December 18, 2025

Contact: Kim Walker, 704-940-3149

Asheville MSA Activity Remains Steady as Seasonal Cooling and Rising Supply Support Market Stability

ASHEVILLE, N.C. — November home sales across the 13 mountain counties served by Canopy MLS continued to reflect a market in recovery. Year-over-year gains appear elevated, largely due to Hurricane Helene’s disruption of market activity last fall, which created a softer comparison point. As a result, closed sales rose 31 percent year-over-year to 764 homes sold in November, though activity cooled on a month-over-month basis, with closings down 19.7 percent from October 2025.

Buyer demand remained solid, as pending sales increased 14.2 percent compared to November 2024, with 813 homes placed under contract during the month. However, contract activity also eased from October levels, declining 18.5 percent month-over-month. Mortgage rates hovering in the low-6 percent range throughout November continued to support buyer engagement, even as seasonal factors tempered overall activity. Data in this report is sourced from Canopy MLS and includes single-family homes, condos, and townhome sales only for 13 counties in western North Carolina, which include: Buncombe, Burke, Haywood, Henderson, Jackson, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania, and Yancey Counties, referred to loosely as the Asheville region.

New listing activity declined 3.9 percent year-over-year in November, with nearly 900 homes brought to market during the month, reinforcing the region’s return to more typical seasonal patterns as the winter selling season takes hold. Despite the slowdown in new listings, overall inventory continued to build, rising 41 percent from last year to just over 4,600 homes for sale across the 13-county western region. Months’ supply followed suit, increasing 31 percent to 5.5 months, signaling a market that is approaching balance.

Home prices remained relatively stable. The median sales price edged down 1.2 percent year-over-year to $415,000, while the average sales price increased 5.1 percent to $542,000. Sellers continued to list homes at higher price points, pushing the average list price up 9.6 percent to $610,500. As a result, the region’s original list-to-sales price ratio slipped modestly to 91.5 percent, reflecting more negotiating room for buyers.

“November’s data continues to reflect the lasting effects of Hurricane Helene on the housing market,” said Dave Noyes, Canopy MLS Board Director and Realtor®/broker with eXp Realty. “As rebuilding efforts progress, we’re seeing more listings come to market, buyer demand remains steady, and overall conditions move toward greater balance. Combined with easing mortgage rates, this dynamic should help sustain momentum into the first quarter. While winter is typically a slower selling season, buyers active during this time tend to be highly motivated, and sellers who price homes appropriately are continuing to see successful outcomes.”

As the market settles into more typical seasonal patterns, homes are spending more time on the market. Days on market increased 15 percent year-over-year to 69 days, up from 60 last November, while list-to-close time, capturing the full selling process from initial listing to closing, edged down 2.7 percent to 110 days, compared to 113 days in November 2024. 

The Asheville Metropolitan Statistical Area (MSA)

Sales across the Asheville MSA (Buncombe, Haywood, Henderson, and Madison Counties) continued to show signs of recovery in November, supported by strong year-over-year gains that reflect the market’s rebound from last fall’s hurricane-related disruption. Closed sales increased 35.5 percent year-over-year, with 511 homes sold during the month, though activity moderated on a seasonal basis. Buyer demand remained solid, as pending sales rose 14 percent compared to November 2024, with 547 homes placed under contract. New listing activity eased modestly, declining 4.4 percent year-over-year to 588 homes, signaling a return to more typical late-year selling patterns. 

The combination of steady demand and slower listing growth continued to push inventory higher, with the number of homes for sale rising 45.4 percent year-over-year to nearly 2,940 properties, representing 5.3 months of supply and a more balanced market environment. Pricing trends remained relatively stable. The median sales price dipped slightly, down 0.6 percent to $452,220, while the average sales price increased 4.7 percent to $579,099. Sellers continued to list homes at higher price points, with the average list price rising 6.1 percent to $624,716, which contributed to a modest decline in the original list price received to 92.1 percent—still a competitive outcome, even as buyers gained additional negotiating room.

Noyes continued, “While activity naturally softened as we moved into the winter months, buyer demand has remained steady, and inventory has reached more balanced levels. With mortgage rates continuing to ease, we expect conditions to support increased activity as we head into the first quarter, particularly among buyers and sellers who have been waiting for greater stability.”

County Summaries: See data for November 2025

Housing activity in Buncombe County continued to rebound in November, supported by strong year-over-year gains that reflect recovery from last year’s hurricane-related disruption. Closed sales surged 66.3 percent compared to November 2024, with 276 homes sold during the month, while pending sales rose 24 percent year-over-year to 289 homes under contract—signaling sustained buyer demand. New listings were essentially flat, slipping just 0.6 percent to 325 homes, suggesting sellers remain measured as the market transitions into the slower winter season. At the same time, inventory expanded significantly, rising 63.2 percent year-over-year to 1,578 homes for sale, pushing months’ supply up to 5.5 months and bringing conditions closer to balance. Prices showed modest cooling, with the median sales price down 2.5 percent to $482,500, while the average sales price increased 6.7 percent to $650,987, reflecting continued activity at higher price points and more negotiating room for buyers. Days on market increased by 23.3 percent to 69 days on market compared to 56 days on market a year ago.

