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.
65 parcels have been Sold in 2008 with an Average Sold Price of $188,156.
A breakdown of those sales looks like this:
25 parcels were under 1 acre with an Average Sold Price of $101,849.
26 parcels were between 1 to 2.99 acres with an Average Sold Price of $198,866.
2 parcels were between 3 to 4.99 acres with an Average Sold Price of $100,000.
4 parcels were between 5 to 9.99 acres with an Average Sold Price of $390,000.
3 parcels were between 10 to 20 acres with an Average Sold Price of $310,875.
There are currently 2138 parcels of any size on the market with an Average Asking Price of $313,604.
The Average Asking Price of the 3,017 Residential homes "for sale" in Buncombe County is $455,457.
It is fairly obvious that the high cost of vacant land has a great affect on the overall cost of homes in our area.
Buncombe County is the home of Asheville, NC.
Asheville has been experiencing many changes in the real estate market, some good and some, not so good. The Asheville area was once believed to be immune from the negative real estate trends that the rest of the country was experiencing.
Perhaps that would be true if the rest of the country hadn't suffered such deep slow-downs and upset markets.
The Asheville area has now seen a dramatic slow-down of Sold homes, and increase in inventory, and a noticeable drop in "pending" listings. What is a bit confusing is the fact that our prices have actually risen in many cases and the number of homes under $100,000 have been greatly reduced.
The two numbers that seem to tell the story of the Asheville market appear to be the number of homes under $100,000 and the number of homes over $1,000,000.
The record number of Active Listings in Buncombe County is 3,202 which was set on October 26, 2007.
The trend indicator below is for the current month compared to last month.
Just like many parts of the country Asheville and Buncombe County are being affected by the supply and demand rule of business. Our sales are down significantly.
The pundits claim there is a pent-up demand for the Asheville area, but buyers must first sell their properties in the part of the country they now live in first, and many of the other areas of the country are still struggling.
Asheville and Buncombe County however, are experiencing somewhat of an unusual phenomenon. Our market has slowed, yet our prices are going up on the existing inventory.
We actually set a new record high on the Median Asking Price in January.
It appears that the lower priced homes have been selling leaving behind the more expensive homes, which has contributed to this upward tick in prices, rather than causing a downward tick on asking prices.
My guess is, that shortly, Asheville will see a decline in the Asking Prices, especially in the mid to high price ranges or we will simply keep selling less homes on average.
The up or down trend arrows in the chart indicate what has happened since the month prior to the month being reported.
Buncombe County, NC Real Estate Market Statistics - January 2007 and 2008
| Active Residential Listings | Average Asking Price | Median Asking Price | Number SOLD | Average SOLD Price | Median SOLD Price |
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Jan 2007 | 2228 | $409,796 | $289,900 | 248 | $285,950 | $220,000 |
Jan 2008 | 2915 | $450,745 | $309,900 | 177 | $286,601 | $219,000 |
As you can see, the number of homes in the inventory has risen once again, but so have the Average and Median asking prices. One reason for that is that we now have more homes on the market at or over $1 million.
The one concern is the number of homes sold in January 2008 versus January 2007. Inventory up, sales down indicates our market has slowed along with the rest of the nation.
The January 2008 sales of 177 homes is the lowest since February 2004.
Post you listings and market reports at the Group: http://activerain.com/groups/CityStateListingsReports
$309,000
Asheville and Buncombe County, NC has been acting strange lately.
As the majority of the country seems to be having a downward spiral of home prices, at least according to the news media, Asheville has been experiencing something a bit different.
Annually, in the past, we had been seeing the inventory go down in the early fall, but that is not unusual for the fall and winter months of November through about the middle of March.
Now, our inventory is beginning to creep back upward earlier than usual.
Our Average Asking home prices have basically been stable, with some up and down movement, but today we hit an all time record high for the Median Asking price of single family homes (which include: homes, mobile homes and Condo/Townhomes).
Outside of the North Carolina beaches, that makes us the most expensive place to buy in NC.
The demand for property here is driven by the unique atmosphere of the area, the climate, the variety of cultures, the arts and crafts talents, low crime rates, and our beautiful mountains. People come from all over the world now to live here, and so, the demand is very strong. Once the rest of the country gets back on track with home sales, Asheville will once again see an upward trend in prices and numbers of homes sold.
