Is Downtown Asheville, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Downtown Asheville has remained a Neutral Market.
Key Takeaway
Downtown Asheville is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Downtown Asheville, NC
How much do homes in Downtown Asheville, NC cost?
Median Sold Price
$650,000
$569/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Downtown Asheville have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Downtown Asheville was $650,000 in April 2024, up 6.1% from last year, and the median price per square foot was $569.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $494K | $488.7K | -1.1% |
| 2 Bedrooms | $820K | $705K | -14.0% |
| 3 Bedrooms | $910K | $1.3M | +45.3% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Downtown Asheville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.1%, 2 bedroom homes decreased by 14%, 3 bedroom homes increased by 45.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Historic Montford | $650K | $695K | +6.9% |
| Downtown Asheville | $612.5K | $650K | +6.1% |
Housing Supply in Downtown Asheville, NC
How many homes are available in Downtown Asheville, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 20 | +17.6% |
Summary: The Downtown Asheville real estate market had 20 homes for sale in April 2024, a 17.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 7 | +40.0% |
| 2 Bedrooms | 10 | 10 | 0.0% |
| 3 Bedrooms | 1 | 2 | +100.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown Asheville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown Asheville, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Downtown Asheville in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Downtown Asheville, NC
How long does it take to sell a home in Downtown Asheville, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 88 Days | 142 Days | +61.4% |
Summary: Homes in Downtown Asheville had an average of 142 days on market in Apr 2024, up by 61.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Downtown Asheville are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 3 homes were sold in Downtown Asheville; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
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