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 February 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

$487,909

$306/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$17,951(+3.8%)

Key Takeaway

Homes in Asheville have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Asheville was $487,909 in February 2024, up 3.8% from last year, and the median price per square foot was $306.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $356K$345K
-3.1%
2 $345K$339.8K
-1.5%
3 $470K$488K
+3.8%
4 $730K$727.4K
-0.3%
5+ $1.0M$982.5K
-7.3%

Summary: Asheville housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.1%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 7.3%.

Median Sold Price Compared To Nearby Cities

Lower Hominy Township
+9.7%
Asheville
+3.8%
Asheville Township
+3.7%
Limestone Township
-11.2%

Housing Supply in Asheville, NC

How many homes are available in Asheville, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
555594+7.0%

Summary: The Asheville real estate market had 594 homes for sale in February 2024, a 7.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 2930
+3.4%
2 114120
+5.3%
3 254272
+7.1%
4 112120
+7.1%
5+ 4652
+13.0%

Summary: The Asheville housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 13%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
98107+9.2%

Asking Price vs. Sold Price

70 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

20 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. 65.4% of homes here sold below asking price last month.

Summary: A total of 107 homes were sold or pending in Asheville in February 2024, up by 9.2% month-over-month. Of the 107 sold homes, 65% were sold under asking, 16% were sold at asking, and 19% 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

Feb 2023Feb 2024CHANGE
61 Days53 Days-13.0%

Summary: Homes in Asheville had an average of 53 days on market in Feb 2024, down by 13% compared to last year.

Breakdown of Home Sale Times

48 Homes Were Sold
Under 30 Days

39 Homes Were Sold
In 30 - 90 Days

20 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 February 2024, 107 homes were sold in Asheville; 45% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 19% 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 28 Days Ago

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