March 11, 2025

Contact: Kim Walker, 704-940-3149

CHARLOTTE, N.C. —  The Asheville region and MSA housing markets continued to demonstrate resilience at the start of the year, even as recovery and rebuilding efforts from Hurricane Helene persist. In January, closed sales remained steady year-over-year, rising slightly by 0.3 percent as buyers purchased 640 homes. However, month-over-month closings declined by 9.2 percent. The annual increase in sales aligns with broader trends across other Canopy MLS markets, where stabilizing interest rates and modest affordability improvements supported buyer activity. Canopy MLS sales represented in this report are for single-family, condo, and townhome sales only.

Pending contracts, a key indicator of buyer demand, rose 2.2 percent year-over-year, with 746 properties going under contract in January. Compared to December 2024, contract activity increased by 15.1 percent, signaling strong potential for future sales, provided these transactions progress to closing within the typical 40- to 60-day window.

New listings surged 22.4 percent across the region, reflecting continued strong seller confidence, as 906 properties entered the market. This influx significantly boosted inventory and supply. Month-over-month, new listings rose by 35.6%—a seasonal trend often seen following the holiday period.

The increase in listings pushed inventory levels 29.7 percent higher than in January of the previous year, while months of supply grew by 40 percent to 3.5 months, moving the market closer to a balanced market (typically defined as 4 to 6 months of supply).

Home prices across the region continued to climb. The median sales price increased by 6.7 percent year-over-year to $421,375, while the average sales price rose by 2.3% to $515,721.

On average, homes spent 68 days on the market in January, reflecting a 28.3 percent increase from the previous year, as seasonality allowed buyers more time to evaluate their options amid rising inventory levels. Sellers received an average of 93.8 percent of their original asking price, up slightly from 93.2 percent a year earlier—indicating that while buyers gained more negotiating power, sellers were still able to secure the majority of their listing price.

“The Asheville region’s housing market continues to demonstrate resilience in the face of ongoing recovery from Hurricane Helene. While January’s sales activity held steady year-over-year, the increase in new listings and inventory signal growing confidence among sellers and will help buyers with increased choices,” said Dave Noyes, a Canoy MLS Board of Director and Designated Managing Broker with eXp Realty.

The Asheville MSA

January sales across the Asheville Metropolitan Statistical Area (MSA) increased by 1.5 percent, with 415 homes sold during the month. Pending sales saw a similar year-over-year increase of 1.6%, with 498 contracts written. Month-over-month, closings declined by 14.3 percent compared to December’s activity, while pending sales rose by 14.5 percent, signaling strong future sales momentum.

Seller confidence across the MSA surged by 30.9 percent compared to last January, as sellers introduced 610 new listings to the market. This influx helped boost inventory by 34.5 percent to nearly 1,700 listings at report time on January 6, 2025. Months of supply also rose by 43.5 percent to 3.3 months, providing increased opportunities for buyers ahead of the spring selling season.

Both median and average sales prices continued to climb. The median sales price increased by 8.3 percent year-over-year to $455,000, while the average sales price rose by 4.3 percent to $546,301. The average list price also increased by 5.1 percent year-over-year, reaching $643,015. Sellers received an average of 94.7 percent of their original asking price, slightly up from 94.2 percent in January 2024. Meanwhile, days on market increased by 23.5 percent year-over-year to 63 days, reflecting a return to typical seasonal trends at the start of the year.

Noyes continued, “With pending contract activity on the rise and affordability showing slight improvements, the market is gradually stabilizing, allowing buyers the ability to shop with some degree of ease, just ahead of the prime selling season. With rebuilding efforts ongoing, the region’s housing market continues to show both adaptability and strength."

County Summaries reflect yearend/annual figures only. See data for January 2025

Buncombe County — Buncombe County’s housing activity in January 2025 exhibited mixed trends, reflecting both growth in inventory and pricing while experiencing a slight decline in closed sales. New listings increased by 19.7 percent year-over-year, with 298 homes entering the market compared to 249 in January 2024. Pending sales saw a modest rise of 1.6 percent, indicating continued buyer interest, though closed sales dipped by 4.6 percent, with 208 transactions completed.

