If you’re curious about the current state of real estate in Asheville and Buncombe County, you’re not alone. The first quarter of 2025 brought some notable shifts in the market. We spoke with Mosaic Realty owner Mike Figura, who delved into the latest housing market details and offered some expert insight into what the coming months might look like. Whether you’re buying, selling or simply keeping an eye on the Asheville real estate market, here’s what you need to know.
How do first-quarter 2025 median home prices in Asheville and Buncombe County compare with the previous year’s first-quarter sales?
In the first quarter of 2025, the Buncombe County real estate market experienced a decline in median home prices, dropping from $477,000 in the first quarter of 2024 to $450,000 in the first quarter of 2025. However, within the City of Asheville, median home prices actually increased—from $488,000 in the first quarter of 2024 to $507,000 in the first quarter of 2025. This rise in Asheville home prices is likely due to limited inventory in the lower price ranges, which has led to fewer sales in those brackets rather than a broad increase in overall property values.
What are the price ranges where Asheville-area housing inventory is especially tight?
As is often the case in growing real estate markets, inventory is tightest in the Asheville area for homes priced under $400,000. These more affordable homes are in high demand, making them harder for buyers to find.
How competitive was the Asheville-area real estate market in the first quarter of 2025? What does this mean for buying or selling a home in Asheville?
The real estate market in Asheville during the first quarter of 2025 was less competitive for buyers than in previous years, but more competitive for sellers. There’s an increase in inventory, offering more options for buyers, while average Days on Market (DOM) has risen, reflecting slower sales. This means buyers have a bit more breathing room, while sellers may need to adjust their expectations and strategies: things like focusing on accurate pricing and effective staging to attract offers as the market evolves.
How long should I expect my Asheville-area home to take to sell right now?
It depends on how your home is priced and presented. Homes in Asheville and Buncombe County that are competitively priced and properly staged are often selling within one to two months. On the other hand, homes that are overpriced or in need of repairs are lingering longer on the market. As of the first quarter of 2025, the average DOM was 81 days in Buncombe County and 59 days in the City of Asheville.
How are recent storms and the economy influencing the Asheville real estate market?
The aftermath of Helene has left its mark. While the physical damage was localized, the bigger impact has been economic. Tourism, a major driver of Asheville’s economy, slowed down after the storm, affecting short-term rentals, hotels and local businesses. But as tourism bounces back, the local real estate market is expected to strengthen again. That said, broader national economic trends could also play a role this year. Things like interest rates, job markets and consumer confidence could impact housing decisions here in Asheville and Buncombe County — so it’s smart to keep an eye on the bigger picture too.
For more information on real estate in Asheville, or anywhere in Western N.C., please contact us at Info@MyMosaicRealty.com, or call us anytime at 828-707-9556.
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