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.

According to Realtor.com's recent analysis, the optimal time to list your home in 2025 is the week of April 13–19. This period is projected to offer a favorable combination of higher home prices, increased buyer demand, and reduced competition among sellers.

Key Advantages of Listing During This Week:

• Higher Sales Prices: Homes listed during this week have historically achieved prices approximately 1.1% higher than the average week throughout the year, translating to about $4,800 more.

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• Faster Sales: Properties tend to sell nine days faster on average when listed during this optimal window.

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• Reduced Competition: Sellers face approximately 13.2% less competition from other listings during this period, increasing the likelihood of attracting serious buyers.

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These insights are based on seasonal trends from 2018 to 2024 (excluding 2020), considering factors such as listing prices, market pace, and buyer demand.

To capitalize on these favorable conditions, homeowners planning to sell should begin preparations now to ensure their property is market-ready by mid-April.

Just because your patio is small doesn’t mean it has to feel cramped or uninspired. With thoughtful planning and creative design, even the tiniest outdoor spaces can become inviting retreats for relaxation, dining, and entertaining. Here are some practical tips to help you make the most of your small patio and transform it into a functional and beautiful outdoor haven.

1. Choose Multi-Functional Furniture

When space is limited, every piece of furniture should serve multiple purposes. Consider options like benches with hidden storage, folding tables and chairs, or an ottoman that doubles as extra seating and a coffee table. Stackable and foldable furniture is also a great way to create more flexibility in your space.

2. Go Vertical

Utilizing vertical space is key in small outdoor areas. Install wall planters, hanging shelves, or trellises to add greenery without sacrificing floor space. Hanging string lights or lanterns can also draw the eye upward, making the space feel larger and more open.

3. Opt for Space-Saving Greenery

Potted plants, vertical gardens, and small raised beds can bring life to your patio without overwhelming it. Consider using tiered plant stands or hanging planters to maximize greenery while keeping the floor area clear.

4. Define the Space with a Rug

An outdoor rug can instantly create the illusion of a larger, more defined space while adding warmth and color. Choose a weather-resistant rug in a bright or neutral shade to complement your overall design.

5. Incorporate Smart Storage

Clutter can make a small patio feel even smaller. Invest in storage solutions such as built-in seating with compartments, hanging baskets, or slim shelving units. A well-organized patio feels more spacious and inviting.

6. Create an Illusion of Space with Mirrors

A well-placed mirror can reflect light and make a small patio appear larger. Consider using a weather-resistant mirror on a wall or fence to open up the space visually.

7. Use Light and Neutral Colors

Lighter hues can make a space feel more open and airy. Opt for soft neutrals or pastels in your furniture, decor, and textiles to create a fresh and inviting atmosphere.

8. Add Cozy Ambiance with Lighting

Good lighting can turn your small patio into a magical retreat. String lights, solar lanterns, and LED candles provide a warm, inviting glow without taking up precious space.

9. Think About Layout

Arrange furniture in a way that maximizes movement and function. A corner seating arrangement can create a cozy nook, while a round table can fit more guests without feeling crowded.

10. Personalize Your Space

Adding personal touches, such as colorful throw pillows, an outdoor art piece, or a small water feature, can make your patio feel like an extension of your home. Keep it simple yet stylish to reflect your personality.

Even the smallest patio can become a cherished outdoor retreat with a little creativity and thoughtful design. By incorporating these tips, you’ll be able to enjoy your cozy oasis season after season!

Asheville, North Carolina, is renowned for its vibrant culinary scene, and there's no better time to experience it than during Asheville Restaurant Week. This year, the event returns for a second session from February 18 through February 24, 2025, offering food enthusiasts an opportunity to explore a diverse array of local flavors.

What to Expect

Organized by the Asheville Area Chamber of Commerce, Asheville Restaurant Week celebrates the city's rich gastronomic offerings. Participating restaurants provide special menus and pricing, allowing diners to sample signature dishes and exclusive creations crafted for the event. Whether you're a fan of traditional Southern fare, international cuisine, or innovative fusion dishes, there's something to satisfy every palate.

Participating Restaurants

A wide range of establishments are participating in this year's event. Here are some notable mentions:

• Bargello: Known for its Mediterranean-inspired dishes, Bargello offers a delightful dining experience in the heart of Asheville.

• Chai Pani: This eatery brings the flavors of Indian street food to Asheville, offering a unique and vibrant menu.

• Cúrate: A Spanish tapas bar that has garnered national acclaim, Cúrate presents an authentic taste of Spain.

• The Market Place: Focusing on farm-to-table cuisine, The Market Place highlights local ingredients in its creative dishes.

• Posana: This contemporary American restaurant is known for its commitment to locally sourced and gluten-free offerings.

For a complete list of participating restaurants and their special menus, visit the official Asheville Restaurant Week page.

