CURRENT Asheville Real Estate CONDITIONS STRONGLY FAVOR SELLERS
We’ve just released the First Quarter 2016 Nest Market Report for the Asheville area. Extremely low inventory levels were a pervasive trend across our market this past quarter which played a role in constraining sales. The lack of inventory pushed median sales prices upward to $216,900 this past quarter as quality homes moved quickly with multiple offers.
Here are some highlights:
Asheville MSA
- Total sales rose a modest 1% from Q1 2015
- Single-family medians sales prices rose from $200,000 in Q1 2015 to $225,000 in Q1 2016
- Average days on market for single-family homes dropped 31% to 102 days
Buncombe County
- Inventory was at its lowest point for the end of Q1 in the last four years
- Median sales prices rose approximately 11% due in part to limited inventory
- The $500,000 and up segment of the market comprised 11% of the market this past quarter.
For more information on the Asheville real estate market, you can view the full Asheville First Quarter 2016 Nest Report here. Have questions about the report, or ready to start your home search? Contact your Nest Broker today to start the conversation.