Home prices continued their upward trajectory, with the median sales price rising 9.5 percent to $475,000 and the average sales price increasing 3.2 percent to $599,380. Sellers benefited from slightly stronger negotiation positions, as the percentage of original list price received improved to 94.8 percent, up from 93.8 percent the previous year.

The market's inventory grew significantly, with the number of homes for sale increasing by 21 percent to 778, and the months' supply of inventory rising 31.8 percent to 2.9 months. These shifts signal a gradual move toward a more balanced market, offering buyers increased options. However, homes took longer to sell, a reflection of seasonality, with average days on market climbing 29.8 percent to 61 days.

Haywood County — In January 2025, the Haywood County housing market experienced significant inventory growth and rising home prices, despite a slight dip in closed sales. New listings surged by 50.8 percent year-over-year, with 89 homes entering the market compared to 59 in January 2024. Pending sales also increased by 20.7 percent, indicating continued buyer interest, though closed sales declined slightly by 1.4 percent, with 68 transactions completed.

Home prices continued their upward trend, with the median sales price rising 7.9 percent to $418,500 and the average sales price increasing 3.5 percent to $445,906. Sellers saw improved negotiation power, as the percentage of the original list price received grew to 94.6 percent, up from 92.6 percent the previous year.

Inventory also increased, with the number of homes for sale rising by 48.5 percent to 297, and the months’ supply of inventory jumping 58.3 percent to 3.8 months. This expansion in supply provides buyers with more choices and suggests a shift toward a more balanced market. Meanwhile, homes sold quickly, as the average days on market fell 8.8 percent to 62 days, indicating steady demand.

Overall, Haywood County’s housing market is seeing strong seller confidence, and growing inventory, creating favorable conditions for both buyers and sellers heading into the spring season.

Henderson County — In January 2025, Henderson County's housing market experienced a notable increase in new listings and inventory, alongside rising home prices and strong closed sales activity. New listings surged by 41.1 percent year-over-year, with 199 homes entering the market compared to 141 in January 2024. Closed sales saw a significant increase of 16.2 percent with 122 transactions completed, highlighting steady buyer demand. However, pending sales declined by 6.3 percent, suggesting a possible slowdown in future closings.

Home prices continued to rise, with the median sales price increasing by 5.3 percent to $444,750, while the average sales price climbed 9.7 percent to $515,614. Despite this growth, sellers received slightly less of their original list price, with the percentage dropping from 95.7 percent to 95.0 percent.

Inventory expanded considerably, with the number of homes for sale rising by 58.0 percent to 512, and the months' supply of inventory increasing by 66.7 percent to 3.5 months. These trends indicate an evolving market that may provide buyers with more options and negotiating power. Meanwhile, homes spent more time on the market, with the average days on market rising by 31.1 percent to 59 days.

Madison County — In January 2025, Madison County's housing market saw a sizable increase in inventory and home prices while maintaining steady closed sales. New listings increased by 41.2 percent year-over-year, with 24 properties entering the market compared to 17 in January 2024. Pending sales also rose by 11.1 percent, indicating growing buyer interest, though closed sales remained unchanged at 17 transactions.

Home prices continued to rise, with the median sales price up 10.8 percent to $489,975 and the average sales price increasing 4.4 percent to $518,666. However, sellers received slightly less of their original asking price, with the percentage dropping from 94.7 percent to 92.0 percent.

Inventory expanded significantly, with the number of homes for sale growing by 13.1 percent to 95, and the months' supply of inventory jumping 50.0 percent to 5.1 months, bringing the market closer to balanced conditions. Homes took longer to sell, as the average days on market nearly doubled, increasing by 93.8 percent to 126 days, a typical sign of seasonality.

Noyes continued, “We expect tourism to return to the region, just as buyers have, ensuring that the region will continue to prosper. This reinforces that both new construction and existing-homes will continue to be vital to infrastructure as we recover.”