Special Highlights

Some restaurants have crafted exclusive menus for the event. For instance, Cúrate offers a dinner menu featuring tapas to share at $48 per person, including dishes like gambas al ajillo (sautéed shrimp in sherry broth) and tarta de queso (Basque-style cheesecake). Posana presents a three-course meal priced at $50 per person, showcasing their culinary creativity. These special offerings provide a unique opportunity to experience the best of Asheville's dining scene at exceptional value.

Tips for Diners

• Reservations: Given the popularity of Asheville Restaurant Week, it's advisable to make reservations in advance to secure your preferred dining times.

• Explore New Cuisines: With a plethora of restaurants participating, consider stepping out of your comfort zone to try new flavors and culinary styles.

• Support Local Businesses: This event is an excellent opportunity to support local establishments, especially as the city continues to recover from recent challenges.

Asheville Restaurant Week is more than just a dining event; it's a celebration of the city's resilience, creativity, and community spirit. Whether you're a local resident or a visitor, this week promises a culinary adventure that reflects the heart and soul of Asheville.

Check out all the restaurants and their menu's Here

The Buncombe County housing market is experiencing notable shifts as we enter 2025. With an increase in new listings, higher home prices, and longer days on the market, buyers and sellers alike are adjusting to changing conditions.

Market Insights:

• Increased Inventory & New Listings – More homes are hitting the market, giving buyers additional options. The 19.7% rise in new listings and a 21% increase in active inventory suggest that sellers are eager to capitalize on rising prices.
• Price Growth Continues – The median sales price has jumped 9.5% compared to last year, reflecting sustained demand despite higher mortgage rates.
• Longer Time to Sell – Homes are taking longer to sell, with days on market rising to 61 (+29.8%). This suggests that while demand remains strong, buyers may have more negotiating power.
• Slight Decline in Closed Sales – The number of closed sales dropped 4.6%, likely due to affordability challenges and extended selling timelines.

Local Perspective – Weaverville & Beyond

For Weaverville, a desirable small-town market within Buncombe County, these trends align with what local businesses and homebuyers are experiencing. As a member of the Active Weaverville Committee and someone deeply involved in local business growth, I’ve observed increased interest in our town’s walkability and quality of life. However, the longer time to close and rising prices could mean buyers are more selective.

For those considering selling, this is still a strong market, but pricing strategy and home presentation will be critical. Buyers should take advantage of the increased inventory while understanding that home values are continuing to rise.

If you're interested in how these market trends impact Weaverville directly, let’s discuss strategies tailored to your needs!

When receiving a monetary gift for a down payment on a home, it's essential to understand the tax implications and documentation requirements involved.

Tax Implications for the Donor:

• Annual Gift Tax Exclusion: As of 2024, an individual can gift up to $18,000 per recipient without incurring gift tax liability. For married couples, this exclusion doubles to $36,000 per recipient.

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• Lifetime Gift and Estate Tax Exemption: Gifts exceeding the annual exclusion count against the donor's lifetime exemption, which is $13.61 million per individual in 2024. While gifts above the annual limit must be reported to the IRS using Form 709, the donor typically doesn't owe taxes unless their total lifetime gifts surpass this exemption.

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Documentation Requirements for the Recipient:

• Gift Letter: Lenders require a gift letter from the donor, specifying the gift amount, donor's contact information, relationship to the recipient, and a statement confirming that repayment isn't expected.

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• Proof of Funds Transfer: Recipients must provide evidence of the fund transfer, such as the donor's bank statement showing the withdrawal and the recipient's bank statement showing the deposit.

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Additional Considerations:

• Eligible Donors: Acceptable sources for down payment gifts vary by loan type but generally include family members and, in some cases, close friends or employers.

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• Loan Type Restrictions: Different mortgage types have specific rules regarding down payment gifts. For instance, conventional loans may have stricter donor eligibility criteria compared to FHA loans.

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By adhering to these guidelines, both donors and recipients can ensure compliance with tax laws and lender requirements, facilitating a smoother home purchasing process.

Read the article HERE

Why 2024 Was a Challenging Year for Real Estate

The real estate market in 2024 was marked by struggles for both buyers and sellers, making it one of the toughest years in recent memory. Here's why:

Rising Interest Rates

The Federal Reserve's ongoing battle against inflation led to historically high interest rates. Mortgage rates hovered around levels not seen in decades, pricing many buyers out of the market. For those who could afford to purchase, monthly payments skyrocketed, diminishing affordability even further.

Low Inventory

Sellers were hesitant to list their homes, as many were locked into low-interest mortgages from previous years. This reluctance created a severe inventory shortage, leading to fierce competition for the few homes available and driving prices higher in some areas despite declining demand overall.

Stagnant Prices in Some Areas

While some regions saw marginal price increases due to limited supply, others experienced a plateau or slight decline in home values. Sellers who hoped to cash in on the pandemic-era boom found themselves unable to secure the profits they had envisioned.

Economic Uncertainty

Widespread economic uncertainty added another layer of complexity. Layoffs in certain industries and rising consumer costs forced potential buyers to delay homeownership plans, while sellers faced challenges securing new properties.

