George Real Estate Group Radio Broadcast

What The Data Really Says About Hendersonville Real Estate

• George Real Estate Group

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Headlines say housing is frozen. Our local data says otherwise. We break down what is actually happening in Henderson County and why more people are choosing to move even if it means giving up a three percent mortgage.

We start with the numbers: single family home sales are up roughly 10 percent year over year, inventory sits around a four and a half month supply, and the average price has eased only about 1.5 percent. That points to a still competitive seller’s market with more normal timing, not a collapse. We talk through days on market, how increased selection helps both buyers and sellers, and why national inventory returning to 2019 levels is good news for smart shoppers.

Then we dig into the human side. Jobs shift, families grow, priorities change—those five D’s (diplomas, diapers, divorce, downsizing, death) drive real estate decisions no matter the rate cycle. We explain how the lock in effect is easing, why fit can matter more than financing nostalgia, and how to think about moving when your current home no longer works. You will also hear key tax insights that protect your equity, including the 500,000 home sale exclusion window for surviving spouses, plus practical strategies for primary homes, investments, and 55 plus options.

We close with real listings and timely price improvements across a range of budgets, from a character filled farmhouse to low maintenance one level living and a value friendly retirement community option. If you need clarity on timing, pricing, or next steps, we are here to help with straight facts and a clear plan. Subscribe, share with a friend who is debating a move, and leave a review to tell us what topic you want next.

SPEAKER_01:

Hello, friends. Thank you so much for being here. This is the George Real Estate Group podcast, which is a production of our live weekly radio shows hosted on multiple radio stations here in Hendersonville, North Carolina. The George Real Estate Group serves Western North Carolina and upstate South Carolina, and it is a privilege to share positive news about our local real estate market and community. Thanks so much for subscribing. And of course, if you have any real estate questions or if we can help you in any way, be sure to reach out. Visit us at George Real Estate Group Radio.com for more information. Good morning and welcome to the George Real Estate Group Live Radio Broadcast here on WHKP. Every Thursday morning, bringing you positive news about your local real estate market community. So grateful to be here with you and so much to be thankful for. Can you believe we're in December? Time flies when you're having fun. And I'll tell you the real estate market continues to move. I'm sure if your Thanksgiving table was similar to ours, everybody was asking about the housing market and you know what's going on and what's going on with the you know, is this is the sky fallen? Is the real estate market moving? I mean, what is the news? I mean, you've got to be careful about what the news is saying. But and I have some actual data. I mean, it's it's data that we look at regularly to say and share with our clients what's going on in the market, what's actually happening or not happening. And again, this this this the numbers tell a story, and we can talk about what's happening uh with the real estate market. But before we do that, if you're tuning in for the first time ever, the George Real Estate Group, we're located in Flat Rock, right next to the Flat Rock Bakery, Hubba Hubba Barbecue, Campfire Grill, our friends at Habaloo, amazing local and independent businesses and restaurants. The George Real Estate Group's local and independent as well. We've had the privilege of helping over 1,600 families throughout the years. We've we've continued to grow every year. We're hiring more agents. We have incredible uh staff, incredible agents. We love serving the community with real estate. And if it's your personal home or investment property, or maybe you're thinking through uh your maybe you own land, maybe you have commercial real estate, maybe you have you know investment real estate, maybe you maybe you're a business owner and you're looking to you you're maybe you're you're you're selling your business and you're trying to decide what to do with the real estate. Maybe you have land they have a lease on. There's so many different options. And again, we we look strategically, we looked strategically at um your situation, whether it's your personal home or an investment property, whatever it might be, we'd love to have the conversation. There's there's always no pressure, no cost, no obligation to have a consultation about your unique home, your unique investment, your unique situation. We'd love to have the conversation. Call us directly at 828-393-0134, 828-393-0134. We'd love to have the conversation and meet with you and hear your story about what's going on and provide clarity and information on what's going on in the market. The market compared to maybe what you think or what you hear in the news and you know the housing market and what and what's going on, and we can really provide clarity and provide you information so you can decide what's right for you. We're here every Thursday morning right after the 10 o'clock news. We are also uh we also podcast our radio show. We podcast all of our radio shows. You can find that on your favorite podcast platform. We also, every Friday morning at 8 45, we provide we love sponsoring the Hometown Hero series. Uh, tomorrow morning, our hometown hero is Zoe Hewitt. And Zoe's a senior at Carolina Day School, and she's a special young lady. She rallied her classmates to learn about the important connection between people and animals. And so from that, Kennel kindness was born. Students are learning how to make treats, toys, blankets, adoption pamphlets, pamphlets, and posters for dogs at Brother Wolf Animal Rescue. And so everyone's so proud of Zoe, and she'll be here tomorrow morning, 8 45, at our George Real Estate Group Hometown Hero Series. And we love sponsoring the Hometown Hero series. And again, providing just a place to continue to share stories. Everybody has a story, and it's important to share that story. So, what is happening in the local real estate market, locally, Henderson County, over the last 12 months, we've had over 1,600 homes, single-family homes sold. And compared to the previous 12 months, at some 1,460, we've had over a 10% increase. We've had a 10% increase year over year in the number of single-family homes sold. That's significant. And you might say, well, what why is the you know what's happening? What you know, days on the market are increasing. And part of that is because of the increased inventory. Currently, there's over 600 active single-family homes in the market. Now, if you do the math, you know, if we're averaging 135 single-family homes a month selling and current inventory, we have like a four and a half month supply. It's clearly a seller's market. Now, the time homes are are taking to sell are increasing. We've had some of 40% increase days on market. I mean, it's taking almost two months. And by the way, let's put things into perspective. I mean, I remember when it took four and five and six months to sell homes, then we had the extreme COVID market where you know things were taking you know two weeks to sell, and then you know, it went up to a month. And so maybe it feels like it's slower, and it is when you compare to the you know when that just extreme market where homes were selling in in a week or two. Now it's more it's leveling out and closer to you know two months on the market is more average, and it in this part of the supply and demand, increased inventory levels, but we still are in a seller's market. Economists say six-month supply is considered a balanced market. You know, we're not in a buyer's market, even though maybe people might think that or feel that because it's taking a little bit longer. It's also fascinating. The average sales price over the last 12 months is at$540,000 compared to$548 in the previous 12 months. So, I mean, there's really been about a 1.5% drop, but one and a half percent decrease in pricing. You know, so the sky is not falling, and the data reinforces how important it is to be up to date and to understand and to have clarity about you know the real market facts. Also, as we're setting our