The spring market is heating up and we are excited to release the Q1 2017 Asheville Nest Market Report. It was yet another active quarter in the Asheville real estate market. We continue to see significant growth though declining inventory levels continue to put upward pressure on prices. Current market conditions continue to favor sellers, but buyer demand and confidence in the market remains strong.
Continue reading for the highlights from this past quarter and be sure to read the full report here.
Asheville MSA
- Total sales rose 12% compared to Q1 2016.
- Months of inventory dropped from 8 to 6 months.
- Median sales price rose by $15,000 to $232,000.
Buncombe County
- Inventory levels were unchanged from this time last year, but still below historical averages.
- Total sales rose modestly at 5% year-over-year.
- Averaged days on market dropped to 69, the lowest of any area in the MSA.
For more information on how our local real estate market performed including Haywood, Henderson, and Madison counties, be sure to check out the full Q1 2017 Asheville Nest Market Report.
Have questions? Contact your Nest Broker today to learn more and find out what this report means for you.