Asheville

Market Report for June 2017

Days on the market shrunk significantly from May to June, as is traditional in our market, with the change in average price continuing to show double digit growth over last year. Despite a large number of sales, more inventory has come to the market, as we predicted, giving us a slightly larger supply of homes than last month. The hottest market segment in Buncombe County has dropped $5o,ooo, though the median sales price is up slightly since last month.

So, what’s in store for the rest of the summer? We saw a slow down during the July 4th holiday weekend and predict the market will continue to cool off as the summer gets hotter and school starts back. This should mean slightly lower list to sales price as demand is slightly less, and months supply of homes and days on the market should continue ticking up incrementally, which will indicate a healthier and more steady rate of growth in the Asheville and Buncombe County markets.

Buncombe County Market Report

Market Report June 2017 - Buncombe County

Asheville City Market Report

Market Report June 2017 - Asheville

If you found this data helpful and would like a more detailed look into a specific neighborhood or zip code, contact one of our agents or call the office at (828) 232-4030. We are happy to provide you the information you need to Move Smarter.

Move Smarter TM

Tagged: , , , , , , , , , ,

Bookmark and Share

Tiny House, Big Idea

Hand to chin, Jennifer eyed the space where her silver SUV was parked.

“Could I build a tiny house right here?”

 

Last year, she fell in love with the house in Kenilworth and its view of the lake. After moving in she added an outdoor room — the perfect playroom for her two-year-old grandson.

Gazing from this room at the pines reflected in the water below, she smiled. “Blissful.”

But living here could be even better, she mused, if her daughter, son-in-law, and baby grandson were right next door.

 

She makes a good point.

 

Tiny House Asheville Kenilworth Lake

 

With scant rentals available, and costs prohibitive for many first-time homebuyers, a tiny house may be a smart option. Costs can be kept low, around $15,000, but quickly rise with the quality of materials used.  

Smaller homes are catching the imagination of many, including downsizing Boomers and Millenials just starting out.

Where did tiny houses start, and just how tiny are they?

 

Tiny House Floor Plan Example Asheville

 

‘Wee Houses’ began in 2003 as affordable alternative housing.

In North Carolina, a tiny house must be at least 120 square feet, but anything under 500 square feet is considered tiny. A typical storage shed is 100 square feet.

City of Asheville rules allow homeowners to build a small house next to the main one. However, zoning regulations, HOA bylaws, environmental, and other restrictions apply, so if you’re thinking about building a tiny home, do your homework and ask your real estate agent for more information.

Tiny houses can be site-built and made to be “grow-able,” to accommodate the homeowners’  changing needs.

 

For Jennifer, building a tiny house at the top of her driveway would mean a visit from her grandson could be only steps away, not a half-hour drive. And that could create a living arrangement to benefit the whole family.

 

Written by Suzanne Arthur, Broker, REALTOR, and Kenilworth neighbor. Connect with Suzanne at suzanne@dixonpacifica.com to see if a tiny house may be a good (and legal) choice for your property, and keep up with all of Asheville’s local happenings by following @suzannearthur_realtor on Instagram.

Tagged: , , , , , , , , , , ,

Bookmark and Share

Tubing the French Broad River

French Broad River tubing paddle boarding SUP - DixonPacifica

As recently as 10 years ago, you would have been hard pressed to find much recreational activity on the French Broad River in Asheville. City planning had not accounted for best and highest use of river front properties, leaving it less than scenic for river goers who may have wanted to canoe, paddle board, or tube.

Organizations such as River Link and River Keepers, as well as active community members, have worked hard to change that, and one of the results is hundreds of tubers enjoying a leisurely float down the river with the first signs of summer. Now, you can even stop along the way to grab some local beer or snack from a food truck.

There are many options for river “sports,” and I’ll use that term loosely as I’ll be focusing on tubing, which requires limited athletic ability or even energy. Rather, it’s a simple and relaxing way to enjoy a sunny day with family or friends.

Whether you choose a DIY option, go through an outfitter, or something in between, you’ll find you have many options.

There are multiple local outfitters offering a range or services from tube rental, shuttles, changing rooms and more. There are also numerous locations available for putting in and taking out your tube depending on how long you’d like to spend floating and where you’d like to end your trip.

