Monday, December 18, 2023 / by Amy Brown
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.
And sellers are still receiving a strong final closed price on their sales at an average of 96.4% of list price.
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!