Monday, November 23, 2015

Asheville Market Real Estate Update

From the November 6th Asheville Citizen Times newspaper...
We have set many new records for real estate sales in Asheville and Buncombe County.  The number of  homes sold in Asheville during the third quarter was 401.  This is the highest on record since the same time period in 2006 when there were 399 sold.
We also have a new median sales price record of $244,000 for the 3rd quarter compared to $235,000 for the fourth quarter of 2007.
Median sales price for all homes (including condos, townhomes and mobile homes) through Sept 30 is $348,950 compared to the old record of $345,900.
Another sign of the strength of the housing market is the reduction in inventory of higher priced homes.   When levels are more than 6 months = buyers market and when they are less than 6 months = sellers market.
Buyers are mostly coming from New York, Florida, New Jersey and California
One home referenced in the article was purchased in 2005 for $175,000, now, the home is listed at $271,500.

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