Putting in at Hominy Creek and taking out at Amboy Road River Park typically lasts 2+ hours. For a longer float with a beer or food option, you’ll need to go a bit further to reach Wedge Brewing or The Bywater. Of course, the length of your float depends on the flow of the river at that time. For an accurate read on the current, visit American Whitewater and search for the French Broad. Don’t forget to check the water temperature while you’re there!

Some outfitters you may want to consider are French Broad Outfitters, Asheville Outdoor Center, and Zen Tubing. Prices range from $12 for a half day, walk, and tube to $20 which includes a shuttle and an extra raft for your cooler. For a thrifty but less convenient option, you can grab your own tube and either walk back to your starting point, grab a $5 shuttle, or leave a 2nd car at your final destination.

DixonPacifica - French Broad River - tubing

Some things you’ll want to have handy are river shoes, sun screen, a floating cooler with drinks (no glass), a sun visor or hat, a few bucks for beer or snacks, and towel and change of clothes at your stopping point. If you’re doing it on your own, don’t forget to account for your car key! I always bring a few ziplocks for keys and money and tuck them in a secure pocket.

However you choose to do it, just do it. There are few better ways to spend a hot summer day so get out and #movesmarter!

Written by Bethany Behrmann, Broker, REALTOR. Bethany had her first tubing adventure on the French Broad at age 10 and has logged dozens of trips since with family, friends, neighbors and countless exchange students. Whether you seek more recommendations for enjoying Asheville summers or information on riverfront property, Bethany can be reached by email at bethany@dixonpacifica.com.

 

Tagged: , , , , , , , , ,

Bookmark and Share

Market Report for May 2017

The hottest market segment continues to hold steady at $400-499k. This is due, in large part, to the significant (though less drastic than April) change in average price. Many potential sellers aren’t listing their $300-399k homes despite the increase in value because the homes in the $400-499k range have increased at the same percentage. As you can see, this short supply is also pushing down the months of inventory and days on the market quite significantly over last month and last year. We are regularly seeing homes go under contract on the first day with multiple offers over asking price. We expect similar buying conditions but a larger supply of homes next month as schools let out and summer moving season begins.

Buncombe County Market Report

Market Report May 2017

Asheville Market Report

Asheville Market Report May 2017

For more information about our local markets, feel free to reach out to our agents by email or call our office at (828) 232-3040. We aim to ensure you have all the information you need to Move SmarterTM and make the best buying and selling decisions.

Bookmark and Share

Market Report for April 2017

Buncombe County Market Report

Market Report April 2017

Asheville Market Report

Market Report April 20172

If you’d like additional information about this data or want a more in-depth look at a specific neighborhood, contact one of our agents or call us at (828) 232-3040. We’re always happy to equip you with the knowledge you need to make the best real estate decisions.

Bookmark and Share

Market Report for February 2017

The February numbers are in and much of what they have to say confirms our 2017 predictions. Median sales price is up significantly over last year and can be explained by the continued trend of low inventory.

Asheville Market Report

Asheville Real Estate Market Report February 2017

 

Buncombe County Market Report

Buncombe County Real Estate Market Report February 2017

To see what the numbers look like in your neighborhood, our agents are happy to provide a more in-depth analysis.

Bookmark and Share

Holly Martin Named Top 100 REALTOR

2016 Top 100 REALTORS logo
Holly smallerBroker Holly Martin earned a distinguished spot as one of Asheville’s Top 100 REALTORS of 2016. PlumDog Financial, an Asheville area mortgage lender, releases this designation annually based on transaction volume data from the Asheville Board of REALTORS’ Market Share Report. They praised Holly and the other top REALTORS for their “hard work and dedication to our community development” and for providing  home ownership and satisfaction to thousands of Asheville area residents.

Holly was also DixonPacifica Real Estate’s Top Producer and Sales Leader for 2016. Says DixonPacifica owner, Tad Dixon, “We are so proud of all that Holly has accomplished this year,” which includes nearly doubling her 2015 sales volume, “and we look forward to supporting her as she continues to grow her business.”

 

Tagged: , , ,

Bookmark and Share

Market Report for January 2017

January saw predictably steady market growth with a slight increase in average list to sales price as well as a slight decrease in months of inventory. However, there was a significant uptick this month in change in average price. This reflects the greater volume of homes sold in a higher price bracket than in previous months more so than individual home prices drastically increasing. We believe the trend of greater sales in higher price brackets will continue this year as more people move into the Asheville-Buncombe market from other markets.