Haywood County housing activity showed mixed but stabilizing conditions in November, as buyer interest remained steady while overall sales moderated on a year-over-year basis. Closed sales dipped 4.9 percent compared to November 2024, with 77 homes sold during the month, though pending sales increased 12.9 percent year-over-year to 96 homes under contract, signaling continued demand moving into the winter season. New listings edged up 2.4 percent to 86 homes, contributing to further inventory growth, which rose 28.4 percent year-over-year to 447 homes for sale. As a result, months’ supply increased to 5.1 months, bringing market conditions closer to balance. Prices experienced modest cooling, with the median sales price declining 6.2 percent year-over-year to $396,000, while the average sales price slipped 4.7 percent to $452,331. At the same time, sellers continued to test higher price points, pushing the average list price up 20.6 percent to $564,479, reflecting greater negotiating room for buyers and longer days on market at 82 days compared to 62 days in November 2024.

Housing activity in Henderson County showed steady, seasonally adjusted growth in November, supported by rising sales and stable buyer demand. Closed sales increased 19.7 percent year-over-year, with 140 homes sold during the month, while pending sales edged up 3.5 percent to 146 homes under contract. New listing activity slowed, declining 11.9 percent compared to last year, though inventory continued to build, rising 28.3 percent year-over-year to 766 homes for sale. As a result, months’ supply increased to 4.8 months, signaling a shift toward more balanced market conditions. Pricing remained relatively stable, with the median sales price down 1.2 percent to $449,500 and the average sales price easing 1.5 percent to $522,684, providing buyers with modestly improved negotiating leverage while days on market showed homes were averaging 65 days on market compared to 66 days in November 2024.

Madison County’s housing market showed mixed signals in November, reflecting slower seasonal activity alongside improving supply conditions. New listings declined 21.4 percent year over year, while pending sales fell 23.8 percent, signaling softer buyer demand as the market moved deeper into the fall. Despite this slowdown, closed sales rose 38.5 percent compared to last November, likely reflecting contracts written earlier in the fall when interest rates were lower. Prices eased modestly, with the median sales price down 7.5 percent year over year to $430,250, while the average sales price declined 12 percent. Homes took longer to sell, with days on market increasing from 46 to 66 days, underscoring a more deliberate pace for buyers. Inventory continued to build, rising 34.5 percent to 148 homes for sale, pushing months of supply up to 8.3 months and giving buyers more choice and negotiating room as the year comes to a close.

Other counties around the region

Burke County’s housing market softened in November 2025, reflecting seasonal cooling and more cautious buyer behavior. Closed sales declined 13.1 percent year over year, falling from 61 to 53 transactions, even as buyer demand showed resilience with pending sales rising 10.4 percent to 53 homes under contract. New listing activity edged slightly lower, down 1.5 percent year over year, signaling continued restraint on the supply side. Despite slower sales, prices remained firm: the median sales price climbed 10.2 percent year over year to $270,000, while the average sales price declined 13.2 percent to $291,253, indicating a shift toward more moderately priced transactions. Homes took longer to sell, with days on market increasing 8.9 percent to 49 days, and sellers received a slightly smaller share of their original list price at 92.3 percent, down one percentage point from last year. Inventory levels rose 7.9 percent to 233 homes for sale, pushing months supply up to 3.6 months, a 12.5 percent increase year over year, suggesting a gradual move toward more balanced market conditions as 2025 comes to a close.

Jackson County’s housing market showed renewed activity in November 2025, alongside a notable expansion in inventory and supply. Closed sales increased 31.3 percent year over year, rising from 16 to 21 transactions, while buyer demand strengthened as pending sales climbed 22.2 percent to 22 homes under contract. New listing activity surged 24.0 percent year over year, adding more options for buyers and contributing to a sharp rise in available supply. Prices continued to move higher at the median level, with the median sales price up 7.0 percent to $395,000, while the average sales price jumped 64.6 percent to $745,452, reflecting a greater share of high-end transactions during the month. Market times lengthened, with days on market increasing 12.9 percent to 70 days, and sellers received a slightly lower share of their original list price at 91.3 percent, down 1.5 percentage points from last year. Inventory more than doubled, rising 102.6 percent to 158 homes for sale, pushing months supply to 7.5 months—up 97.4 percent year over year—signaling a clear shift toward more balanced, and in some segments buyer-leaning, market conditions as the year concludes.

