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Asheville asking highest home prices since recession

                                                                                                                                                                     Home sale prices climbed by 7.8 percent to an average of $267,169 in Asheville and Buncombe County compared to last year,according to national real estate data firm CoreLogic.

Home sellers in Buncombe County are asking the highest prices since the Great Recession.

The average asking price for all homes for sale in July was $473,962, up 8 percent from a year ago.

"That's the highest average asking price since August 2008. We're back to where the housing bubble burst," said Don Davies, a local market analyst and real estate broker.

Meanwhile, home sale prices climbed by 7.8 percent in the Asheville metro area of Buncombe, Haywood, Henderson and Madison counties, according to national real estate data firm CoreLogic.

In Buncombe County, the typical home sold for $267,169 for January through June. "Prices continue to go up for us," said Mary Love, an agent with Keller-Williams.

In the past year, 35 percent of Buncombe homes sold in less than 60 days, while another third of homes have been sitting on the market for five months or more, according to the second quarter report from Beverly-Hanks & Associates, Asheville's largest real estate agency. The report indicated that "a significant number of homes need to be repriced in order to sell." ...more

Read the entire article here.

Dale Neal, dneal@citizen-times.com

Photo: John Coutlakis/jcoutlakis@citizen-times.com

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