May 30, 2025

Contact: Kim Walker, 704-940-3149

Increases in new listings and inventory provide more options for buyers as summer selling season approaches

ASHEVILLE, N.C. — Home sales across the Asheville region in April 2025 continue to show the market transitioning towards balance, with declines in closed and pending sales offset by a strong increase in new listings. Closed sales fell 6.9 percent year-over-year, with 782 homes sold compared to 840 in April 2024. Month over month, closings were up 7.3 percent, despite higher mortgage rates and economic turbulence throughout the first quarter of the year. 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.

Buyer activity cools slightly, while seller activity continues to rise

Pending sales, which serve as a forward-looking indicator of market activity, also declined by 5.1 percent, reflecting 901 homes under contract compared to 949 the previous year. Contract activity declined 2.3 percent month-over-month. Showing activity indicated steady buyer interest in Buncombe County this past month, with listings averaging 2.9 showings (or potential buyers) per listing. The city of Asheville had the strongest buyer foot traffic, with homes averaging 3 showings per listing, followed by homes in Hendersonville, which averaged 2.4 showings per listing. 

However, seller activity was on the rise, as new listings jumped 20.2 percent year-over-year, bringing 1,656 homes to market in April 2025. This surge in listings helped boost inventory levels to 3,796 homes for sale, a 45.8 percent increase from the same time last year. Months supply of inventory also rose sharply to 4.9 months, up from 3.1 months in April 2024—a 58.1 percent gain that signals improving conditions for buyers. 

“As we head into the summer selling season, we’re seeing signs that the western region of NC is shifting toward a healthier market balance. While sales have slowed slightly, the strong increase in new listings and rising inventory is giving buyers more options and room to negotiate—something we haven’t seen in several years.” said Dave Noyes, Canopy MLS Board of Director and Designated Managing Broker with eXp Realty. “This rebalancing, paired with steady buyer interest in key areas like Asheville and Hendersonville, positions us well for a more competitive and active summer. It’s encouraging to see both buyers and sellers re-engaging in the market, despite ongoing economic uncertainty.”  

Home prices in the region remained relatively stable, with modest changes from the previous year. The median sales price increased 2.1 percent to $423,750, while the average sales price declined slightly by 2.1 percent to $515,521. The average list price rose 6.0 percent year-over-year to $655,380, indicating seller confidence in pricing. Meanwhile, sellers received 95.2 percent of their original list price on average, a slight dip from 95.4 percent in April 2024.

The average number of days from listing to closing extended to 107 days—up 13.8 percent—while homes spent an average of 61 days on market prior to sale, a 27.1 percent increase. These indicators reflect longer marketing times and greater negotiation flexibility, as the market continues to rebalance from the fast-paced conditions of prior years.

The Asheville MSA
Similar to the region, the Asheville MSA’s housing market in April continued to shift towards greater balance, with listing activity on the rise and sales holding relatively steady. Closed sales were nearly unchanged, dipping just 0.4 percent year-over-year to 528 homes sold, but were up 5.8 percent compared to March.

Pending sales, however, declined 6.5 percent from the previous April, falling to 588 properties under contract. Month-over-month contract activity was down slightly by 2.3 percent. 

The most significant shift came from sellers, with new listings jumping 25.7 percent, as 1,095 homes were added to the market compared to 871 last year. This surge in listing activity helped fuel a 53.7 percent increase in inventory, bringing the total number of homes for sale to 2,362. As a result, months supply of inventory expanded to 4.7 months—up from 2.8 months in April 2024—indicating a market that is becoming more balanced and favorable to buyers.  The National Association of Realtors® defines a balanced market when supply is approximately five to seven months of homes for sale, and favors neither the seller nor the buyer.

Prices stable with some fluctuations in April   

Prices in the MSA remained mostly stable with minor fluctuations. The median sales price rose 1.8 percent to $457,525, while the average sales price edged down slightly by 0.9 percent to $566,130. Meanwhile, the average list price climbed 7.1 percent to $696,185, suggesting seller expectations remain strong. On average, sellers received 95.8 percent of their original list price, a slight dip from 96.3 percent a year ago.

Homes continue to spend more time on market, allowing buyers more room to negotiate, as the market recalibrates from faster selling times of recent years. The average time from list to close extended to 107 days—an increase of 16.3 percent—while homes spent an average of 60 days on market before selling, a notable rise of 36.4 percent. These shifts reflect a cooling pace in transaction timelines and increased negotiation room for buyers, as the market continues to recalibrate from the highs of recent years. 

