To be quite honest I LOVE it when people ask me this question because most people think that the market in McDowell County is not doing good when in all actuality IT IS! Yes it may not be as great as it was in 2005 or in our "peak years" but the fact of the matter is, is that the market is always changing. It always has, always will. Its the cycle of life :) Things go up and things go down... people just tend to forget about the "down" times when things are "up".
So I decided to do a little research and pull statistics from 2008-2011 to show you the "shift" of the real estate market in McDowell County for residential property sales.
See graph below:
In 2008 there were 170 residential properties that sold. 273 New listings. 62% of market sold
In 2009 there were 164 residential properties that sold. 424 New listings. 39% of market sold
In 2010 there were 193 residential properties that sold. 464 New listings. 42% of market sold
In 2011 there were 193 residential properties that sold. 396 New listings. 49% of market sold
***(Info gathered solely from McDowell MLS residential property sales)***
When I first did this graph I was taken aback by the decrease of residential properties that sold from 2008 to 2009. We left a "sellers market" and said hello to a "buyers market." Please keep in mind though that this isn't the first time our market has shifted before...and I guarantee it won't be the last either!
As you can see from the 49% of the market that sold just last year, we are slowly moving back up to a more "stable" market.
This my friends is called REAL ESTATE :) It is every changing and full of surprises :) Gotta love it!
Hope you all have a MAGNIFICENT MONDAY and enjoy the beautiful SUNSHINE!!!!
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