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  • Santa's market stats for Buncombe county homes

    Monday, December 18, 2023   /   by Amy Brown

    Santa's market stats for Buncombe county homes

    Good morning,

    The respite was short lived as we jump back into a seller's market again. With a drop in inventory going into the Christmas season prices have risen again along with demand as interest rates fall.

    The average sold price is up by 5.2% in Buncombe county and up by 3.4% in Asheville for prices at $621,116 and $652,185, respectively.
    avg sales price.jpg Inventory has plateaued again and we are holding at a little over 2 months worth of homes for sale. I do predict that this number will begin to increase again as we go into Spring.
    inventory.jpg
    Average days on market for a home here while slightly on the rise is not a significant increase from the 23 days that we saw back in the summer. We are currently at 33 days from list to close keeping the market competitive.
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    And sellers are still receiving a strong final closed price on their sales at an average of 96.4% of list price.
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    All in all, while the interest rate drop is helping buyers nationwide be able to purchase the home of their dreams this winter, since inventory has not made any significant jumps, this has spurned prices to rise again. Demand has increased as homes now have more affordable payment options with buyer plans to refinance at a later date.

    Market fluctuations in WNC rarely change too drastically so take advantage of the information at hand and be ready to make a move as soon as the market shifts, which can happen weekly! Stay tuned here for the latest stats and know that I watch the market daily and can answer any questions that you may have about affordability, investment potential, prospective equity gains, etc. 

    Have a wonderful Monday!