Buncombe County Real Estate Market Update – July 2025

Buncombe County’s housing market is showing signs of shifting this summer, with inventory climbing, prices still inching upward, and homes taking longer to sell. Here’s a breakdown of the latest trends from the Canopy Realtor® Association’s July 2025 report.

📈 More Homes Hitting the Market
New listings surged to 499 in July, a 25.7% jump compared to last year. Year-to-date, listings are up 23.3%, meaning buyers have significantly more options than they did in 2024. This growth in inventory is also reflected in the months’ supply, which doubled from 3.1 to 6.4—marking the shift toward a more balanced market.

🏡 Sales Activity: Mixed Signals
Pending sales rose 10.2% in July compared to last year, but year-to-date pending contracts are actually down 5.5%. Closed sales also saw a healthy 9.6% year-over-year increase for July, yet overall 2025 closings remain 7.2% lower than the same period in 2024.

💲 Prices Still Rising, But Growth Slowing
The median sales price climbed 7.5% year-over-year in July to $515,000, while the year-to-date median is up 4.2%. However, the average sales price dipped slightly (-0.8% in July, -1.4% year-to-date), signaling that while demand remains steady for well-priced homes, buyers are negotiating more aggressively.

⏳ Homes Taking Longer to Sell
The average days on market until sale jumped nearly 30% from last year, now sitting at 48 days for July. Cumulative days on market rose even higher—up 41% to 55 days—showing that sellers may need to be patient and strategic in pricing.

💡 What This Means for Buyers & Sellers

  • For buyers: With inventory up over 80% compared to last year, you have more choices and more negotiating power than we’ve seen in years.

  • For sellers: Homes are still selling, but pricing right is critical. Overpricing can lead to longer market times and more concessions at the closing table.

 

Overall, Buncombe County is moving toward a more balanced real estate market, giving both buyers and sellers opportunities—but also requiring realistic expectations on both sides.