Noyes continued, “The Asheville MSA continues to show signs of a stabilizing market, with more homes coming to market and price trends holding steady. This increase in inventory is creating a healthier environment for buyers, offering more choice and flexibility as we move into the summer season. It’s a positive step toward long-term sustainability for the Asheville-area housing market. Working with a Realtor® with access to Down Payment Resource tools available on nearly 83 percent of Canopy MLS listings can help buyers achieve greater affordability at the closing table.”

County Summaries See data for April 2025

Buncombe County’s housing market in April reflected shifting dynamics as inventory expanded and buyer activity slowed. Closed sales fell 7.5 percent year-over-year to 270 homes sold, while pending sales dropped more sharply by 18.5 percent, indicating softer demand. In contrast, seller activity increased substantially, with new listings up 27.8 percent to 602, helping drive a 65.3 percent increase in total inventory. As a result, months supply of inventory nearly doubled to 4.8 months, up from 2.5 months a year ago.

Despite cooler sales activity, home prices remained firm, with the median sales price rising 5.3 percent to $500,000 and the average sales price up 2.1 percent to $631,452. The average list price increased 3.9 percent to $777,054, though the percent of original list price received dipped slightly to 95.7 percent. Homes spent more time on the market, with the average days on market until sale rising to 47 days, a nearly 12 percent increase from last year.
 

In April 2025, Haywood County’s housing market demonstrated strong momentum, with both buyer and seller activity increasing. Closed sales rose slightly by 1.3 percent year-over-year to 77 homes sold, while pending sales were up 7.0 percent, reflecting continued buyer interest. New listings surged 72.0 percent compared to last year, bringing 172 homes to market and helping to drive a 59.6 percent increase in overall inventory. As a result, the months supply of inventory expanded to 5.1 months, up from 3.0 months, indicating a clear move toward a more balanced market.

Home prices saw notable growth, with the median sales price rising 13.4 percent to $411,000 and the average sales price jumping 27.0 percent to $520,722. Sellers also received more of their asking price, with the percent of original list price received increasing to 95.1 percent. However, homes took longer to sell, with the average days on market until sale doubling to 81 days, pointing to a slower pace in the transaction process. 

Henderson County’s housing market saw an uptick in activity, with notable gains in both buyer and seller engagement. Closed sales rose 22.2 percent year-over-year to 165 homes sold, while pending sales increased 12.9 percent, indicating sustained buyer interest. New listings edged up 2.2 percent to 282 homes, contributing to a 33.6 percent boost in total inventory. This helped push the months supply of inventory to 4.1 months, up from 3.1 months the year prior. The median sales price dipped slightly by 1.1 percent to $450,000, and the average sales price dropped 15.9 percent to $494,328, possibly reflecting a shift in the mix of homes sold.

Despite this, the average list price rose 15.1 percent to $643,969, and sellers still received 96.2 percent of their original asking price on average. Homes took longer to sell, with the average days on market until sale increasing to 71 days, up 65.1 percent from last April, suggesting more time and flexibility for buyers in a market gradually rebalancing.

In April 2025, Madison County’s housing market saw a sharp drop in closed sales, which fell 40.7 percent year-over-year to just 16 homes sold. Pending sales also declined by 8.7 percent, signaling weaker buyer activity. However, new listings surged 62.5 percent compared to last April, bringing 39 homes to market and pushing overall inventory up 44.3 percent. The months supply of inventory doubled to 6.6 months, marking a significant shift toward a buyer’s market.

Even with softer sales this past month, sellers received more of their asking price, with the percent of original list price received rising to 98.2 percent. Home prices retreated somewhat in the short term, with the median sales price down 12.0 percent to $369,500 and the average sales price falling 3.7 percent to $422,805. Interestingly, while prices declined, homes sold more quickly, with the average days on market until sale dropping to 47 days—a 39.0 percent improvement over last year.

Other counties around the region

Burke County's housing market showed mixed trends, with buyer activity holding steady while listing activity slowed. Closed sales declined slightly by 2.7 percent year-over-year to 72 homes sold, and pending sales rose modestly by 6.4 percent, signaling some forward momentum. However, new listings dropped 10.2 percent to 97, which slightly constrained supply growth. Inventory still increased 23.0 percent year-over-year, reaching 225 homes for sale, and the months supply of inventory grew to 3.4 months, up from 2.9 months.

Even with more choices for buyers, prices softened: the median sales price fell 8.0 percent to $256,500, and the average sales price dropped 22.1 percent to $285,961. The average list price, however, rose sharply by 23.6 percent to $429,345, suggesting sellers remain confident in pricing. Homes took longer to sell, with average days on market until sale increasing 93.3 percent to 58 days, indicating buyers are taking more time and exercising greater selectivity.

