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Spring 2020 Market Update
Asheville got the ball rolling, but the entire Western North Carolina real estate market is driven by the reality that Asheville is a destination town for people loving cosmopolitan amenities in a friendly small town environment surrounding by beautiful mountains and recreational amenities. Asheville is a great place to raise a family and its mild climate makes it very attractive for retirees from all over the country as well. The market had been super hot and has favored sellers over the last three years, but that is levelling off to a comfortable equilibrium in Q1 2019. Driving prices, however, is a lack of inventory. When attractive and well-priced homes hit the market, be prepared to act quickly or they will sell -- frequently with multiple offers. Any buyers seeking to purchase a home should make sure they start the process with a financing letter in hand from a lender stating they are qualified to purchase.
Average Sold Home Price: $350,000

Average Time on Market: 30-60 days

Best Selling Price Range: $350,000 - $399,000

Existing Home Prices for the past 90 days: No Change

Market Trend: Increasing

Buyer's or Seller's Market: Equal buyers and sellers

Buyer Activity for the past 90 days: No Change

Seller Activity for the past 90 days: Decreasing

Multiple Offers? Yes

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 5-10%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Limited Supply

Greatest Activity: Repeat Buyers

Nearest Metro Area: Western North Carolina

Contact Information
Suzanne Devane
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Mortgage Rates for Apr 10th, 2020
30 year fixed rate: 4.51%
15 year fixed rate: 3.90%
30 year jumbo rate: 4.41%
15 year jumbo rate: 4.12%
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Real Estate Professional, Suzanne Devane Suzanne Devane
Asheville Realty Group
Specializing in Asheville Real Estate
47 Patton Avenue
Asheville, North Carolina 28801
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(Because current market conditions can change rapidly in any given marketplace,
please check with Suzanne Devane for current Asheville, NC market conditions before acting on this information.)
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