expectation, our clients' expectations, realistic expectations, and we still have confidence in today's market. We're still we've actually had uh almost a 25% increase with our clients and number of homes we've sold in in the business that we're having this year versus last year. The markets had a 10% increase. We're pacing ahead of the market actually in our growth, which we're so grateful for. We love serving the community through real estate and we love advocating for our clients. We love walking alongside our clients, helping our clients navigate through you know the buying and selling process. I mean, it's truly a privilege to help our clients, you know, with their real estate. And it's we know real estate happens around life. It could be a really positive reason, you know, why uh our clients are buying or selling. It could be a challenging reason, you know, it could be positive or challenging, and whatever it is, we're here to work and advocate and work for you and our clients. I mean, we I want to give a congratulations to the Amy team. They recently closed yesterday on a beautiful home in Flat Rock, and they work together going above and beyond. Uh, and they genuinely love helping their clients through every step of the way. But congratulations to our clients and to the Amy team on that. Uh, they they successfully had a closing yesterday. Uh, and again, in the month of December, we have a number of additional homes and and sales that are uh that are scheduled. Uh, we are actively busy this time of year. It might seem that the the people take uh you know time off, but we're we're still busy even during the holiday season. Also, um, we are we are adjusting prices as needed. Um, we did a a$15,000 price adjustment on this incredible, charming fountain farmhouse. So much character, has a workshop, it has a basement storage. Uh, it is a beautiful home at 1600 Orchard Road, and it's the kind of home that just whispers possibilities. It's a cozy farmhouse tucked in the trees, and again, it's that great location and price at$295. And so we just did a uh a price adjustment there, price improvement.$1,600 Orchard Road in Flat Rock at$295. Awesome property. You can check all of these homes out on our website, realestate by greg.com. You can also follow us on Facebook and and Instagram. We also work in a retirement community that's not on the MLS. You might say, well, what's what's that about? And this is a unique opportunity. This is in a 55 plus community, uh, and it is a great neighborhood in uh on 551 Dove Trail. 551 Dove Trail, and it's a great property, and it's a 55 plus community, and this home here is awesome. Recommend checking this one out. Uh 551 Dove Trail in Hendersonville. It's a retirement community, one-level living. Check that one out in Dana Hills, and it's a it's in a what's called a leased lot community. Um, you pay a small amount monthly and includes your lot lease, includes amenities, and it's a 55 plus community. 551 Dove Trail is an awesome retirement community. You can check that one out uh when you when you have a moment. You can go to our website again. And that home, by the way, is only$159.9.$159.9. Great, great opportunity in Dana Hills. So the market is moving. We are, and guess what? Price just adjustments are happening. Here's another price adjustment at 4 North Frederick Lane in Hendersonville. This home is now 260 uh for this awesome property. Uh, three bedrooms, two baths, 1,500 plus square feet, one level living, attached, double car garage. And this is only at 260 at 4 North Frederick Lane in Hendersonville. Another property that we have is at 305, two Red Apple Drive. It's a three-bedroom, two-bath for 305, new updated kitchen, and so much more. Um, bright and open, convenient, close to town. It could be a first-time home buyer, could be a downsizing option, great, could just be an investment property. It's a real world win. And two Red Apple Drive in Henderson. This is just a sampling of the different homes that we have for sale. Awesome properties. And as an example, we work in all price price uh ranges. I mean, uh, you know, we we're we love advocating for first-time home buyers, and and a lot of times that's in some of the more affordable price ranges. And then um, you know, just recently, in a number of homes we've closed uh in the million plus dollar range. And so across the board, we're happy to help. Also, we work with uh commercial and investment properties. We have multifamily properties available for sale. If you're an investor looking for opportunities, we have those two. So again, across the board, whether it's your personal home, whether it's your uh you know, investment property, maybe it's land that you own, family land, maybe your planning ahead with your estate and your trust. I mean, what if whether it's strategic tax planning, whatever the situation is. I mean, we we're working with investors. Uh, you know, there there are ways to to minimize. I mean, if you're if you're having to pay money to the government with your taxes, why not take advantage of what's allowed with tax codes and investing, and and there's there's strategies you can do that again, these are tax codes that you can use for your benefit. Instead of writing a big check to the government, you can do you can use your money with real estate investments, and there's strategic ways to do that too, and we can we help our clients navigate through that all the time. You know, one thing that continues to be a conversation is the interest rates. You know, interest rates are a big topic because so many people took advantage of when it went into the two and three and four range, and so many people, you've probably a lot of homeowners have thought I'd like to move, but I don't want to give up my three percent rate. And of course, that's a very fair statement, and it's and that rate has actually been one of the biggest financial wins in in for for a lot of people, and and it can be hard to let that go, but there's some things to remember. You know, the great rate that you have won't make up for a home that no longer works for you. Life changes, and sometimes your home needs to change to reflect what your life needs to look like. And so making a decision just around the rate can hold you back, and so you're not the only one making that choice. Sometimes you might have to make a change with your home as your life has changed, and so this lock-in effect of so many homeowners have been locked in and they've been frozen in place by something the experts call the lock-in effect, and that's when you won't move because you don't want to take on a higher rate for your next home. But the data from the the federal housing