Summer 2018 Real Estate Report

We’re now in the full swing of summer and the Asheville and Buncombe County markets continue to be challenged by limited inventory. New listings and number of sales are down, which is pushing prices higher. We don’t foresee the limited inventory being alleviated any time soon as interest rates and prices continue to climb. Properties that are well-priced in sought-after neighborhoods are experiencing multiple offer situations and are under contract within hours in some cases. The key here is pricing. Buyers don’t want to pay top dollar and won’t make offers on overpriced homes. Therefore, it’s critical to find the sweet spot so that a property won’t sit on the market and become stigmatized. Having a good Broker who understands the market has never been more important for buyers and sellers. Real estate is highly local, especially so in Asheville, which is unique in its own ways. For more insight into our markets or for buying and selling inquiries please don’t hesitate to reach out!

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