Asheville Region & Henderson County

The spring season continues to see a reduction in Closed Sales across the Asheville region, largely due to the lack of inventory available, as well as, a changing economic forecast, and mortgage rate increases. Days on Market dropped more than 34.8% on 2021's results, showing the demand from homebuyers remains strong, outpacing supply in all price ranges.

Not only is the lack of inventory impacting the market, but the rising sales price continues to put homes further out of reach for many first-time homebuyers. Sellers, on the other hand, are consistently getting the asking price or more for their homes, in a seller's market that is expected to continue through Q2 of 2022.

Key observations from this first Quarter of 2022 are:

Homes in Asheville have steadily sold for 97.9% of the asking price in this active seller's market during

Once again, first-quarter sales results saw inventory fall in all of the markets we serve, with the Month's Supply reaching .9 in Asheville, an unprecedented result that is 42.8% down on last year's result.

The shortest average time to have an offer accepted on a home in Asheville is 37 days, a reduction of more than 34.8% on 2021 first quarter results.

Closed sales are down 6.4% in the first quarter of 2022–likely due to further anticipated interest rate hikes, and a continued, and quite considerable, lack of inventory.

the first quarter of 2022. A slight increase from the previous year.

Asheville continues to see Average and Median Sales Prices increase with Months Supply nearly depleted by buyer demand. With such a low inventory it's no surprise that Closed Sales have dropped more than 6.4% on Q1 2021 figures. Expect more of the same in Q2 2022, with prices continuing to rise and both inventory and Days on Market continuing to drop.

In the pastoral setting of Buncombe County, Asheville's home county, the Q1 Average Sales Price for homes was up 13.4% year-on-year. On average, homes in Buncombe County are on the market for 34 days, more than 31% faster than this time last year. While Buncombe County offers greater selection and opportunities for first-time buyers, its new developments and luxury communities have put upward pressure on home prices outpacing Asheville.