Rick Andrews' Market Report
Brasstown, NC 28902
Single-Family Homes
Your Mountain Realtor | 828-557-9139 | rick@callrickandrews.com
Brasstown, NC 28902
Fri Jul 26 2024
This week the median list price for Brasstown, NC 28902 is $499,950 with the market action index hovering around 27. This is an increase over last month's market action index of 22. Inventory has decreased to 8.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
The market shows signs of warming up, with sales demand recently increasing faster than inventory. Prices have not yet responded as the market is still working through excess inventory. It’s unlikely that we’ll see prices level off or move higher until the MAI sustains its upward trend and maybe not until the inventory is depleted enough to create a Seller’s market.
Real-Time Market Profile
| Median List Price | $499,950 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $233 | |
| Average Days on Market | 24 | |
| Median Days on Market | 28 | |
| Price Decreased | 0% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 8 | |
| Median Rent | ||
| Market Action | 27 | |
| Slight Buyer's Advantage | ||
Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $687,400 | 2,600 | 5 - 10 acres | 3 | 2.8 | 4 | 0 | 0 | 28 |
| $504,750 | 0 | 1 - 2.5 acres | 3 | 3 | 19 | 0 | 0 | 10 |
| $499,450 | 2,216 | 1 - 2.5 acres | 2 | 2.5 | 12 | 0 | 0 | 28 |
| $402,000 | 0 | 5 - 10 acres | 3 | 3.3 | 29 | 0 | 0 | 28 |