Henderson_Market Report

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Henderson County Ruiz Report December, 2024

Understanding the local real estate market is one of the most important aspects of buying or selling a home. Whether you’re debating how much to offer or if you should accept an offer you’ve received, market knowledge is power!

Making an informed decision involves staying current with both the “macro-market” as well as the “micro-market” for your unique situation. Our Keller Williams Professionals agents pride themselves in being a local market experts, and one of the most important things we can do for our clients is to empower them with that same information.

With that in mind, we’ve commissioned this month’s Ruiz Report to make sure you’re as up to date as possible with current market conditions, using accurate data directly from the MLS. Clicking any of the price ranges on slide 4 will take you to available properties on our website so we can get started ASAP! Please enjoy the area’s most informative market report, on us. Don’t hesitate to send us an e-mail at or give us a call at 828-254-7253 if you should have any questions.

Sincerely, Jeff Stewart Team Leader

Buncombe County Ruiz Report

At A Glance: Volume NEW LISTINGS

124

28% 23%

(vs. last month) (vs. this month last year)

UNDER CONTRACT

2% 32%

132

HOMES SOLD

153

37% 9%

Henderson added 8 less new listings to the market than it took off (put under contract), which decreased the overall supply. Home sales (closings) increased in December, just remember that many of those homes went under contract in a previous month.

Amount for month

+ / - Change

1

% Change vs. last month % Change vs. this month last year

Henderson County Ruiz Report December, 2024

At A Glance: Velocity MEDIAN DOM

27

0% 29%

(vs. last month) (vs. this month last year)

MO. ACTIVE LISTINGS

7% 43%

689

MO. INVENTORY

3.4

10% 49%

The total number of active listings decreased 7% compared to November, 50% of homes went under contract in 27-days or less, and at this rate there’s about 3.4-months of supply to go around.

December was a Seller's market.

Amount for month

+ / - Change

2

% Change vs. last month % Change vs. this month last year

Henderson County Ruiz Report December, 2024

At A Glance: Pricing AVG. LIST / SALE

98%

1% 0%

(vs. last month) (vs. this month last year)

AVG. SALE PRICE

3% 4%

$508k

ORIG. LIST / SALE

96%

2% 0%

The average price of a home in Henderson County was $24k less than it was this time last December. On average, properties sold for 98% of their list price at the time the offer was made, and 96% of the price they originally listed for.

Amount for month

+ / - Change

3

% Change vs. last month % Change vs. this month last year

Henderson County Ruiz Report December, 2024

Click to see properties!

Henderson In December

Price Range

Active Listings

New Listings

Under Contract

Under Contract (%)

Pending Ratio

Homes Sold

Avg. Sales Price

Avg. List/Sale

Avg. DOM

Median DOM

Months of Inventory

Expired Listings

Listings Withdrawn

$0 - $199K

11

3

4

3%

45%

3

$91,667

72%

56

19

1.6

1

N/A

$200K - $249K

17

3

3

2%

21%

5

$216,656

97%

23

15

2.4

N/A

N/A

$250K - $299K

39

16

12

9%

38%

6

$268,834

99%

20

13

2.2

2

N/A

$300K - $349K

45

13

13

10%

41%

17

$316,868

98%

15

12

1.9

N/A

N/A

$350K - $399K

85

14

22

17%

35%

23

$374,030

99%

85

95

4.1

5

N/A

$400K - $449K

80

15

15

11%

42%

20

$423,545

99%

97

75

2.8

N/A

N/A

$450K - $499K

84

16

17

13%

48%

26

$468,511

99%

37

23

2.4

N/A

N/A

$500K - $599K

87

12

17

13%

32%

14

$537,832

98%

40

27

3.0

3

N/A

$600K - $699K

49

9

11

8%

24%

15

$635,380

98%

44

13

3.7

2

N/A

$700K - $799K

34

5

3

2%

15%

6

$733,559

99%

117

89

4.4

1

N/A

$800K - $899K

30

4

3

2%

19%

2

$787,450

97%

202

24

5.7

N/A

N/A

$900K - $999K

24

4

2

2%

28%

7

$933,622

97%

58

58

5.0

1

N/A

$1M - $1.49M

56

8

9

7%

22%

8

$1,119,750

96%

59

17

6.2

2

N/A

$1.5M - $1.99M

31

2

N/A

N/A

3%

1

$1,540,000

99%

N/A

N/A

16.6

1

N/A

$2M +

17

N/A

1

1%

6%

N/A

N/A

N/A

66

66

25.7

1

N/A

County

689

124

132

--

33%

153

$507,731

98%

49

27

3.4

19

N/A

4

Learn the lingo Active Listings: This is the total number of listings

that were for sale at any given point during the month.

