Asheville, Buncombe County, NC: Vacant Land Sales - August 2008

Vacant Land, Lots, and Acreage - Buncombe County, NC

Buncombe County includes the cities or areas of Asheville, Weaverville, Leicester, Black Mountain, Arden, Skyland, Candler, and Biltmore Forest.

Vacant land sales can be an indicator of the health of the real estate market overall. Buncombe County land sales in 2008 have slowed to about 55% of sales in 2007,

272 parcels have been Sold in 2008 with an Average Sold Price of $151,991, a decrease from July prices.

A breakdown of those sales, year to date, looks like this:

1 acre or under - 128 parcels sold with an Average Sold Price of $84,229.

1 to 2.99 acres - 85 parcels sold with an Average Sold Price of $129,074.

3 to 4.99 acres - 23 parcels sold with an Average Sold Price of $144,950.

5 to 9.99 acres - 11 parcels sold with an Average Sold Price of $204,700.

10 to 20 acres - 9 parcels were sold with an Average Sold Price of $312,681.

There are currently 2449 parcels of any size on the market with an Average Asking Price of $294,358.

The Average Asking Price of the 3,422 Residential homes "for sale" in Buncombe County is $473,620.

It is fairly obvious that the high cost of vacant land has a great affect on the overall cost of homes in our area.

(The above 6.36 acre lot in Leicester, NC can be purchased for $200,000 with underground utilities/DSL/phone and is ready to build on.)