May 31, 2024

Contact: Kim Walker, 704-940-3149

CHARLOTTE, N.C. — Home sales for the 13 counties in the Asheville region where Canopy MLS trends data rose 3.3 percent year-over-year as 825 homes sold compared to 799 that sold a year ago in April. The region’s sales compared to March 2024 were up 12 percent as buyers continued navigating higher mortgage rates and rising prices.  Canopy MLS sales represented in this report are for single-family, condo, and townhome sales only.

The region’s contract activity continued to push higher, rising 7.4 percent as 1,005 homes went into under-contract status during the month compared to 936 that were pending a year ago in April. Month-over-month contract activity was up 9.6 percent as buyers continued to indicate their strong desire to live within the Asheville region.  According to April Showing reports, buyer interest and foot traffic remained high in Buncombe County, where listings averaged four showings or (potential buyers) per listing. The city of Asheville ranked high for buyers, where listings averaged 4.5 showings per listing followed by the city of Hendersonville, where listings in April had 3.9 showings per listing. 

New listings and seller confidence rose again in April by 21 percent year-over-year as 1,360 new listings were added to the market compared to 1,124 in April 2023. New listings have risen consistently each month since October 2023 which has helped to improve the region’s inventory and supply.

“Overall the housing market seems to be improving with more inventory and supply added each month to meet the steady demand we’re seeing from buyers,” said Caleb Phillips, a Canopy MLS Board of Director and Realtor®/broker with Lusso Realty. “Despite higher rates, we are starting to see an uptick in more affordable inventory in the $300,000 range, presenting more opportunities for first-time buyers. Later this year, mortgage rates are expected to decline, which will boost overall purchasing power; by that time buyers will likely have more choices in homes, due to the consistent listing activity we’ve seen over the last several months.” 

April marked eight consecutive months of improvement in inventory for the region. April’s inventory rose 35.9 percent year-over-year to 2,425 homes for sale or 2.9 months of supply.  Last April, the region had only two months of supply across 13 counties. Still, with demand rising consistently amidst limited supply, prices rose. Both the median sales price ($415,000) and the average sales price ($530,350) rose 8.3 percent and 13.6 percent year-over-year respectively, while the region’s list price increased 11.8 percent to $641,971.  This brought the original list price to sales price measure down slightly to 95.3 percent while days on market increased and showed homes on market for 48 days compared to 45 days on market in April 2023.

Asheville MSA 

Sales across Asheville’s metro declined slightly, 3.9 percent year-over-year as 521 homes sold compared to 542 sold in April 2023. Sales were up compared to March 2024 by 6.3 percent. Contracts also rose in April by 2.7 percent compared to the previous April and were up 9.9 percent compared to March 2024. New listings also improved in April, rising 14.9 percent year-over-year as sellers brought 858 new listings to the market.

Both inventory and supply rose 30 percent and 36.8 percent respectively, boosting inventory to 1,434 homes for sale at report time in April, or 2.6 months of supply, compared to 1.9 months of supply during the same period last year.  All price indices rose, based on steady buyer demand.  Both the median sales price ($454,500) and the average sales price ($575,460) increased 8.7 percent and 13.1 percent across the MSA.  The average list price increased 12.1 percent to $670,755, bringing the original list price to sales price measure to 96.3 percent.

Time on market was unchanged compared to last year with homes in the MSA averaging 44 days on market until sale.

Phillips continues, “Steady buyer demand along with low supply continues to keep prices elevated throughout the MSA, as Asheville-area buyers are drawn to the city's job centers and amenities. With our complex and changing market, a buyer’s agent’s expertise in understanding market trends, pricing, and negotiation is essential to a successful transaction.

Counties in the MSA

Buncombe County home sales rose 1.1 percent in April as 288 homes sold compared to 285 that sold in April 2023.  Contracts rose by 10.2 percent as 368 homes went into under contract status during the month compared to 334 that were under contract a year ago. New listings jumped by 13.5 percent to 462 new listings added to the market compared to 407 in April 2023, boosting inventory and supply by 23.8 percent and 33.3 percent year-over-year respectively. At report time there were 702 properties in inventory or 2.4 months of supply.  Supply last April stood at 1.8 months. Prices rose modestly during the month.  Both the median sales price ($475,000) and the average sales price ($622,221) rose 3.9 percent and 8 percent year-over-year respectively, while the average list price increased 16.5 percent to $770,133. This brought the original list price to sales price measure to 97.1 percent while days on market were slightly faster than last year and showed homes averaging 43 days on market compared to 46 days on market in April 2023.

