5 Things Every Buyer Should Know About the Housing Market

Buying a new home can be an exciting time. It can also be frustrating and exhausting. To help prepare, Amanda Simpkins shared 5 important things to know about the housing market.

Amanda is an Asheville native with a deep connection to the community. After teaching high school, Amanda transitioned to real estate to continue impacting families’ lives. She combines her passion for education and community service to provide exceptional experiences for her clients. Amanda is an invaluable resource for buyers navigating the Asheville housing market.

Women with a sequin top and jeans standing beside a natural wood dining table with a metal chandelier in a brightly lit home
5 Things Every Buyer Should Know
Image from Anastasiia Photography

1. Is it a buyer’s market or seller’s market — and what’s the difference?

  •  In a buyer’s market, there are more homes for sale than there are people who want to buy them. 
  • In a seller’s market, there are more people who want to buy homes than there are homes for sale.
  • Look at days on market, list-to-sales price, and other data points to see where your market is right now.
  • Do some online searches in communities where you’d like to live. 
  • Check neighboring areas and towns and compare prices there, too.
  •  Areas with higher home prices usually are in higher demand.
  • As you become familiar with trends, you’ll be able to spot good deals and overpriced homes.

3. Where are the up-and-coming areas?

  • A key indicator of a soon-to-be-hot town is new infrastructure and development.
  •   Look for new businesses, shopping centers, roads, and schools.

4. How are the schools?

  • Schools are ranked by how well kids perform on math and English tests.
  •  Compare school scores for neighboring areas and try to prioritize good school districts; it’s good for resale.

5. What are the neighborhood demographics?

  • How many homes are occupied by owners?
  • How many are rented?
  • What’s the average age of occupant? 

These are the top 5 things every buyer should know about the housing market but there is so much more to know! Contact Amanda to learn even more and don’t forget to tell them Scout sent you!