Asheville Real Estate Market Sees Increase in Activity in April

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Asheville MSA year-over-year home sales in April 2019 increased 1.9 percent, with 600 properties sold compared to 589 properties sold in April 2018. Compared to March 2019, closed sales increased 7.3 percent.

The average sales price in April 2019 ($324,703) increased 1.8 percent compared to April 2018 ($318,910), while the median sales price ($276,750) increased 1.0 percent compared to April 2018 ($274,000). Compared to prices in March, both the average and median sales price declined 1.9 percent and 0.6 percent respectively.

The average list price across the MSA in April 2019 ($428,017) increased 15.7 percent compared to the average list price in April 2018 ($369,891), while the percent of original list price to sales price was 94.7 percent. Pending sales, which indicate buyer demand, rose 20.7 percent when compared to April 2018 and are up 2.6 percent compared to March 2019.

Brian Cagle, a Realtor®/broker with Beverly Hanks & Associates and a CarolinaMLS Board of Directors member representing the greater Asheville market said, “Home sales activity across the Asheville region is steady and roughly on the same level as last spring. We are still experiencing a tight market, with fewer homes available to keep up with strong buyer demand over the past couple months. However, the significant new listing activity shows sellers in our market are gaining confidence. This should give buyers more options as the selling season really gets underway.”

New residential listings in April 2019 rose 17.8 percent compared to April 2018 and increased 13.6 percent compared to listing activity in March 2019. Inventory for the MSA declined 3.3 percent to 2,571 homes for sale at report time, leaving the MSA with 4.1 months of home supply. Months of supply are down 4.7 percent compared to the same period last year.

Homes continue to sell quickly across the Asheville MSA. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 116 days in April 2019 compared to 118 days in April 2018. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 71 days in April 2019 and is unchanged when compared to April 2018.

Other counties within the region with significant activity:

In Henderson County, year-over-year sales declined 6.4 percent in April 2019, with 160 properties sold compared to 171 sold in April of last year. The average sales price of $298,635 decreased 1.6 percent, while the median sales price (281,250) rose 6.1 percent compared to April 2018.

Pending sales in Henderson County rose 1.9 percent in April 2019 compared to last year, but they are down 5.2 percent compared to pending sales counts in March 2019. New listings increased 21.3 percent in Henderson County compared to last April and increased 6.2 percent compared to listing activity in March 2019. As a result, inventory in April 2019 increased 1.9 percent compared to a year ago, leaving the county with 3.6 months of supply of homes for sale. Properties in Henderson County averaged 73 days on market in April 2019, which was an increase from April 2018 when the pace of sales was much faster and averaged 55 days.

Haywood County’s closed sales in April 2019 increased 28.2 percent compared to sales in April 2018, while sales compared to March 2019 rose 31.6 percent. The median sales price ($225,000) rose 2.3 percent over last year’s median, while the average sales price ($265,268) spiked to 12.2 percent. Compared to March 2019, the median sales price rose 2.7 percent, while the average sales price increased 10.1 percent.

Pending sales in Haywood County increased significantly for a second month and were up 27.5 percent year-over-year in April 2019. When compared to March 2019, pending sales activity declined 15.3 percent. Meanwhile, inventory continued to decline and was down 20.4 percent compared to this time last year, leaving the county with 4.5 months of supply. Properties in Haywood County in April 2019 averaged 96 days on market compared to 111 days on market last April.

*MSA or metropolitan statistical area consists of one or more counties that contain a city of 50,000 or more inhabitants or contain a Census Bureau-defined urban area and have a total population of at least 100,000 (75,000 in New England).

For more residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.”