Asheville Real Estate Market Report-Residential

Spring is upon us and I don’t know about you, but I feel that we REALLY deserve a nice one this year!

Diving right in our residential profile for Buncombe County real estate.  We’ve got some really volatile movement going on.  Here’s what we look like:

Presently, there are 2,966 residential properties actively on the market in Buncombe County which includes Asheville and submarkets.  This # is 3.31% MORE than last month and 10.42% LESS than a year ago.

366 (12.3% of these active listings) are under contract and hopefully most of them will make it all the way to close.  This is 20.4% less than last year’s 460.

In the past 6 months, there have been 888 residential sales, 18.23% less than last year’s 1,086.

We have 20 months of inventory on the market, which is 2 months more than last year.

We see normal signs of spring coming and no trends yet that would lead us to believe that we are cycling to recovery yet.

The properties that are being absorbed the quickest right now are properties priced from $175,000 to $250,000.  $250,000 to $299,999 is the next best moving range.

Our median sales price has really taken a dip this month to $192,000 (based on 6 months of historical sales).

To check your price range of interest, download or print the report HERE

Happy Spring!

Scott Raines