Excellent, newsy post over at Iwanna blog on Asheville’s limp real estate market, a perfect market for buyers:
The buyer’s market rages on for residential real estate in Asheville.
Fresh new data on Zillow.com shows fewer and fewer homes are being sold in the area — to lows not seen in more than 5 years.
The percentage of homes sold in Buncombe County in the past 12 months dropped to just 2.2% in July and 2.5% in Asheville proper. In early 2007, about 10% of all homes in the area were being sold.
Not surprisingly, given the country’s economic woes, over 90% of the homes in Asheville have declined in value over the past year. In 2005, it was under 10%.
The latest data shows about 17% of the homes being sold in Asheville are being purchased for less than the previous owner paid — and that excludes foreclosure transactions.
Home prices are dropping about 6% every 30 days, according to Zillow’s latest data.
Now may be the time to buy, and you can check out area homes for sale on Iwanna.com.