change: 9.44%
Five-year change: 55.46%
New Construction: "GREEN" NC Healthy Built Homes...DUE in 2008: . . . !!! 470 !!!! . . .
The media might tell you that there are cloudy days in much of the market... but "sunny days" (see photo above) are still to be had. And, as I reviewed the happenings in the real estate market here in the Greater Asheville area, I recognized bright trends and forecasts. Yes, to some extent, we have felt the effects of credit tightening and the sub-prime mortgage crisis, but popularity of green built homes has only increased, and here in Asheville, it seems to me that this-helps drive our market in a positive way.
Take for example:
- MSN "Best Housing Markets" recently reported that Asheville is in the Top 10 List and
- Asheville is #1 Best Place to Live/Relocate...according to on RELOCATE-AMERICA.com
and you will see how vibrant our market is.
By the way, the full list of appreciation figures for real estate markets across the U.S. can be found at the Office of Federal Housing Enterprise Oversight . Median home prices were supplied by the National Association of REALTORS®. Asheville ranked #9 in the real estate markets that performed the best in terms of price appreciation in the third quarter of 2007. All of this is encouraging news for buyers, sellers and investors.
Now on to my very special area of interest in the real estate market: GREEN REAL ESTATE. . .I've compiled data (below) for "GREEN-Built" Homes, ECO-Friendly Developments/Lots, Farms & Land /Acreage (20-100 Acres), Farms & Land /Acreage (100-500 Acres), Horse/Equestrian Properties w/ Residential Amenities, Luxury Residential and Second/Vacation Properties on at Least 5 Acres, and Special Gems for Baby Boomers.
2007-2008 Real Estate Market Review & Trends in Greenolina's Market Niche
Buncombe County & The Greater Asheville, North Carolina Area
"GREEN-Built" Homes and/or Energy Star
Closed in 2007: 30 (82 WNC Healthy Built Homes in total)
Currently Available Over $1M: 20
Available $500- $900K : 20
Available $300-$500K: 19
Available $200-$300K: 15
Available Under $200K: 2
NOTE: "GREEN" NC Healthy Built Homes...DUE in 2008: !!! 470 !!!!
Building Lots in "GREEN"/ Conservation Developments
Closed in 2007 : 93
Currently Available Over $600K: 3
Available $ 300-$500K: 20
Available $ 200-$300K: 18
Available $ 100-$200K: 8
Available Under $100K : 5
LAND /Acreage (20-100 Acres)
Closed in 2007 : 925
:
Currently Available Over $1M: 112
Available $500- $1M: 132
Available $ 300-$500K: 104
Available $ 200-$300K: 45
Available $ 100-$200K: 15
Available Under $100K : 0
Look for Part 2 of this report later this week . It includes stats and news about
- Horse/Equestrian Properties w/ Stables & Residential Amenities
- LAND /Acreage (100-500 Acres)
- Luxury Residential Properties on at Least 5 Acres and Second/Vacation Homes in the Mountains
- Special Gems and a Note to Baby Boomers...Just FYI
In the meantime, you can read the Best Housing Markets / OFHEO FULL REPORT HERE and I will be interested to read your comments on the info so far...Happy New Year.
Copyright © 2008 All Rights Reserved Asheville ECO Real Estate: Trends, Legacies & The Home Place Greenolina
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HI janeAnne, this is an interesting list. It seems as though you guys have quite a few of Green Built homes in the area...Also amazing how your population has gone up. 55% in 5 years? WOW!
janeAnne, How far from the ocean are you? Your stats look good..
Bill Roberts
Steph~
It's our appreciation (not population) that is on the major rise...although I must say, seems as if everyone wants to come to our area. Asheville , after all, is the "Happiest City in the USA"...and that is true.
Bill~
How far from the ocean? That depends on how fast ya' drive/fly (I'm grinning ear-to-ear)...OH! and also if you have a big SUV and need to make stops for gas, or an energy efficient vehicle...(again...grinning ear-to-ear)...but seriously..it takes me about 4 hours. I am not saying if I am a fast driver. But I will say, I do drive an energy efficient vehicle. THX for comment on good-looking stats.
Eloise~
You are so right about stats not being carved in stone.
Even in various areas in our 5-county MLS we see different appreciation percentages. If you were to relocate here and wanted a 20 acre parcel for you and your horses, and you invested in 20 acres that was m ostly a mountain (with say 2 acres of pasture) the price point would be a lot different than 20 acres for hunters/jumpers with a stream and easy accessibility to Asheville.
John~
Thanks for picking up on the "green" theme here. You commented, "...There are certainly more and more green homes available. Even conservative hold outs realize that it's not about some far out ideals, but about conserving energy, the environment and $$. Now that is conservative. "
I enjoyed your play on words.
Everyone~
Do trends and statistics in land and home sales grab your attention? If you're like me, an avid real estate market watcher, they sure do, especially nowadays, and especially when it comes to the red-hot GREEN market..
Please let me know how it is going in your "neck 'o the woods"...
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janeAnne,
Great post about great news.
Its always a pleasure