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Innovation in Real Estate Since 1984. 1st Exclusive Buyer's Agent in WNC. 1st Discount Listing Service Provider in WNC. REALSEARCH provides Buncombe County Real Estate Statistics, Trends & Refer
Today, I am a Research and Referral conduit for Sellers and Buyers. I rarely take new listings or work with new buyer clients. I work primarily as a referral agent. At this time, I work only with past clients and the referrals they send to me. After over 20 years in the business in Asheville, I am able to go in that business decision.
The benefit, to Sellers and Buyers looking for agents to work with in our market, is I have learned how to determine which agents are truly successful in their field of expertise, in all those years of my experinece in this market As a result, where I can be of the most assistance to a Buyer or Seller is to guide the Buyer or Seller in the "right" direction in their choice of the agent they may decide to work with. I refer you to the most qualified agents among the masses of the "old -timer" established, the newbies, the good ones and the ones that may best be suited for the particular needs of you, the client. I also help you avoid considering the agents that may not deliver the services you are expecting. All this is done through my research of the history of the agents best suited for the job based on their past production and legacy. There is NEVER a charge to the Buyer or Seller for the referral. The receiving agent pays my fee from their commission, when a sale is completed. For Sellers, the referral I make is based on the price range of the property, the location, the time frame desired to sell, and to an extent, the personalities of the parties. There are agents who think they are "multi-talented", but today, agents are no longer all things to all people. There are agents that specialize in, or just plain do better with homes under $250,000. There are agents that specialize in homes from $200,000 to $500,000, those that only do well if the home is over $450,000, those that don't do much outside the city limits, those that prefer only new homes, etc. I sort through all of that to pinpoint the one best suited for the job based on the facts, not hyperbole. For Buyers, the referral is based on the longevity of the agent and the background necessary to truly appreciate the special relationship a buyer and the agent should have. I avoid any agent that believes in dual agency as the "best" solution to helping buyers and sellers. Buyers and Sellers are adversaries and the agent needs to understand that the buyer should be given every fact to put that buyer in the best negotiating position possible based on the facts and knowledge of the market. A great buyer's agent should be a great researcher, not a bulletin board reader. The referral and research that I do is not based on a "buddy" system! It is based on the pure facts resulting from an MLS search of the sales in the area of interest of the client. It is my job to see who is doing what in the marketplace using my research skills. If you need to know which of the 1,900 Asheville agents might be the best agent for you, give me a call or email. It costs you nothing unless YOU pick the wrong agent without having a little help. Now, with that said, sometimes even the "best" will not give you exactly what you had hoped for, but we will try to find the "best" suited to your needs. www.asheville.com for the latest in "Things to do in Asheville."
REALSEARCH 
Market condition statistics, especially current trends, can be very useful to some buyers and sellers. Since market conditions affect how we market and, the expectations we have, I do a great deal of statistical research (not just 3 listing CMAs) to help my clients, the local newspaper, the Chamber of Commerce, other brokers, and clients of other agents, etc. with the research they find necessary. As a Realtor, I find many fellow Realtors, because it can be time consuming and tasking, do not pay a great deal of attention to in-depth statistics and trends.
That is where REALSEARCH comes in.
This research service, for both real estate professionals and the general public, compiles the data that is a roadmap into the market conditions in Western North Carolina (specializing in, but not limited to Buncombe County/Asheville), for at least one year back, on a monthly basis (some research is done daily) for Buncombe County single family residential real estate market, which includes single family homes, condos, townhomes, and mobile homes on owned land.
This is NOT a "Crystal Ball" approach and is not a forecasting program, but rather a gathering of the statistics gained from the Western North Carolina Regional Multiple Listing Service (WNCRMLS). It is designed to show trends. It provides data about the number of Active listings (daily), as well as the number of Listed, Pending, Sold and Expired (monthly). The "Average List Price" and the "Median List Price" and "Days on Market"(DOM) are displayed. The "Year to Date" number of "Sold" compared to a year ago and the percentage difference is recorded.
The Asheville/Buncombe County reports are provided in Windows format on Excel (data and charts) and Word. $50 for first report, which includes the last quarter "Year in Review" and then $25 per report (provided monthly, for any month desired) thereafter. Customized research is also possible on an hourly basis.
You tell me what data you need, and I will do the research for you.
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