Is Asheville, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Asheville is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Asheville has remained a Seller's Market.

Key Takeaway

Asheville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Asheville, NC

How much do homes in Asheville, NC cost?

Median Sold Price

$486,258

$307/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$25,829(+5.6%)

Key Takeaway

Homes in Asheville have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Asheville was $486,258 in May 2024, up 5.6% from last year, and the median price per square foot was $307.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $364K$314.6K
-13.6%
2 $339.3K$339.5K
0.1%
3 $467K$483.7K
+3.6%
4 $737.3K$734.3K
-0.4%
5+ $1.0M$1.0M
+5.4%

Summary: Asheville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.6%, 2 bedroom homes increased by 0.1%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 5.4%.

Median Sold Price Compared To Nearby Cities

Biltmore Forest
+12.1%
Lower Hominy Township
+11.8%
Asheville
+5.6%
Asheville Township
+3.6%
Limestone Township
-5.9%

Housing Supply in Asheville, NC

How many homes are available in Asheville, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
700792+13.1%

Summary: The Asheville real estate market had 792 homes for sale in May 2024, a 13.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 3238
+18.8%
2 126136
+7.9%
3 326354
+8.6%
4 154182
+18.2%
5+ 6282
+32.3%

Summary: The Asheville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.8%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 32.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
156166+6.4%

Asking Price vs. Sold Price

82 Homes Were Sold
Under Asking

40 Homes Were Sold
At Asking

44 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Asheville, you may be able to get a good deal. 49.4% of homes here sold below asking price last month.

Summary: A total of 166 homes were sold or pending in Asheville in May 2024, up by 6.4% month-over-month. Of the 166 sold homes, 49% were sold under asking, 24% were sold at asking, and 27% were sold over asking.

Days on Market for Asheville, NC

How long does it take to sell a home in Asheville, NC?

Average Sale Time

May 2023May 2024CHANGE
32 Days35 Days+10.1%

Summary: Homes in Asheville had an average of 35 days on market in May 2024, up by 10.1% compared to last year.

Breakdown of Home Sale Times

114 Homes Were Sold
Under 30 Days

31 Homes Were Sold
In 30 - 90 Days

19 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Asheville are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 166 homes were sold in Asheville; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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