With the third quarter having come to a close, we are excited to release the Third Quarter 2016 Asheville Nest Report. Our goal at Nest is to equip our clients with the knowledge to make informed real estate decisions. We’ve analyzed vast amounts of market data to provide insight into how our market performed this past quarter. Overall, our market had another strong, healthy performance this past quarter. Buyer demand remains strong, which combined with limited inventory levels, has led to modest price increases. Continue reading for more highlights and be sure to read the full report here.
Asheville MSA
- Total sales increased 2% as our market remains active and exhibits signs of steady, stable growth.
- Inventory levels declined 9% compared to the end of Q3 2015. Limited inventory has been a trend all year and will be something to monitor closely moving forward.
- The limited inventory coupled with strong buyer demand led average days on market to drop by more than 50% year-over-year.
Buncombe County
- Consistent with our area as a whole, total sales in Buncombe County were virtually the same as Q3 2015 which is a positive sign of a stable market.
- Both list and sales prices increased by an average of 9% year-over-year with median sales prices increasing 13%.
- With inventory levels at the end of September registering at the lowest total in the past four years, we are likely to experience continued price increases.
Be sure to check out the full Third Quarter 2016 Nest Report to learn more about the Asheville, Haywood, Henderson, and Madison markets. Have questions? Contact your Nest Broker today to find out what this report means for you.