The housing market finished strong in Asheville and Buncombe County in 2013.
Number of Homes Sold The number of homes sold in Asheville was up 27.7% compared to 2012, and for Buncombe County, there was a 21.7% increase in sales. 4th quarter sales were up, with an increase in the number of home sales of in Asheville and Buncombe County.
Median Home Sales Price in Asheville and Buncombe County. There was a significant rise in the overall median home sales price in Asheville of 11.3% and a modest rise of median sales price in Buncombe County of 2%.
Inventory levels are some of the best indicators of the health of a housing market. A balanced market has inventory levels of 6 months. When inventory levels are significantly over 6 months there is downward pressure on prices and when levels are at 6 months or less, there is upward pressure on prices. Inventory in the 4th quarter is usually low since many would-be home sellers are waiting to put their properties on the market in the spring. By comparing 4th quarter inventory levels from years past, the impact of seasonality on inventory levels can be adjusted for.
Median Price per Square Foot is rising in most price groups in Asheville and Buncombe County, indicating an across the board strengthening of the housing market.
For a complete market analysis, including charts and graphs, 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.