Asheville City Market Report

Market January Asheville2

Buncombe County Market Report

Market January Buncombe

Our agents would be glad to give you more information about our market as a whole or your individual neighborhood or area of interest. Send an email or give as a call at (828) 232-4030 and we’re happy to give you more insight into current trends.

Tagged: , , , , , , , ,

Bookmark and Share

Market Report: 2016 Year in Review

Compared to last year, home prices in the NC Mountains MLS service area increased 9.1%. Buncombe County experienced a 10.2% increase and Asheville 13.7%. Buncombe County’s median price is currently $253,400 and Asheville’s is $270,000.

Median Price 2016
Buncombe County Median Price

The average person stays in their home for five years. If you purchased a $250,000 home in the Asheville area in 2011, the Federal Housing Finance Agency’s housing price calculator says your home would be worth $308,724 at the end of 2016, which is a gain of 23.5%.

Closed Sales Graph
Buncombe County Closed Sales

Closed sales increased 6% over the previous year. Buncombe County and Asheville accounted for a high percentage of sales increase in 2015, so while sales still increased they were lower as a percentage to other neighboring counties. Buncombe County experienced a 2.3% increase in sales during 2016.

Days on the Market Graph
Buncombe County Days on the Market

A good sign for our market is that sales may have been higher if not for the lack of inventory. We have plenty of buyers looking for homes, but they are struggling to find the right property. The availability of active listings was down year-over-year in 2016 by 1.6%. One thing we are watching carefully is if low home supply is a drag on the number of sales in 2017. Buncombe County and the city of Asheville have the lowest supply of inventory in the entire MLS. Currently Buncombe has 3.2 months supply and Asheville 2.6 compared to the WNC MLS average of 5.4 months. Four to five months is typically considered healthy.  The good news for sellers in this scenario is supply vs. demand will continue to push prices higher.

One word that’s almost vanished entirely from our real estate vocabulary is “distressed.” For the last few years distressed homes, foreclosures and short sales, were an everyday reality in our market. In 2016 the percentage of distressed sales fell 24.2% and made up only 1.4% of total sales.

Market Predictions Header

Looking towards the remainder of 2017, we believe several things will impact our community’s real estate. With the stock market hitting new highs, many investors could look for portfolio diversity in real estate. Since our market is a hot vacation destination, those dollars could find their way here. Experts believe Baby Boomers may take profits from the stock market and buy real estate they can rent and enjoy personally in their retirement. Boomers are expected to make up one-third of all buyers this year.

Another positive is our region’s economic strength. With Buncombe County’s unemployment rate the lowest in North Carolina and our tourism numbers consistently rising, our region’s economy should remain strong for the foreseeable future. Our economic fundamentals are strong so housing prices should remain stable even if geo-political situations arise or interest rate increases put pressure on the market.

All data sourced from North Carolina Mountains MLS (January 2017)

Bookmark and Share

What makes a home “green?”

A white paper cut out of a house sits on green grass.

A Brief History of Green Building

The green building trend began to take off as a reaction to the short-lived Oil Crisis of 1973-1974. Poor insulation and a lack of climate adaptation in buildings of this period meant homes were drafty and used fuel inefficiently. Meanwhile, fuel uncertainty caused prices to rise, however briefly, generating increased interest in both improved building techniques as well as wind and solar energy. The end of the Fuel Crisis restored low prices, decimating the alternative fuel industry. However, the over-insulated homes produced in the wake of the Crisis began showing troubling side effects by the 1980’s such as rotten wood inside walls, mold, sick building syndrome and fogged dual pane windows. As a result, building science took off so builders could make sense of and eventually prevent these issues while continuing to improve insulation and home efficiency.

Green Building Today

The original interest in green building has only grown, both as a reaction to the early 2000’s trend of large, inefficient homes and in light of growing environmental concerns. However, it’s the benefits of green building that have driven most of the industry’s growth and pushed even traditional builders to adapt some green building techniques.

