Asheville home sales slump
Existing home sales were down 17 percent in April in the Asheville area, the sixth consecutive month that saw a decline.Article Link (via AC-T).
The number of homes sold through the Asheville Multiple Listing Service for the month was 244, down from 293 in April 2006. The average price of a home sold rose 7 percent to $283,385 but the total price of all homes sold dropped 11 percent.
An acquaintance recently sold an Asheville area home and bought an existing house in a different county for the same price--the new home has three times the space. Do you think people are paying too much for the perceived value of Asheville residency? One thought I have is this: who would by an existing home for in the $280-$350 range when one may contract a new home purchase?