McDowell County’s housing market showed sharply higher sales activity in November 2025, even as pricing softened and market times lengthened. Closed sales surged 147.1 percent year over year, rising from 17 to 42 transactions, supported by a 30.0 percent increase in pending sales, which climbed to 39 homes under contract—an indication of renewed buyer engagement. At the same time, new listings declined 24.3 percent year over year, limiting fresh supply entering the market. Prices moved lower, with the median sales price falling 17.0 percent to $292,500 and the average sales price declining 7.8 percent to $430,526, reflecting a shift toward more affordable transactions. Homes took longer to sell, as days on market more than doubled, increasing 116.2 percent to 80 days, while sellers received a smaller share of their original list price at 88.3 percent, down 7.6 percentage points from last year. Inventory rose 18.5 percent to 186 homes for sale, though months supply edged slightly lower to 5.0 months, suggesting that despite growing inventory, elevated sales activity helped keep overall market balance relatively steady as the year comes to a close.

(Due to smaller sample sizes in counties where there is a smaller pool of listings, percentage increases or decreases may seem extreme.)

Mitchell County posted substantial year-over-year gains in October, with new listings up 525 percent to 25 and pending sales rising 433.3 percent as 16 homes went under contract; closed sales also more than doubled to 17. Prices strengthened considerably, with the median sales price increasing 37.1 percent to $425,000 and the average sales price rising 6.1 percent to $395,176. Sellers received 90.3 percent of their original list price, an improvement over last year, as days on market fell from 111 to 71 days. Inventory increased 34.3 percent to 94 homes, pushing months of supply to 8.7. The average list price climbed 72.3 percent to $426,756, reflecting a surge of higher-value listings. 

(Due to smaller sample sizes in counties where there is a smaller pool of listings, percentage increases or decreases may seem extreme)
Polk County’s housing market posted stronger sales activity in November 2025, alongside rising prices and a growing supply of homes. Closed sales increased 60.0 percent year over year, rising from 10 to 16 transactions, while buyer demand accelerated with pending sales up 52.4 percent to 32 homes under contract. New listing activity declined 9.7 percent from last November, though year-to-date figures show broader listing growth, contributing to expanding inventory. Prices moved sharply higher, with the median sales price jumping 26.5 percent year over year to $562,500, and the average sales price rising 51.7 percent to $696,812, reflecting a greater share of higher-end transactions. Homes sold more quickly, as days on market dropped 69.1 percent to 25 days, and sellers captured a higher share of their original list price at 93.9 percent, up 3.6 percentage points from last year. Inventory increased 38.2 percent to 170 homes for sale, pushing months supply to 7.1 months, up 34.0 percent year over year, signaling increased choice for buyers even as demand strengthened.

Rutherford County’s housing market recorded stronger sales activity in November 2025, even as listing and contract activity eased and market times lengthened. Closed sales rose 21.3 percent year over year, increasing from 47 to 57 transactions, while buyer demand softened slightly, with pending sales down 3.9 percent to 49 homes under contract. New listings also declined 9.0 percent from last November, limiting fresh inventory entering the market. Prices moved sharply higher, with the median sales price climbing 31.3 percent year over year to $334,900, and the average sales price rising 26.6 percent to $411,174, reflecting continued upward pressure on values. Homes took longer to sell, as days on market increased 9.9 percent to 78 days, and sellers received a slightly smaller share of their original list price at 89.9 percent, down 1.4 percentage points from last year. Inventory increased 8.1 percent to 335 homes for sale, pushing months supply to 5.8 months, up 9.4 percent year over year, signaling a more balanced market as 2025 draws to a close.

Transylvania County’s housing market showed mixed signals in November 2025, with steady sales activity alongside rising inventory and softer pricing. Closed sales were unchanged year over year at 37 transactions, while buyer demand strengthened as pending sales increased 22.6 percent to 38 homes under contract. New listings rose 9.1 percent from last November, adding fresh supply to the market. Prices moderated, with the median sales price declining 9.8 percent year over year to $550,000, and the average sales price falling 19.4 percent to $673,794, reflecting a shift away from higher-priced transactions during the month. Homes generally sold more quickly, as days on market declined 6.8 percent to 69 days, though sellers received a smaller share of their original list price at 89.2 percent, down 2.5 percentage points from a year ago. Inventory expanded significantly, rising 58.0 percent to 275 homes for sale, pushing months supply up to 6.5 months, an increase of 51.2 percent year over year, signaling a move toward more balanced market conditions as buyer choice improves.

For more residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.” For an interview with a Realtor®/broker representing the Canopy MLS service area in the western/mountain region of North Carolina, please contact Kim Walker.

Canopy MLS is a wholly-owned subsidiary corporation of Canopy Realtor® Association and is the private broker cooperative used by Realtors® to bring buyers and sellers together with access to thousands of residential listings in a multicounty service area, including Charlotte, Asheville and Catawba Valley regions spanning across North Carolina, South Carolina and outside of the Carolinas. Canopy MLS, which has 21,000 subscribers, provides the most trustworthy, timely, accurate and complete property data along with proprietary tools for showings, market stats, predictive analytics, and more. Canopy MLS is used by its members to support consumers in their residential real estate transactions, whether selling, buying, investing or renting.