The Buncombe County housing market continues to evolve, showing both opportunities and challenges for buyers and sellers alike. February 2025’s data, provided by the Canopy Realtor® Association, reveals notable shifts in home prices, inventory, and sales activity.

Key Trends:

  • Home Prices on the Rise: The median sales price jumped 16.3% year-over-year to $500,000, reflecting strong demand and rising property values.

  • Fewer Homes Selling: Closed sales declined 18%, indicating a slower market despite more listings. Pending sales also dropped 11.3% compared to last year.

  • More Homes Available: Inventory saw a 31.6% increase, pushing the months' supply from 2.2 to 3.2—a significant 45.5% rise. This means buyers now have more options than they did a year ago.

  • Longer Time to Sell: The average days on market increased from 57 to 72 days (+26.3%), showing that homes are taking longer to sell despite higher prices.

What This Means for Buyers & Sellers:

For sellers, pricing competitively and preparing homes for market is more crucial than ever, as rising inventory gives buyers more choices.
For buyers, while home prices are up, the increased inventory and longer market times may provide more negotiation power.

 

As we move into spring, it will be interesting to see if increased supply balances out price growth. If you're considering buying or selling in Buncombe County, now is a great time to connect with a local real estate professional for expert guidance.