Haywood County home sales declined in April falling 11.8 percent year-over-year as 75 homes sold compared to 85 that sold in April 2023.  Pending sales also moved lower, falling 8.2 percent to 89 homes under contract compared to 97 in under contract status last April.  New listings also declined 13.9 percent year-over-year as sellers listed 99 homes for sale compared to 115 newly listed in April 2023. Inventory continued to improve by 11. 7 percent year-over-year to 230 homes for sale, while supply increased 22.7 percent to 2.7 months of supply.  Prices continued to increase.  Both the median sales price ($365,000) and the average sales price ($413,329) increased 12.3 percent and 14.1 percent year-over-year respectively, while the average list price increased 5.8 percent to $494,044. This brought the original list price to sales price measure down a bit to 93.5 percent while days on market dropped 7 percent and showed homes averaging 40 days on market compared to 43 days on market until sale in April 2023.

Henderson County home sales declined in April by 9.6 percent to 132 homes sold versus 146 sold in April 2023. Pending contracts were nearly unchanged, down 1.7 percent as 173 homes went under contract during the month compared to 176 a year ago. New listings climbed 42.9 percent to 273 new listings versus 191 that sellers listed last April. Inventory and supply increased by 59.6 percent and 55.6 percent year-over-year respectively to 426 homes for sale or 2.8 months of supply. With demand somewhat steady, prices increased.  Both the median sales price ($455,277) and the average sales price ($592,220) increased in April by 9.2 percent and 22.9 percent year-over-year, while the average list price increased 4.3 percent to $578,639.  This brought the original list price to sales price measure to 96.8 percent while days on market showed time on market increased to 44 days on market in April compared to 35 days on market during the same period last year.  

Madison County home sales were unchanged compared to last April with 26 homes sold during the month, while contract activity declined 20.7 percent as 23 homes went under contract compared to 29 under contract in April 2023.  New listing activity also fell by 29.4 percent year-over-year as sellers listed 24 homes for sale compared to 34 homes for sale in April 2023. Both inventory and supply rose by 20.6 percent and 18.5 percent year-over-year to 76 homes for sale and 3.2 months of supply. Prices rose due to the small number of homes in inventory. The median sale price (4420,995) and the average sales price ($440,095) rose by 21.3 percent and 10.4 percent year-over-year respectively while the average list price increased 0.8 percent to $543,078.  This brought the original list price to sales price measure to 93.8 percent while days on market in Madison showed homes averaged 75 days on market until sale compared to 72 days on market during the same period last year.

Other counties around the region  See data for April 2024

Burke County once again experienced increases in most metrics. The only decreases were found in the percent of original list price received with a slight 0.6 percent dip to 95.4 percent and average list price with a 3.4 percent decline to $355,283. There was a substantial 84.9 percent increase in inventory level, with 172 properties available, equivalent to a 2.7 months supply, a 92.9 percent increase from 2023. Pending contract activity rose 2.5 percent with 81 homes under contract during April. New listings jumped 55.1 percent as sellers brought 107 homes to market compared to 69 in April 2023. Days on market was flat last month with 30 days until sale. The median sales price experienced an increase of 24.9 percent from the previous year to $278,000. Additionally, the average sales rose by 31.9 percent to $368,300.

Jackson County had a 68.8 percent increase in sales with 27 homes sold during the months compared to 16 sold in April 2023. Pending contracts declined 4 percent year-over-year to 24 homes under contract compared to 25 a year ago.  New listings rose 5.9 percent year-over-year as 36 homes were brought to the market, two more than last April. Inventory and supply increased by 31.3 percent and 29.4 percent year-over-year respectively, to 88 homes for sale or 4.4 months of supply.  Prices were mixed. The median sales price increased 17.4 percent year-over-year to $375,000 while the average sales price declined by 38.5 percent to $395,169. The average list price increased 13.5 percent year-over-year to $787,775 bringing the original list price to sales price measure to 97 percent while days on market increased and averaged 60 days on market until sale compared to 58 days on market in April 2023.

McDowell County showed improvement across all metrics with home sales rising 26.7 percent year-over-year as 38 homes sold compared to 30 that sold in April 2023.  Pending contracts also rose by 20.7 percent as 35 homes went under contract versus 29 the previous April. New listings jumped 26.3 percent as sellers listed 48 homes for sale compared to 38 newly listed in April 2023.  Inventory at report time rose 62.3 percent to 112 homes for sale or 3.3 months of supply.  Last April supply was at two months.  Prices rose modestly.  The median sales price ($283,000) and the average sales price ($357,712) increased by 5.8 percent and 5 percent respectively, while the average list price increased 31.4 percent to $486,346. This brought the original list price to sales price measure to 91.5 percent while days on market showed homes averaged 67 days on market until sale compared to 43 days on market in April 2023. 