Home Owner Benefits:

  • Lower Energy Bills: through energy efficient lighting, equipment, and appliances
  • Healthier and Comfortable Indoor Environment: consistent temperatures and reduced risks
  • Increased Market Value: higher resale value of a home
  • Financial Tax Incentives: state and federal tax credits for renewable energy and energy efficiency
  • Performance Report: third party verification quantifying the home’s overall energy score, annual energy cost savings, and pollution prevention
  • Reduced air pollution through energy efficiency

Most of the “green” certified homes in Asheville use the Green Built NC certification, which is a third party verified program. The home is tested and then scored on a check list.

Green Built NC

Green Built NC Homes is a statewide program in North Carolina that provides a certificate for builders who meet “green home” guidelines. These guidelines emphasize comfort, health, energy and water conservation, site preservation, and renewable energy use. This certification includes either ENERGY STAR certification, or a HERS Index of 85 or less and showing that the house is 15% better than the 2009 International Energy Code, plus inspection of additional items specific to the Green Built NC program.

    The Green Built NC program encompasses all aspects of environmental design and construction including:

  • Site and Landscape: healthy outdoors by using erosion control and saving existing trees
  • Water Efficiency: lower water bills by using high efficiency irrigation and plumbing fixtures
  • Building Envelope: lower utility bills by using high efficiency windows and insulation
  • Heating and Cooling Systems: higher comfort with efficiency equipment and sealed air ducts
  • Appliances and Lighting: lower utility bills by using Energy Star appliances and lighting
  • Indoor Air Quality: a healthy interior with non-toxic finishes and minimizing moisture
  • Materials: a low maintenance home using durable, local, and recycled content materials
  • Third Party Verification: reassures the home owners that your homes are reviewed by an independent team of high performance building professionals.

 
Energy Star
EPA’s ENERGY STAR Program was created to help identify the best ways to save energy. The little blue label says this product, this home, this building or factory is doing the right things to save energy. Energystar.gov offers the most comprehensive resource available for energy efficiency advice and information. ENERGY STAR certified homes are independently verified to meet strict guidelines for energy efficiency set by the U.S. Environmental Protection Agency. These homes save money on utility bills, provide a more comfortable living environment with better indoor air quality, and help protect the environment.

    Typical features to look for in ENERGY STAR certified homes include:

  • Efficient Walls and Windows, the levels of wall, floor and attic insulation properly installed designed to block drafts, and high-performance windows;
  • Efficient Air Ducts, so rooms get enough air to have consistent, comfortable temperatures throughout the house;
  • Efficient Equipment for heating, and cooling the house, helping you save money while staying comfortable;
  • Efficient Lighting and Appliances, including ENERGY STAR certified dishwashers, refrigerators, light bulbs and clothes washers.

Better energy efficiency and performance means lower utility and maintenance costs. Homes earning the ENERGY STAR label use 15-30% less energy than typical cow homes, and even more when compared to most resale homes on the market today.

    Based on national averages, ENERGY STAR certified homes built in 2015 are the equivalent of:

  • Reducing CO2 emissions by 141,952 metric tons
  • Growing 3,607,528 tree seedlings for 10 years
  • Avoiding the consumption of 330,131 barrels of oil
  • Removing 29,867 passenger vehicles from the road

 
HERS Score
The Home Efficiency Rating System (HERS) is the industry standard by which a home’s energy efficiency is measured relative to other buildings. It’s also the nationally recognized system for inspecting and calculating a home’s energy performance, similar to the Miles Per Gallon (MPG) rating for cars. The lower the HERS rating the more efficient the house. To calculate a HERS score, the variables under consideration include all exterior walls, flooring, ceilings and roof, foundation, windows, doors, vents and ductwork, HVAC systems, water heating systems, etc.

The current International Energy Efficiency Code (IECC) is a HERS score of 100. What does all of this mean to you? A low HERS rating can mean high resale value, lower utility bills, better air quality and lower environmental impact.

For more on HERS Scores and their meaning: http://www.resnet.us/hers-index-score-card

Written by LeAnn Bound, Broker, REALTOR. LeAnn and her husband James founded GreenCraft, a locally owned and operated green building company that focuses on energy efficient design and environmentally sound building practices. LeAnn uses her first hand knowledge of green building to assist buyers, sellers, and new home buyers.

Tagged: , , , , , , ,

Bookmark and Share

QUICK LINKS

SEARCH PROPERTIES

Location

CITY

Property

BEDS

BATHS

SQ. FT.

PRICE

-
Search for Properties