Struggles for First-Time Buyers

First-time homebuyers were particularly hard-hit. With limited inventory, high prices, and elevated borrowing costs, many were pushed out of the market altogether. This demographic, which often fuels the housing market, saw homeownership dreams slip further away.

In summary, 2024 was a year when the real estate market worked against both buyers and sellers. High borrowing costs, low inventory, and economic unease created a perfect storm of challenges. For many, it was a year to wait and hope for a more favorable future.

You can read more HERE

🏡 Buncombe County Real Estate Market Update - December 2024 🏡

As we step into 2025, let's reflect on the latest real estate trends in Buncombe County! 📊 Here's how the market shaped up in December 2024 compared to the same time in 2023:

Key Highlights:

✅ New Listings: Up by an impressive 22.9%, with 220 homes hitting the market (compared to 179 in December 2023).
✅ Median Sales Price: Increased by 5.6%, reaching $475,000, indicating steady growth in home values.
✅ Months Supply of Inventory: Increased to 3.0 months (+20.0%), providing more options for buyers.
✅ Pending Sales: Up 8.3%, with 221 homes under contract.

Some Challenges:

🔻 Closed Sales: Decreased by 8.7%, with 242 homes sold, suggesting slightly slower buyer activity.
🔻 Days on Market: Homes are taking 39.5% longer to sell, with an average of 60 days compared to 43 last year.

Year-to-Date Trends:

For 2024, the median sales price rose to $479,900 (+2.1% YTD), while the average sales price climbed to $716,759 (+9.0% YTD). However, total closed sales for the year saw an 11.2% decline, likely due to market adjustments.

As we step into the new year, it’s the perfect time to set fresh intentions. Alongside goals like eating healthier or organizing your home, why not dive into a new hobby that connects you to the vibrant local culture of Asheville and Weaverville?

Our area is rich in opportunities to explore creative, outdoor, and social pursuits. By picking up a hobby, you’re not only growing personally but also supporting the wonderful community we call home.

Local Hobby Ideas to Kickstart Your Year

1. Get Crafty

   • Asheville and Weaverville are home to countless artisans. Try your hand at pottery with classes at the Asheville Art Museum or join a weaving workshop at Local Cloth, a fiber arts community.
   • For painting or drawing enthusiasts, check out the Artisans on Main gallery in Weaverville for inspiration or workshops.

2. Embrace the Outdoors

   • Nestled in the Blue Ridge Mountains, our region is a haven for nature lovers. Consider joining a hiking group, like the Carolina Mountain Club, to explore scenic trails like Craggy Gardens or the Rattlesnake Lodge loop.
   • If you’re looking for something new, why not try fly fishing on the French Broad River or birdwatching at the Beaver Lake Bird Sanctuary?

3. Culinary Adventures

   • With a growing farm-to-table culture, now’s the time to master your cooking or baking skills. Take a class at Asheville Mountain Kitchen or visit the Weaverville Tailgate Market to source fresh, local ingredients for your experiments.

4. Music and Dance

   • Always wanted to play an instrument? The Asheville Music School offers lessons for all skill levels.
   • If dancing is more your speed, check out a contra dance event at the Grey Eagle Music Hall or take lessons in swing, salsa, or even clogging—a nod to Appalachian traditions.

5. Volunteering and Community Engagement

   • Strengthen your community ties while making a difference. Join a group like the Active Weaverville Committee or volunteer with local organizations like Food Connection Asheville or MANNA FoodBank.

Why Local Hobbies Matter

Exploring a hobby rooted in your community allows you to connect with others, support small businesses, and discover hidden gems you may have overlooked. Plus, it’s a chance to slow down and appreciate the unique culture and natural beauty of Asheville and Weaverville.

This year, make it your resolution to explore the hobbies that enrich our local area. Whether you're crafting, cooking, hiking, or dancing, 2025 can be the year you embrace something new and find a deeper connection to yourself and your community.

What local hobby will you try this year? AVLToday put out a great article with tons more local activities and hobbies to get into this New Year!

If the dream of owning a single-family home feels out of reach, you’re not alone—and there’s a silver lining: renters are saving an average of over $1,000 a month compared to homeowners.

In the nation’s top 20 single-family rental markets, it remains more affordable to rent than to own when you factor in monthly mortgage payments and maintenance costs for a comparable starter home.

A recent report from John Burns Research & Consulting reveals that purchasing a starter single-family home now costs an average of $1,091 more per month than renting a similar property. Including other property types, the savings for renters narrow slightly to $1,067, according to Realtor.com®’s economic research team.

“No surprise here, it’s still more expensive monthly to buy a single-family home than it is to rent one,” says Danielle Nguyen, vice president of research at John Burns.

Although the gap between renting and buying has shrunk slightly compared to last year, it remains far above the historical national average of $233. The last time owning was cheaper than renting was back in 2016. It almost happened during the early days of the COVID-19 pandemic but fell just short.

For now, those renting in these markets can take comfort in the financial cushion—and maybe invest those savings elsewhere.

Click HERE for full article