Under Contract: This is the total number of listings that accepted an offer to purchase during the month.

Under Contract (%): This is the “Under Contract” column represented as a percentage of the county.

Pending Ratio: This ratio is calculated using a snapshot taken at 11:59pm on the last day of the month. It used to show a price range’s competitiveness by comparing the number of listings under contract to the total number of listings on the market at the time the snapshot was taken (active + under contract).

Months of inventory represents how long it would

take to deplete the current inventory assuming no new homes are put on the market. It's commonly used to determine the health of a particular market.

Between 0-4 months of inventory is considered a seller's market because supply is relatively low, which means that sellers have more control to set terms or raise prices. 5-7 months signals a balanced market there is a healthy mix of buyers and sellers. 8 or more months of inventory indicates a buyer's market, which means buyers have more negotiating power.

Seller’s Market

Buyer’s Market

Henderson County Ruiz Report December, 2024

Volume & Activity ➔

➔

➔

5

The number of active listings decreased by 7% in December. Total Active listings, the number of properties listed for sale at any point during the month, was up 43% compared to last year.

Total homes under contract decreased 2% from last month, but Henderson had 32% more homes under contract in December than it did this time last year.

Overall volume was down 6% from last month but up 41% from this time last year.

Henderson County Ruiz Report December, 2024

Listings & Pendings ➔

➔

➔

New listings decreased 28% from last month, but were up 23% from last December’s numbers.

2% less homes went under contract, but Henderson had more homes going under contract than this month last year, up 32%.

Pro Tip: keeping an eye on the difference between homes added to the market (new listings) and those taken off (by going under contract) is the best way to gauge supply & demand!

6

Henderson County Ruiz Report December, 2024

Home Prices ➔

➔

➔

The median price is the “middle price,” meaning half of the homes sold during the month were cheaper and half were more expensive than the median. The average price is the total sales divided by number of sales.

7

The average home price in Henderson County decreased 3%, and homes were valued 4% lower compared to last December.

The positive home value appreciation trend seems to be holding despite interest rates.

Pro Tip: monthly price fluctuations are less indicative than annual trends for understanding market shifts!

The consistently higher average vs. median home price tells us that Henderson’s high-end market is strong, with prices significantly higher than the rest of the market.

Henderson County Ruiz Report December, 2024

Days On Market ➔

➔

➔

Homes went under contract 20-days faster, on average, than they did in November, and the median days it took to sign a purchase contract was 27-days (!!!).

Homes between $300-349k sold fastest in December, with a median 12-days on the market, followed by homes in the $250-299k range, which took a median of 13-days.

Homes in Henderson are selling quickly due to a combination of extremely low inventory and high demand for homes.

The median DOM is the “middle DOM,” meaning half of the homes during the month went UC faster and half took longer than the median. The average DOM is the total DOM divided by number of sales.

8

Henderson County Ruiz Report December, 2024

Contract To Close ➔

➔

➔

9

Contract to close time took an average of 1-days more compared to last month, which was 8-days slower compared to last December.

Homes valued valued up to $199k took among the longest to close. December closings data put that segment at around 165-days, on average.

Homes valued valued between $800k-899k closed fastest, closing in ~18-days, on average.

Henderson County Ruiz Report December, 2024

Contract To Ca$h ➔

➔

➔

Sellers got paid an average of 19-days faster after listing their homes according to December sales data, but 25-days slower than Dec., 2023.

This decrease was mostly due to a reduction in time spent on the market (DOM) since the time spent during the contract to close process went up.

Homes valued valued between $1.5M-1.99M sold fastest, averaging 26-days, followed by the valued between $900k-999k price range which took 52-days, on average.

The median Contract to Ca$h is the “middle number,” meaning half of the homes that closed during the month got paid faster faster and half took longer than the median. The average Contract to Ca$h is the total time it took across all price ranges divided by number of sales.

10

Henderson County Ruiz Report December, 2024

Methodology Data for this report was pulled from Canopy MLS for Single Family and Condo/Townhouse properties on January 3rd, 2024. Realtors are required to update their transactions on the MLS within 48hrs, so while most records for the month should have been accounted for, any updates that occured after the report was pulled will not have made the cut. This should not have a material effect on the data given the overall volume of transactions.

Please send me an e-mail if you have any comments, questions, requests, or corrections.

See below for some relevant formulas.

Months Inventory =

Active Listings This Month Pending = 12-Month Pending Homes Average

Appendix

Under Contract End Of Month Active End Of Month

Henderson County Ruiz Report December, 2024