2016 was a busy year for the Asheville real estate market and an exciting one for us here at Nest. Much like the our market, we experienced lots of growth this past year and moved into our first permanent office location! We are proud to present the 2016 Asheville Annual Report. We know there’s lots of data out there, but our goal is provide our clients with local, relevant data in an easy to understand format so that they can make informed, confident real estate decisions when the time arrives.
In 2016, the Asheville real estate market continued to experience lots of activity and significant growth in total sales. 2016 was the sixth straight year of positive sales growth for our area. As we saw in 2015, inventory levels declined once again this past year putting upward pressure on prices. Strong buyer demand, coupled with decreased inventory, led to homes selling significantly faster than in 2015.
2017 is poised to be an interesting year as current conditions favor sellers, but limited inventory and uncertainty regarding interest rates seem to being giving both buyers and sellers alike, some hesitation. To learn more about how the Asheville market performed in 2016, take a look at the highlights below and be sure to read the full 2016 Nest Realty Annual Report here.
- Total sales in the Asheville metro area rose nearly 8.5%
- Median sales prices in Buncombe County increased more than 10%
- East Asheville experienced the largest decline in average days on market dropping to just 46 days
Have questions? Don’t hesitate to reach out to your Nest broker to learn more.