1st Quarter 2020
COVID-19 emerged in the first quarter of 2020 and the virus started to become a mainstream concern in early March 2020, the last month of the first quarter. Since housing is a lagging indicator, it is likely that the first quarter market analysis does not fully capture the virus’s impact on Asheville and Buncombe County’s housing markets
Number of homes sold. The housing market showed signs of strength in Asheville and Buncombe County in the first quarter of 2020. With 332 home sales, more homes sold in the first quarter of 2020 in the City of Asheville than in any other first quarter on record. Buncombe County had 587 sales in the first quarter, 3 sales shy of its first-quarter high in 2016.
Median home sale price. In the City of Asheville, the median home sales price rose between the first quarters of 2019 and 2020 to $323,840 — a 9.9% rise and the highest first-quarter median home sales price on record. In Buncombe County, it rose between the first quarters of 2019 and 2020 to $305,000 — a 10.9% increase. Similar to Asheville, this was Buncombe County’s highest first-quarter median sales price on record..
For a complete market analysis, including Trends in Green Homes, Inventory or Price Per Square Foot, view the entire report here. If you have any questions or would like a price evaluation of your house, please contact one of our agents or call us at (828) 707-9556.
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