GREEN Real Estate Trends & Appreciation - 2007-2008 - Asheville, N.C. Tops Lists

By
Real Estate Broker/Owner with Signature Mountain Homes and LAND- Asheville 1031 Realty, Inc. 209970

ASHEVILLE, N.Clook ahead to 2008 in asheville nc 
Real Estate Market OUTLOOK
It's "Red-Hot"  and GREEN

Do trends and statistics in land and home sales grab your attention? If you're like me, an avid real estate market watcher, they sure do, especially nowadays, and especially when it comes to the red-hot GREEN market..

Good News: In the Greater Asheville, N.C. area as we look out to 2008, we see on our glorious horizon "mountains" of opportunity with prosperous predictions for 2008 and "blue skies" as we look back at 2007. Check out these stats:

Population: Greater Asheville Area 398,009   
Asheville, proper: about 80,000 

Appreciation in the Asheville area: 
One-year change: 9.44%
Five-year change: 55.46%

 

New Construction: "GREEN" NC Healthy Built Homes...DUE in 2008: . . .        !!!   470 !!!!  . . .

The media might tell you that there are cloudy days in much of the market...  but "sunny days" (see photo above) are still to be had. And, as I  reviewed the happenings in the real estate market here in the Greater Asheville area, I recognized bright trends and forecasts.  Yes, to some extent, we have felt the effects of credit tightening and the sub-prime mortgage crisis, but popularity of green built homes has only increased, and here in Asheville, it seems to me that this-helps drive our market in a positive way.

Take for example:

and you will see how vibrant our market is.

By the way, the full  list of appreciation figures for  real estate markets across the U.S. can be found at the Office of Federal Housing Enterprise Oversight . Median home prices were supplied by the National Association of REALTORS®. Asheville ranked #9 in the real estate markets  that performed the best in terms of price appreciation in the third quarter of 2007. All of this is encouraging  news for buyers, sellers and investors.  

Now on to my very special area of interest in the real estate market: GREEN REAL ESTATE. . .I've compiled data (below) for "GREEN-Built" Homes, ECO-Friendly Developments/Lots, Farms & Land /Acreage (20-100 Acres), Farms & Land /Acreage (100-500 Acres), Horse/Equestrian Properties w/ Residential Amenities, Luxury Residential  and Second/Vacation Properties on at Least 5 Acres, and Special Gems for Baby Boomers.

2007-2008 Real Estate Market Review & Trends in Greenolina's Market Niche
Buncombe County & The Greater Asheville, North Carolina Area

"GREEN-Built" Homes and/or Energy Star
Closed in 2007: 30  (82 WNC Healthy Built Homes in total)
                  

Currently
Available Over $1M:  20 
Available  $500- $900K :  20
Available  $300-$500K: 19
Available  $200-$300K:  15
Available Under $200K: 2

NOTE: "GREEN" NC Healthy Built Homes...DUE in 2008: !!!   470 !!!!

Building Lots in "GREEN"/ Conservation Developments
Closed  in 2007 : 93

                  
Currently
Available Over $600K: 3
Available $ 300-$500K: 20
Available $ 200-$300K: 18
Available $ 100-$200K: 8
Available Under $100K : 5


LAND /Acreage (20-100 Acres)
Closed  in 2007 : 925

:                   
Currently
Available Over $1M: 112
Available  $500- $1M: 132
Available $ 300-$500K: 104
Available $ 200-$300K: 45
Available $ 100-$200K: 15
Available Under $100K : 0

Look for Part 2 of this report later this week . It includes stats  and news about

  • Horse/Equestrian Properties w/ Stables & Residential Amenities
  • LAND /Acreage (100-500 Acres)
  • Luxury Residential Properties on at Least 5 Acres and Second/Vacation Homes in the Mountains
  • Special Gems and a Note to Baby Boomers...Just FYI

In the meantime,  you can read the Best Housing Markets /  OFHEO  FULL REPORT  HERE  and I will be interested to read your comments on the info so far...Happy New Year.

Copyright © 2008 All Rights Reserved  Asheville ECO Real Estate: Trends, Legacies & The Home Place Greenolina  


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Asheville NC Real Estate Journal for Mountain Homes and Land Legacies- Asheville 1031 Realty© 2014. My Designations: NAR GREEN®, EcoBroker®, Eco Certified ®Real Estate Consultant, ePRO®. Unauthorized reproduction of any information including photos and graphics on this site is a violation of existing copyright laws.  All rights reserved.


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Rainmaker
201,028
Stephanie Edwards-Musa
thredUP.com - The Woodlands, TX
knitwit at thred UP

HI janeAnne,  this is an interesting list.  It seems as though you guys have quite a few of Green Built homes in the area...Also amazing how your population has gone up.  55% in 5 years?  WOW!

January 15, 2008 01:23 PM #1
Rainmaker
245,400
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

janeAnne, How far from the ocean are you? Your stats look good..

Bill Roberts

January 15, 2008 03:11 PM #2
Anonymous
Anonymous
John Thomas
Indeed we are so lucky to live in a place somewhat shielded from the current market conditions. There are certainly more and more green homes available. Even conservative hold outs realize that it's not about some far out ideals, but about conserving energy, the environment and $$. Now that is conservative.
January 17, 2008 04:18 PM #4
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Steph~

 It's our appreciation (not population) that is on the major rise...although I must say, seems as if everyone wants to come to our area. Asheville , after all, is the "Happiest City in the USA"...and that is true.

 

January 23, 2008 10:20 PM #5
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Bill~

How far from the ocean? That depends on how fast ya' drive/fly (I'm grinning ear-to-ear)...OH! and also if you have a big SUV and need to make stops for gas, or an energy efficient vehicle...(again...grinning ear-to-ear)...but seriously..it takes me about 4 hours. I am not saying if I am a fast driver. But I will say, I do drive an energy efficient vehicle. THX for comment on good-looking stats.

January 23, 2008 10:24 PM #6
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Eloise~ 

You are so right about stats not being carved in stone.

Even in various areas in our 5-county MLS we see different appreciation percentages. If you were to relocate here and wanted a 20 acre parcel for you and your horses, and you invested in 20 acres that was m ostly a mountain (with say 2 acres of pasture) the price point would be a lot different than 20 acres for hunters/jumpers with a stream and easy accessibility to Asheville.

January 23, 2008 10:28 PM #7
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John~

Thanks for picking up on the "green" theme here. You commented, "...There are certainly more and more green homes available. Even conservative hold outs realize that it's not about some far out ideals, but about conserving energy, the environment and $$. Now that is conservative. "

I enjoyed your play on words.

January 23, 2008 10:30 PM #8
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Everyone~

Do trends and statistics in land and home sales grab your attention? If you're like me, an avid real estate market watcher, they sure do, especially nowadays, and especially when it comes to the red-hot GREEN market..

Please let me know how it is going in your "neck 'o the woods"...
__~o
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(*)/'(*)

January 28, 2008 10:50 AM #9
Rainer
13,128
Gabe Swinney Asheville New Urbanism
Gabe Swinney - Asheville, NC

janeAnne,

 

Great post about great news.

Its always a pleasure  

January 28, 2008 11:34 AM #10
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