finance agency is showing that the lock-in effect is slowly starting to ease for some people. You can only hold on. I mean, again, if your family's growing, maybe you got in at that 3% rate for your starter home, but guess what? That home doesn't work for you anymore. So the share of homeowners with a mortgage rate below 3% is slowly declining as more people move. And so while some of the people with a rate over 6% are first-time home buyers, the number of homeowners with a rate above six percent is rising as others take on higher rates for their next home. So it might not seem that dramatic that the change, but it's actually a pretty noteworthy shift. And the share of mortgages with a rate above six percent just hit a 10-year high. And so it shows people are getting used to today's rates as the new normal. People just can't put their lives on pause anymore. Your your job changes, your your family's growing. You know, maybe the house that you have that worked for you five years ago for your current for your priorities then aren't matching your priorities now, and so the the house that was the perfect fit is no longer the fit anymore, no matter how good the rate is. Which is okay. Life happens, therefore, real estate happens. It's so fascinating to report, as I shared earlier, we've had a 10% increase in the number of single-family homes selling in Henderson County in the current 12 months versus the previous months there during the previous 12 months. Isn't that fascinating? And that's then the rate environment that which we're in in the six and seven percent interest rates. And so, this is a quote by the econom uh the head of economic research at Redfin said this more homeowners are deciding it's it's worth moving, even if it means giving up a lower mortgage rate. Life doesn't stand still. People get new jobs, grow their families, downsize after retirement, or simply want to live in a different neighborhood, and those needs are starting to outweigh the financial benefit of clinging to a rock bottom mortgage rate. And they there's these we've shared this before. There's they they they talk about the five D's of life motivators. You have diplomas, people with college degrees typically earn more, and that adds up to more buying power. So maybe you bought your home when you were younger, and now that you've graduated, have a rising career, you're ready to move up. How about diapers? You've outgrown your space, you're welcoming a new baby. Maybe you're uh maybe it's a new grandbaby. Your current home might not cut it anymore. And of course you have divorce, it's it's ending a marriage, or or maybe you're starting a marriage, but it you know, life you have a new family formation, or maybe again it's a divorce, it can create the need for a new place to call home. And then downsizing, you're ready to downsize. Maybe the kids have moved out, and it's time to simplify. It could be the smaller house, less maintenance, more freedom. And then ultimately, all of us will face this, and it's and well, and I'm not talking about taxes, but death, you know, if you've recently lost a loved one, maybe you realize you want to be closer to family. Life's too short to live far from the people who matter most. And the thing is, there and and by the way, uh, and and I don't say this lightly, we've walked alongside so many of our clients that have lost a loved one, and it's it's the grief is real. By the way, grief is not a straight line. You might be okay one day and you're not okay the next, and then and time doesn't always make that better. You know, they do recommend waiting a year before making any major decisions after the death of a loved one. Now that works in the and maybe you know this, maybe you don't, but you know, when you're selling a personal home, you get a$250,000 tax exemption. The first$250,000 of profit, you know, you pay if you sold your house as an individual, the first$250,000 of profit, you know, after what you paid for the home and your expenses, but you don't pay$250,000 if you lived in the home, you don't pay taxes on that. If you lived in the home two out of a two out of a five-year period, if you're married, it's it's$500,000, it's$250,000 per person. Did you know that a surviving spouse can take advantage of their of their spouse that had passed their$250,000, which in then that can make a significant difference in your life moving forward, life after the passing of a spouse, where if you sell the home within two years of the passing of your spouse, you can still take advantage of that tax rule. That tax you're not paying taxes on your 250 and your your deceased spouse's 250. Can you imagine the difference that can make in your life if you're having to move into a retirement community? If you're moving into a and maybe you're downsizing, maybe you're moving in with family, but it these are details, and again, working with a real estate professional that understands the tax strategies, understands the tax implications that can help guide you. Of course, we're gonna refer you to your tax advisor, but we understand these nuances and ultimately to guide you and to provide clarity for you as you're walking through this. Whether it's your your personal home or investment property, we are looking at the bigger picture and looking strategically uh with you and on your behalf. But whatever the reason is life is happening, thinking about maybe buying or selling the low rate, of course, is great, but if but if it but if staying just because of the rate means putting your life on hold, maybe that doesn't work for you anymore. According to Realtor.com, nearly two and three potential sellers have already been thinking about moving for over a year. So that's a long time to press pause on plans. So your family's needs, your family's goals. So maybe the the question isn't should I move? Maybe the question is how much longer am I willing to stay somewhere that no longer fits my life? Because we've already seen rates come down from their peak earlier this year, and they're expected to ease a little bit more in 2026, but so when you stack that on top of every and very real reason you may need a new home, it may be enough to finally move the needle. We've seen this. I mean, this is my 20th year of my broker's license. Life is happening, therefore, real estate's happening. It's not the economy's irrelevant, interest rates are irrelevant. We see sales. I mean, and I say that again, maybe not again, those things are certainly considered, but if your life is changing or your situation is changing, those aren't always the the determining factors for why someone's buying and selling. I mean, we continue to see, and and this is the market's