Market Update: Hurricanes, Mudslides and Roads Closed - Oh My!

Dated: 12/01/2018

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This year the beloved Hickory Nut Gorge has been inundated with torrential downfalls, mudslides, fallen trees and road closures. Hurricanes Florence and Michael left numerous marks on the area. While the strength of our residents prevails, Mother Nature certainly had a less than optimal effect on real estate sales during our most popular season.  While home sales have been good, the numbers are slightly off track from the past several years.  And those in anticipation of high traffic from the World Equestrian Games are surely disappointed that equestrians and guests didn’t come flocking to the gorge seeking real estate.

Don’t despair!  The area fared well despite circumstances.  Between January 1 and September 30, Lake Lure (zip code 28746) had 98 single-family homes sold.  Of those, 70 sold at $400,000 or less and 28 sold for prices above $400,000.  The same period in 2017 had 114 sales of single-family homes – 94 at $400,000 or less and 20 at prices above $400,000.  In summary, the number of single-family residential sales was 14% below the same period for 2017, although perhaps a better-than-average year for the area given the traveling obstacles that had to be overcome.

On a positive note, showing activity spiked in the first two weeks of October. Optimistic buyers are inquiring and ready!  For the holidays, don’t forget to invite friends and family who may have an interest in joining our beloved community - there’s nothing like the Lake Lure Lifestyle!

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