2018 is now more than half way over and we are excited to release our 2018 Asheville Mid-Year Market Report. Understanding what’s going on in the market allows us to equip our clients to make confident, informed decisions. It also gives us an idea of what the future holds.
While total sales dipped slightly, home prices in the Asheville MSA continued their upward trend. The bottom line is that there just isn’t enough home inventory to meet the demand from homebuyers in the Asheville area. Competition is fierce for the homes currently on the market and only expected to continue. In a recent Forbes article, Asheville was identified as a possible boom market based on various economic indicators. In this market, working with an experienced real estate agent is key for both buyers and sellers.
- Total sales declined 4.4% compared to the first half of 2017.
- The median sales price rose nearly 10% to $265,000.
- Total inventory levels decreased 1.26% from the end of Q2 2017.
- Total sales dropped nearly 6% year-0ver-year.
- The median sales price rose 8.5% to $293,000
- There was approximately 6.3 months of inventory at the end of this past quarter.
Be sure to check out the full 2018 Asheville Mid-Year Market Report here for more info on how the market performed in the first half of the year.
Whether buying or selling, it is increasingly important in current market conditions to talk with your Nest Broker about how your home fits into the bigger picture. They will advise you and prepare you to make knowledgable decisions and help you achieve your real estate goals. Interested in what’s happening in other markets? To view all of our area market reports, click here.
Have questions? Contact your Nest Broker today.