A Client Paid $2.3 million in 2014 for his Manhattan townhouse in New York. When he put the roughly 18,500 square foot house on the market the first of the year, he listed it for $50 million.
So what is going on now in real estate?
Several years ago $50 Million home were nonexistent but today as buyers feel more confident about the economy even the wealthy are stepping out.
Asheville luxury homes are selling quickly and home sales in Grove Park are selling fast than they are coming on the market and multiple offers at the same time is not unusual. Biltmore Forest, Rambles, Cliffs, Biltmore Lake and Grove Park home prices are on the rise.
Over the past year in Asheville NC, there were more than 79 homes for sale over a million with the top price of just under $5 million located in Lakeview Park.
As the economy improves and the confidence of the consumer increases higher priced homes will become in demand as many areas in Asheville already.
OK, let’s get more realistic!
The medium priced home in Asheville is $210,000 and sales are up compared to last year but so is inventory. However is sales continue as they are in 2015 inventory will deplete quickly and home will rise even fast than they are now.
Haywood County that includes Waynesville, Maggie Valley, Lake Junaluska, Clyde and Canton home prices ar much more affordable with the average priced home of $162,500. Home sales are increasing but inventory is still high. So Haywood County is a great place to purchase a home as it still is a buyer’s market.
So this hopefully will give you an idea of what is going on in our area. The Mills Real Estate Team is excited but the future of real estate in Western North Carolina and we hope to see you here soon.