BY CORY VAILLANCOURT POLITICS E DITOR tarved for supply, realtors in the Asheville region are listing fewer homes than at this time last year as pricing continues to climb. “Sales activity and buyer demand is falling largely because of rising mortgage rates, inflationary pressures and continuing price increases,” said Kim Walker, a research and media relations specialist for Charlottebased Canopy Realtor Association. Monthly data published since January by the Canopy Realtor Association for the greater Asheville region — which includes Buncombe, Burke, Henderson, Jackson, Haywood, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania and Yancey counties — make two things absolutely clear. The first is that both the average list price and the average sale price of homes in the
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greater Asheville market are still rising. “The median sales price has risen largely because the supply of homes, particularly homes priced below $350,000, have been absorbed quickly over the past few years, leaving higher-priced homes in inventory,” Walker said. “Those higher-priced homes included in inventory now, and the lack of supply, is causing the median sales price to rise faster.” In January of this year, the average sale price across the region was $447,000, up 14% over January 2021. By early June of this year, it had risen by almost $100,000. Haywood County was an outlier in that regard; in January, the average sale price was $382,000 but in June, it was relatively flat at $380,000. A conventional 30-year fixed mortgage for $380,000 at 6.5% would result in a monthly payment of about $2,406, meaning an individual in Haywood County would have to earn
at least $96,000 a year to make payments comfortably. The median income for an individual in Haywood County is less than $31,000. Over that same January-June period, the average sale price in Jackson County has exploded from $276,000 to more than $525,000. As of 2020, the median income for an individual in Jackson County was $22,000. The second truth apparent from Canopy’s data is that since at least January of this year, the number of new listings has dropped as compared to the same months in 2021 — sometimes by double-digits, except for a brief uptick in May. Accordingly, the number of pending sales has also dropped. “Realtors are hopeful that the Asheville region and points closer to metro Asheville will start to see more seller activity in the form of increased new listings,” Walker said. “In other Canopy MLS markets (Charlotte and the Hickory-Lenoir regions), as well as markets across the country, sellers sense their opportunity to capitalize on the hot housing market may be declining, and so we are seeing more new listing activity come on slowly and positively impacting inventory, causing it to increase.” Second-home sales drove the market during the Coronavirus Pandemic years of 2020 and 2021, Walker said.
“Certainly, affordability has declined dramatically, and this affects millennials coming of age who are ready to purchase, as well as first-time buyers and workforce buyers like nurses, teachers, police and firefighters, medical technicians and retailers,” said Walker. If more inventory hits the market during the second half of this year, it could be enough to moderate the huge pricing increases. In May 2022, Haywood County’s new listings ticked up 5% year-over-year, good for 1.7 months of supply. As of July 18, supply in Haywood had inched up to 2.4 months. Walker said a balanced market is considered to have six months of supply, but the additional inventory in Haywood does signal a move in the right direction. “Even as mortgage rates increase, they are still at a historic low,” she said. “The National Association of Realtors recently noted that home buyers who purchase a home today are still likely to see rising property values and increased home equity. That’s because supply is still relatively low compared to buyer demand, so home prices are likely to keep rising, although at a slower pace. When you couple fixed mortgage payments with the fact that rents are still increasing at record levels, it makes more financial sense to own a home and gain the equity.”
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Trends are becoming more apparent in the greater Asheville regional housing market
Real estate sales activity in the Asheville region*, 2022 January February March April May June New listings (year over year %)..................752 (-17%) ...................888 (-14%) ...................1,303 (-4%) ..................1,355 (-9%)...................1,591 (+5%) .................1,604 (-6%) Pending sales (year over year %)...............950 (-13%) ...................1,003 (-4%) ..................1,258 (-2%) ..................1,191 (-9%)...................1,253 (-2%) ..................1,178 (-5%) Average list price (year over year %).........$447,000 (+14%) .........$469,000 (+16%) .........$477,000 (+3.3%) ........$536,000 (+15%) .........$561,000 (+21%) .........$537,000 (+21%) Average sale price (year over year %) .......$418,000 (+13%) ........$432,000 (+17%) .........$449,000 (+14%) .........$449,000 (+10%) .........$489,000 (+14%) .........$499,000 (+17%) Days on market...........................................36..................................38..................................37..................................29 ..................................24..................................21
Haywood offers COVID guidance amid surge
available for everyone ages 6 months and up. Most people 5 and up are eligible for boosters five months after finishing the primary series. Some exceptions apply, check your booster eligibility here: cdc.gov/ coronavirus/2019-ncov/vaccines/boostershot.html#when-you-can-get-booster.