In April 2025, Jackson County’s housing market experienced a decline in buyer activity alongside modest gains in inventory. Closed sales dropped 37.0 percent year-over-year to just 17 homes sold, while pending sales fell 27.3 percent, signaling continued softening in demand. Despite this, new listings rose 22.2 percent, bringing 44 homes to market and contributing to a 17.2 percent increase in overall inventory. Months supply of inventory increased to 5.6 months, up from 4.7 months in April 2024, indicating more favorable conditions for buyers.

The median sales price declined 4.8 percent to $356,900, and the average sales price dipped 5.4 percent to $373,895. Sellers received slightly less of their asking price, with the percent of original list price received falling to 94.4 percent. However, homes sold more quickly, with average days on market until sale improving to 48 days—a 20 percent decrease from last year. 

McDowell County’s housing market showed mixed signals, with stronger listing and contract activity but fewer completed sales. Closed sales dropped 24.4 percent year-over-year to 31 homes sold, even as pending sales rose 25.8 percent, pointing to increased buyer interest that may close in the months ahead. New listings surged 56.3 percent to 75 homes, contributing to a 47.5 percent increase in total inventory. This supply boost pushed months supply of inventory up to 5.7 months from 3.5 months last year, marking a shift toward a more buyer-friendly market.

Pricing remained relatively stable: the median sales price slipped just 0.7 percent to $280,000, while the average sales price rose 2.6 percent to $361,713. The average list price increased sharply by 18.6 percent to $563,791, though sellers received 91.1 percent of their original asking price, down slightly from last year. Homes took longer to sell, with average days on market until sale increasing to 69 days, up 7.8 percent from a year ago. 

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

In April 2025, Mitchell County’s housing market saw limited sales activity but notable price appreciation and growth in inventory. Closed sales declined 33.3 percent year-over-year, with just six homes sold, while pending sales fell 23.1 percent, indicating softer short-term demand. New listings increased 14.3 percent to 24 homes, boosting inventory by 26.3 percent and bringing the months supply of inventory to 7.6 months—up from 5.5 months a year ago—suggesting a strong shift toward a buyer’s market.

Despite fewer transactions, the median sales price surged 30.8 percent to $327,000, while the average sales price declined 11.9 percent to $355,333, likely reflecting variability in the types of properties sold. Sellers received 98.8 percent of their original asking price on average, a substantial improvement over last year, and homes remained on the market for an average of 92 days, a slight 2.2 percent increase year-over-year. 

(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 in April saw a dramatic rise in listing activity alongside softening sales and a surge in home prices. New listings soared 68.3 percent year-over-year to 69 homes, contributing to a 59.2 percent increase in inventory and pushing months supply of inventory up to 7.4 months—well above the 4.4 months recorded in April 2024. Closed sales dipped 8.7 percent to 21 homes, while pending sales remained stable with a modest 3.6 percent increase. The median sales price jumped 39.7 percent to $510,000, and the average sales price rose 6.7 percent to $492,929, reflecting strong pricing power in higher-end market segments.

Sellers received slightly less of their asking price on average in April, with the percent of original list price received falling to 91.2 percent. Homes also took longer to sell, with the average days on market until sale increasing 34.8 percent to 62 days, suggesting buyers are becoming more deliberate in a shifting market.

In April 2025, Rutherford County’s housing market softened as both buyer and seller activity slowed compared to the previous year. Closed sales declined 15.8 percent to 48 homes, while pending sales were down 17.1 percent, pointing to reduced short-term demand. New listings also fell 11.5 percent year-over-year to 115 homes, yet inventory still rose 30.9 percent, bringing the months supply of inventory up to 5.5 months from 3.9 months last April.

Home prices continued to climb, with the median sales price up 7.7 percent to $280,000 and the average sales price rising 5.8 percent to $362,836. Sellers received 94.6 percent of their original asking price on average, slightly higher than a year ago. Homes spent a bit more time on the market, with average days on market until sale increasing to 68 days, suggesting buyers are taking more time amid growing inventory and shifting conditions. 

Transylvania County — In April 2025, Transylvania County’s housing market experienced softer sales activity alongside rising inventory and seller participation. Closed sales declined 21.8 percent year-over-year to 43 homes, while pending sales saw a 14.0 percent uptick, suggesting a potential rebound in future closings. New listings increased 16.7 percent to 84 homes, helping to boost overall inventory by 47.6 percent and pushing months supply of inventory from 3.4 to 5.5—an increase of nearly 62 percent, creating more favorable conditions for buyers.

The median sales price fell 6.8 percent to $512,500, while the average sales price dipped slightly by 2.0 percent to $691,066. Sellers received 93.8 percent of their original asking price on average, holding steady compared to last year. Homes took longer to sell, with average days on market until sale rising 12.1 percent to 65 days, reflecting a slower pace amid increased supply and pricing adjustments.

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.