August 2024 Real Estate Report for the Asheville Region
New listings hit the market during August in Madison County, increasing their listing by 21.9% over last August. The City of Asheville saw increases of 11.9% over August of 2023 as well. The Asheville region is made of 13 counties: Buncombe, Burke, Haywood, Henderson, Jackson Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania, and Yancey.
This month Madison County has seen the most market growth, whereas Buncombe County increased by 11.9%.
Currently, the median sales price of Buncombe County is $422K. It’s down 5K from August 2023.
New listings up 11.9% over last August
Closings down 6.2% over last August
Median sales are up 8% over last August
Inventory is up 26.9% over last August
Buncombe County
Buncombe is still a strong market with the supply increasing to 26.9% between August 2023-2024. While new listings are up 11.9% and sales prices are up 8%, the time on the market has continued to increase, showing that people are taking their time a bit more over the previous year.
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.
City of Asheville
The City of Asheville continues to see an increase in listings between 2023 and 2024. New listings are up 10.7%, with an inventory increase of 28.6%. Closed sales are however down 2.3% over last year this time, but the city is still showing strong and prices seem to be continuing upwards.
Madison County
Madison is trending down a little bit which is great for buyers. Median sales prices are down 4.9% and closed sales are down 26.7% over last August, while new listings are up 21.9% over last August. Madison County seems be settling down after a turbulent few years.
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 the area 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 August 2023 and August 2024.