New drone technology will help emergency responders save lives in Haywood Haywood County Emergency Services has a new tool in the form of a state-of-theart flagship drone, which will be deployed starting this month under the Emergency Management department. For several years, Haywood County has benefitted from the assistance of volunteer drone pilots brought in on a case-by-case basis. Now with its own unmanned aerial system, Emergency Management drone pilots can respond more quickly to disasters with a full complement of tools at their disposal.
The new drone is a DJI M30T, capable of 41 minutes of flight time on full batteries. It is equipped with a wide-angle lens, a 200X digital zoom lens, a high-resolution thermal camera, and a first-person view camera. The drone also has the capability to carry a spotlight and speaker which can be used to communicate with people on the ground. It is also weather-proof, capable of withstanding rain, dust, dirt and a wide range of temperatures. “This drone brings new capabilities to Emergency Services that we believe will save lives in the future,” said Emergency Manager Zack Koonce. “It has everything on our wish list and will be used in lifesaving missions, as well as for emergency management tasks such as mapping and damage assessment.” The drone will also be available to provide services to other departments and agencies through mutual aid agreements. “We see this new tool as a huge benefit, not only to our department but to the county and to its citizens. In the past, such technology was out of reach, being too cost-prohibitive. As technology improves and prices come down, we anticipate tools like dronemounted thermal cameras will be essential to emergency response,” said Koonce. 17
Smoky Mountain News
Over the past two months, Haywood County has seen a sustained high number of new COVID-19 cases. Hospitalizations and deaths are up again as well, though fortunately not at the levels we’ve seen in past surges. As we navigate this latest surge, here is some practical guidance from Haywood County Health and Human Services: • If over 50 years old, get a booster. Those with two booster doses had a four times lower risk of serious illness or death, compared to those with one booster dose. People will still be eligible for an Omicronspecific booster this fall. Whatever someone’s age, protection against infection is close to zero if it’s been a while since infection and/or last vaccination. • If high-risk and infected, talk to your doctor about taking Paxlovid. This medication has been shown to markedly reduce the risk that someone will need hospitalization, but it must be started within five days of symptom onset. • Do not rely on the CDC community levels to estimate risk of infection. They indicate the risk of regional hospitals becoming
overwhelmed due to COVID, not when it’s time to take action for individual protection, especially in crowded, indoor spaces. • Increase ventilation. The concentration of virus in the air is what matters. That’s why indoors is riskier, especially when it’s hot and houses are closed up running air conditioning. Run a fan, keep exhaust fans running, add a portable HEPA filter-anything to keep the air moving. • Use antigen tests properly. Don’t trust a single negative test. Repeat in 48 hours to be sure. If someone is infected, they shouldn’t leave isolation until you are well and test negative, even if that takes longer than the CDC guideline of five days. Up to 50% of people will remain infectious after five days. • If you must go out, wear a well-fitting N95 or KN95 until well and test negative. • If you have no symptoms and want to visit someone high risk or go to a gathering, test 48 hours before the event and again the morning of. If both are negative, you can feel comfortable proceeding. • Vaccination appointments are available by appointment only, Monday through Friday from 8 to 11 a.m. and 1 to 4 p.m. Please call 828.356.2019 to schedule. Primary doses of Pfizer OR Moderna are
July 20-26, 2022
Source: Canopy Realtor Association Note: The Asheville region consists of Buncombe, Burke, Henderson, Jackson, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania and Yancey counties.
