Asheville, Buncombe County, NC: Residential Active Listings Statistics - August 2008

AUGUST 2008

Buncombe County is the home of Asheville, NC.

Buncombe County and the surrounding areas of Asheville, Leicester, Black Mountain, Biltmore Forest, and Arden like the rest of the country, has been experiencing many changes in the real estate market, some good and some, not so good.

There has been a slight change in the market conditions compared to last month, but only slight. The continuing bad news is that the number of homes over or close to $1 million are not moving and the inventory is still hovering around the record high numbers.

The Asheville area has historically been immune from the negative real estate trends that the rest of the country was experiencing. This is different now. The market "slumps" in most of the country has now had an impact on the Asheville area, at least as far as homes over the $275,000 mark.

The Asheville area has continued to see a dramatic slow-down of Sold homes, and returning increase in inventory, and a noticeable drop in "pending" listings. The two numbers that seem to tell the continuing story of the Asheville market appear to be the small percentage of homes under $100,000 and the increasing number of homes over $1,000,000.

The record number of Active Listings in Buncombe County is 3,481 which was set in June, 2008.

The trend indicator below is for the current month compared to last month.

Residential Properties = Single Family Homes, Condos, Townhouses & Mobiles on Owned Land

BUNCOMBE COUNTY AUGUST 2008 - Current Inventory by Price Range