Other counties around the region

Burke County — In January 2025, Burke County’s housing market exhibited a mix of growth in sales activity and inventory while facing pricing adjustments and extended market times. New listings saw a slight decline of 4.7 percent year-over-year, with 61 homes added to the market compared to 64 in January 2024. Pending sales also dipped by 9.3 percent, indicating a possible slowdown in future transactions. However, closed sales increased by 16.7 percent, with 56 homes sold, reflecting continued buyer engagement.

Home prices experienced mixed trends, with the median sales price decreasing by 2.0 percent to $250,000, while the average sales price surged by 35.6 percent to $376,876, indicating a higher concentration of higher-priced home sales. Sellers saw a decrease in negotiating power, as the percentage of original list price received fell from 94.9 percent to 91.6 percent.

Inventory levels expanded significantly, with the number of homes for sale rising by 45.5 percent to 208, and the months' supply of inventory increasing by 34.8 percent to 3.1 months. This growth in available homes suggests the market is moving towards balance, (4-6 months of supply) favoring neither buyers nor sellers. Meanwhile, seasonality has set in, reflecting longer time on market, with days on market increasing by 122.2 percent to 80 days.

Jackson County — In January 2025, Jackson County’s housing market saw shifts in pricing and sales activity, despite a slight decline in new listings. The number of new listings decreased by 6.3 percent year-over-year, with 15 homes entering the market compared to 16 in January 2024. Pending sales, however, rose by 14.3 percent, indicating a steady level of buyer interest, even as closed sales declined by 15.8 percent to 16 transactions.

Home prices increased, with the median sales price rising by 25.4 percent to $441,250, while the average sales price rose 8.7 percent to $597,700. Sellers also saw stronger negotiating power, with the percentage of the original list price received jumping from 87.3 percent to 94.4 percent this past January.

Inventory levels declined slightly, with the number of homes for sale dropping by 7.1 percent to 65, and the months’ supply of inventory decreasing by 13.9 percent to 3.1 months. Time on market declined in January, as the average days on market fell 20.2 percent to 67 days.

McDowell County — McDowell County’s housing market in January 2025 showed a mix of expanding inventory and rising home prices, alongside a decline in closed sales. New listings increased by 14.7 percent year-over-year, with 39 homes entering the market, while pending sales rose by 13.5 percent, indicating continued buyer interest. However, closed sales dropped sharply by 29.4 percent, suggesting a slowdown in completed transactions despite active market engagement.

Still, home prices reflected positive growth, with the median sales price increasing by 9.4 percent to $315,000. However, the average sales price fell by 26.0 percent to $358,141, likely influenced by a shift toward more mid-range home sales. Sellers saw improved conditions, receiving 91.4% of their original list price, up from 89.3 percent in the previous year.

Inventory levels remained relatively stable, with the number of homes for sale increasing by 2.7 percent to 113, and months' supply of inventory rising by 12.1 percent to 3.7 months, suggesting a more balanced market. As seasonality set in, homes took longer to sell, with the average days on market increasing by 30.8 percent to 68 days.

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

Mitchell County — Mitchell County’s housing market saw a jump in new listings and pending sales in January 2025, alongside increased closed transactions and a shift in pricing trends. New listings rose by 160.0 percent year-over-year, with 13 homes hitting the market compared to just 5 in January 2024. Pending sales also doubled, rising by 100.0 percent, while closed sales increased by 42.9 percent to 10 transactions, indicating increased buyer engagement.

The median sales price rose by 4.1 percent to $405,000, suggesting stable demand, while the average sales price declined by 27.6 percent to $381,600, likely due to a greater share of mid-priced homes being sold. Sellers received 90.0 percent of their original asking price, up slightly from 89.2 percent last year, showing modest improvement in negotiation leverage.

Inventory expanded by 21.3 percent, with 57 homes available for sale, and the months’ supply of inventory grew by 45.0 percent to 5.8 months, signaling a shift towards balance and a more buyer-favorable market. However, homes took longer to sell, typical for this time of year, with the average days on market rising by 31.9 percent to 95 days, and cumulative days on market increasing by 39.0 percent to 139 days.