the market, the interest rates are the interest rates, but because life happens, real estate's happening, and we've walked through and walked alongside our clients, it's a privilege and honor to help our clients navigate through life. We it's a privilege to hear their stories, it's a privilege to understand what their dreams and their goals are, and the then us come alongside with clarity about the markets, because you know, life doesn't wait for the perfect rate, and maybe you shouldn't either. So with rates coming down from their peak, they're forecasting them to dip slightly, moving might be more possible than you think. And so that's where we can provide information on your unique situation, your unique home, what your dreams and your goals are. The thing is, there's more options available now than than a year ago. Again, if if you're looking to buy, there's more homes for sale than there were a year ago. According to realtor.com across the country, there's more than one million homes on the market for six straight months. That's something that hasn't happened actually since 2019. So buyers have more options, sellers have more places they can move to next. And then affordability, there is a downward trend in rates. But if you're waiting for prices to come down, the data doesn't point to that happening. Has it softened? Yes. Is it normalizing? We'll we'll find out. But in the last 12 months versus the previous 12 months, we've only had a 1.5% drop in the average single-family home price in Henderson County. I mean, that's significant. So, of course, every market's different, every neighborhood's different, every community's different, but you know, some areas are seeing prices go up, others are seeing you know those huge price spikes that happened a few years ago leveling off. Some are seeing some small corrections, but across the country, nationally, you know, experts surveyed by Fannie Mae project home prices will keep rising or just at a slower, more normal pace. So your home, your unique situation, all those things that come into play. We pr we love having a consultation with our clients. We love whether and it's not about you making the decision right then to do anything. It's our our job is to provide clarity and to provide information and and and and data so you can decide what's right for you. Buying or selling a home is usually the biggest financial transaction you'll do in your lifetime, and having an expert to walk alongside with you to provide clarity. Maybe you're looking to buy and then sell, maybe you're looking to sell and then buy. I mean, but we're having conversations every single day, and we're grateful. It's an honor and privilege to serve the community through real estate. We're just as busy now in November and December as we as we are all year. We've helped more people already this year than we did last year, and we continue to see that trend. We're hiring more agents, and maybe you thought about a career in real estate. Maybe you're currently with, maybe you currently have a real estate license and looking for something different. Uh, maybe uh considering the team approach, we've had the privilege of working together as a team for a number of years. It's amazing to see the team collaboration ultimately for our clients' benefit. And and if we can help you uh with your real estate career, we we'd love to have the conversation with you. Maybe you're looking for something different, maybe for a change, maybe you want to hear what other options you have. We'd love to have that conversation. We just love, again, we're we're enthusiastic. We we you can maybe can tell in my voice. This is this is I don't feel like I'm working. I love helping our clients, I love helping our agents, I love uh, you know, we love sharing information, we love advocating, and we're here to help. And so find us online realestatebygreg.com. You can follow us on social media. I mentioned the different listings, I mentioned the different um, you know, uh price adjustments, I mentioned the closings. It's always fun. Follow us on social media, Facebook and Instagram, George Real Estate Group. You can also follow us on your favorite podcast platform. We podcast all of our radio shows. And always tune in tomorrow, every Friday morning at 8:45. We love sponsoring the Hometown Hero Series and hearing amazing uh men and women and their stories and the impact they've had on this community. Community is what it's all about. We certainly saw that how the community came together after Helene, and and we continue to see that. We continue to see the community come together. But you know, it's it's the people that make our community what it is, and we're grateful to be part of it. So find us online, realestate by greg.com, follow us on social media and Instagram, and and follow us on your favorite podcast, platform George Real Estate Group Radio Show. Tune in tomorrow morning at 8 45 for the George Real Estate Group Hometown Hero Series. We're here every Thursday morning right after the 10 o'clock news. Uh come by, stop by and visit us at our office uh 2720 Greenville Highway. Uh tomorrow morning we're gonna have a great conversation with our hometown hero, Zoe Hewitt. And she's a senior at Carolina Day School and just amazing what she's been doing with her nonprofit that she created. But thank you so much for tuning in. Grateful to be here with you. There's the music. Have a great day. Can you believe we're already in December? I know you guys, my children already gave me their Christmas list. I'm gonna start working on that. I hope you have a great day. Have a great week. We'll see you tomorrow morning. You've built a lifetime of strength, wisdom, and independence. And here's the best part. You still have it. Every decision, every step, every next chapter is yours to choose. Selling your home isn't about letting go, it's about opening the door to more freedom, more time for what you love, more energy for the people and passions that matter most. At the George Real Estate Group, we believe independence isn't behind you. It's right here, right now. Our team goes beyond buying and selling. We're here to help you protect your wealth, preserve your legacy, and make sure Uncle Sam doesn't become your biggest benefactor. We'll guide you every step of the way towards your next chapter, your next opportunity, and your freedom on your terms. Call us at 828-393-0134. Find us online at realestatebygreg.com.

SPEAKER_00:

Thank you for listening to the George Real Estate Group Podcast. Tune in next time for more industry news, updates, and real estate tips. You can reach Greg, the George Real Estate Group, at 828 393 0134 or at realestatebygreg.com.