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

Mitchell County had nine homes sold during the month compared to 12 that were sold a year ago in April.  Seventeen homes went under contract during the month, compared to 20 in April 2023.  New listings declined by 4.5 percent year-over-year as 21 homes were newly listed during the month compared to 22 in April 2023. Inventory at report time in April showed an increase of 12.5 percent to 54 homes for sale or five months of supply at the current sales pace. Prices were mixed. The median sales price declined 2.9 percent year-over-year to $250,000 while the average sales price increased 44.5 percent to $403,556. The average list price dipped 3.1 percent to $431,472 bringing the original list price to sales price measure to 90.3 percent. Time on market increased by 28.6 percent showing, the pace of sales slowing and homes averaging 90 days on market until sale compared to 70 days on market in April 2023. 

(Due to smaller sample sizes in counties where there is a smaller pool of listings, percentage increases or decreases may seem extreme)
Polk County home sales increased 21.1 percent year-over-year as 23 homes sold compared to 19 that sold in April 2023. Contract activity increased substantially (118.5%) as 35 homes went into under-contract status compared to 16 the previous year. New listings increased by 36.7 percent compared to last year as sellers brought 41 new listings to market compared to 30 the previous April. Inventory at report time showed 89 homes for sale, up 27.1 percent compared to last April, and represents 3.7 months of supply. The median sales price ($365,000) declined 6.4 percent year-over-year while the average sales price ($461,897) increased 7.3 percent compared to last year.  The average list price for the month increased 22.4 percent to $802,379 bringing the original list price to sales price measure to 93.9 percent while days on market dropped 25.8 percent to 46 days on market.

Rutherford County home sales declined 5.1 percent year-over-year as 56 homes sold in April compared to 59 that sold during April 2023.  Contract activity increased 26.2 percent as buyers drove 82 homes under contract compared to 65 a year ago.  New listings rose substantially as sellers brought 128 new listings to market, a significant boost to inventory during the month. Inventory rose at report time 59.2 percent to 226 homes for sale or 3.6 months of supply. Supply is up 71.4 percent compared to April 2023, when there was only 2.1 months.  Prices held steady.  The median sales price was relatively unchanged, down 0.9 percent to $262,500, while the average sales price inched up 3.9 percent to $346,680 compared to last year.  The average list price increased 21.9 percent to $50,128 bringing the original list price to sales price measure to 93.3 percent.  Days on market in April showed homes averaged 67 days on market until close compared to 40 days on market in April 2023.     

Transylvania County home sales increased for a fourth consecutive month in April as 55 homes sold compared to 37 that sold in April 2023.  Pending sales or contracts showed buyers drove 45 homes into under-contract status during the month, representing a year-over-year increase of 9.8 percent. Sellers continued to respond positively to the market, by offering 70 new listings during the month, an increase of 4.5 percent over last year when 67 new listings were offered.  Inventory increased 29.4 percent to 141 homes for sale at report time or 3.2 months of supply.  Supply increased 33.3 percent compared to last year to 3.2 months compared to 2.4 months in April 2023. Still, due to rising demand, the median sales price increased nearly 35.8 percent to $550,000 and the average sales price rose 24.1 percent to $705,168.  The average list price increased 16.5 percent to $933,538 bringing the original list price to sales price measure to 93.8 percent. Days on market showed homes taking a bit longer to sell, averaging 58 days on market in April 2024 compared to 48 days on market in April 2023.

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

Yancey County had 18 home sales in April a 100 percent year-over-year increase, while contract activity increased 10 percent as 22 homes went under contract. New listings increased 76.2 percent as sellers brought 37 new listings to market during the month, boosting inventory by 12.3 percent to 73 homes for sale at report time. Months of supply rose 21.9 percent year-over-year to 3.9 months of supply.  The median sales price increased 10.6 percent year-over-year to $365,000 while the average sales price jumped by 69.7 percent to $618,414. The average list price rose 54.1 percent to $777,528 compared to April 2023, bringing the original list price to sales price to 93.9 percent. Days on market showed homes averaged 79 days on market until sale compared to 119 days on market in April 2023.

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.