(Due to smaller sample sizes in counties where there is a smaller pool of listings, percentage increases or decreases may seem extreme)
Polk County — Polk County’s housing market in January 2025 experienced a significant increase in new listings and price appreciation, despite a slight decline in closed sales. New listings more than doubled, rising by 130.8 percent year-over-year, with 30 properties entering the market compared to just 13 in January 2024. Pending sales also increased by 25.0 percent, signaling continued buyer interest, even as closed sales dipped by 9.1 percent to 20 transactions. Home prices climbed significantly, with the median sales price increasing by 12.9 percent to $491,250 and the average sales price jumping 38.8 percent to $604,088, reflecting the sale of higher-end properties.

Inventory levels also grew, with the number of homes for sale increasing by 20.7 percent to 111, and the months’ supply of inventory rising by 26.3 percent to 4.8 months, as the market moves closer to balance. Homes took longer to sell, with average days on market increasing by 30.8 percent to 85 days, and cumulative days on market rose by 40.3 percent to 94 days. Sellers received an average of 92.0 percent of their original asking price, up slightly from 91.5 percent during the previous year.

Rutherford County — Rutherford County’s housing market in January 2025 remained steady, with consistent new listings and moderate growth in sales activity. The number of new listings held steady year-over-year at 83, while pending sales increased by 7.5 percent, signaling steady buyer interest. Closed sales also rose by 6.5 percent to 49 transactions, reflecting continued market activity despite a slight dip in home prices.

The median sales price declined by 1.2 percent to $240,000, while the average sales price fell more significantly by 25.7 percent to $294,053, suggesting a shift toward more affordable home sales. Sellers, however, benefited from improved negotiation power, as the percentage of the original list price received increased to 93.6%, up from 91.6% the previous year.

Inventory expanded significantly, with the number of homes for sale rising by 30.2 percent to 263, and the months’ supply of inventory growing by 33.3 percent to 4.4 months, indicating a move toward a more balanced market. Homes took longer to sell, which is typical given seasonality, with days on market increasing by 26.7 percent to 76 days.

Transylvania County — Transylvania County’s housing market in January 2025 saw rising home prices and increased inventory, even as sales activity slowed. New listings declined by 12.8 percent year-over-year, with 34 homes entering the market compared to 39 in January 2024. Pending sales dropped by 23.3 percent, and closed sales fell by 25.0 percent to 27 transactions, indicating a cooling in buyer demand.

Despite lower sales activity, home prices surged, with the median sales price increasing by 13.1 percent to $513,000 and the average sales price rising by 15.9 percent to $876,389. Sellers maintained stable negotiation power, receiving 90.6 percent of their original asking price, a slight increase from 90.3 percent the previous year.

Inventory expanded significantly, with the number of homes for sale rising by 34.0 percent to 142, while the months’ supply of inventory rose by 40.0 percent to 3.5 months, signaling a gradual shift toward a more balanced market. Homes also took longer to sell, with the average days on market increasing by 19.3 percent to 68 days.

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

Yancey County — Yancey County’s housing market in January 2025 saw a mix of rising closed sales and increasing average prices, despite a decline in new listings and fluctuating inventory levels. The number of new listings decreased by 13.3 percent year-over-year, with 13 homes coming to market, while pending sales grew by 7.7 percent. Closed sales experienced a 50.0 percent increase, reaching 15 transactions last month.

Home prices showed mixed trends, with the median sales price declining by 7.2 percent to $320,000, while the average sales price rose by 18.3 percent to $476,333. Sellers gained more leverage, as the percentage of the original list price received increased from 90.3 percent to 92.6 percent.

Market times increased, with the average days on market rising by 54.1 percent to 94 days. Inventory levels slightly declined by 4.1 percent to 70 homes, while the months’ supply of inventory grew modestly by 7.3 percent to 4.4 months, signaling a more balanced market.

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.