July 2024 Real Estate Report for the Asheville Region
New listings popped up during July! The Asheville region, which includes 13 counties, saw a 14.7% increase. The Asheville region is made of 13 counties: Buncombe, Burke, Haywood, Henderson, Jackson Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania, and Yancey.
It’s important to note, however, that not all of the counties witness equal increases or decreases. For example, Madison County was not so lucky during July. The county’s stats differ from Buncombe and the City of Asheville.
Currently, the median sales price of the Asheville region is $422K. It’s down 5K from July 2023.
New listings up 14.7%
Closings down 2.0%
Median sales down .5%
Months inventory up 33.3%
Buncombe County
Buncombe County includes the following areas: Arden, Asheville, Avery Creek, Barnardsville, Bent Creek, Biltmore Forest, Black Mountain, Fairview, Montreat, Royal Pines, Swannanoa, Weaverville, and Woodfin.
The amount of supply per month increased 20.8% between July 2023-2024. Unfortunately, it’s a wash because closing sales were down 21% and new listings are up only 0.5%. Median sales price is down only 1.3%.
City of Asheville
The City of Asheville continues to see an increase in listings between 2023 and 2024. New listings are up 6.1%, with an inventory increase of 28%. Closing AND median sales prices, however, are decreasing. Closing sales are down 22.9% and median sales prices are down 10.2%.
Madison County
There’s not much movement going on in Madison County. During July 2024, there were 42 listings. Closings sales are down at 32.4%, and median sales prices are down 13.1%. The month’s supply of inventory is up 9.8%.
Moving to Western North Carolina?
If you want a detailed report on a different city, town, or county, just reach out! Our team is ready to walk you through the overall market and more regionally-specific markets.
Contact our team with your questions and concerns. Whether you’re selling, buying, or monitoring the market, Quinn Anderson Real Estate Solutions is here to help. The process of buying or selling a house can vary depending on areas and time of year, not to mention the state of a property, inspection times, and so many other factors. We’re here to guide you the best we can.
*Data source: Asheville Region Monthly Indicators report. All data reflect differences between July 2023 and July 2024.
