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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Asheville is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Asheville was a Seller's Market.

Key Takeaway

Asheville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Asheville, NC

How much do homes in Asheville, NC cost?

Median Sold Price

$490,473

$311/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$6,687(+1.4%)

Key Takeaway

Homes in Asheville have sold for 1.4% more than they did a year ago.

Summary: The median home sold price in Asheville was $490,473 in October 2024, up 1.4% from last year, and the median price per square foot was $311.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $337.5K$349.5K
+3.6%
2 $340K$334.5K
-1.6%
3 $477.5K$479.8K
0.5%
4 $741.2K$757.5K
+2.2%
5+ $949.9K$1.0M
+9.2%

Summary: Asheville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 9.2%.

Median Sold Price Compared To Nearby Cities

Limestone Township
+14.3%
Lower Hominy Township
+6.5%
Asheville
+1.4%
Asheville Township
+1.0%

Housing Supply in Asheville, NC

How many homes are available in Asheville, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
767702-8.5%

Summary: The Asheville real estate market had 702 homes for sale in October 2024, a 8.5% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 4538
-15.6%
2 142128
-9.9%
3 369336
-8.9%
4 155141
-9.0%
5+ 5659
+5.4%

Summary: The Asheville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.6%, 2 bedroom homes decreased by 9.9%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes increased by 5.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
14370-51.0%

Asking Price vs. Sold Price

37 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

18 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. 52.9% of homes here sold below asking price last month.

Summary: A total of 70 homes were sold or pending in Asheville in October 2024, down by 51.0% month-over-month. Of the 70 sold homes, 53% were sold under asking, 21% were sold at asking, and 26% 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

Oct 2023Oct 2024CHANGE
29 Days32 Days+10.6%

Summary: Homes in Asheville had an average of 32 days on market in Oct 2024, up by 10.6% compared to last year.

Breakdown of Home Sale Times

45 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

6 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 October 2024, 70 homes were sold in Asheville; 64% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 9% 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 16 Days Ago

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