December 17, 2018
Contact: Kim Walker, 704-940-3149
CHARLOTTE, N.C. – The Carolina Multiple Listing Services, Inc. (CarolinaMLS) provides monthly reports on residential real estate market activity for the Asheville Metropolitan Statistical Area (MSA)*. The Asheville MSA includes Buncombe, Haywood, Henderson and Madison counties.
Asheville MSA year-over-year home sales in November 2018 declined 11.0 percent, with 575 properties sold compared to 646 properties sold in November 2017. Compared to the previous month (October 2018), November 2018 home sales decreased 13.7 percent. Year-to-date sales for the MSA were down 2.4 percent compared to the same period (January-November) in 2018.
The average sales price in November 2018 ($327,914) increased 1.2 percent compared to November 2017 ($324,125), while the median sales price ($271,500) increased 4.4 percent compared to November 2017 ($260,000). Compared to the previous month (October 2018), the average sales price increased 0.7 percent, while the median sales price rose 0.8 percent.
The average list price across the MSA ($347,212) decreased 0.4 percent compared to the average list price in November 2017 ($348,741), bringing the percent of original list price received measure to 93.7 percent, which is an decrease of 0.3 percent compared to the same period last year. Pending sales in November 2018 (589), which are a forward-looking indicator and a measure of buyer demand, increased 13.5 percent compared to November 2017. Compared to the previous month (October 2018), pending sales decreased 16.2 percent.
New residential listings (639) increased 9.8 percent in November 2018 compared to the same period last year. Compared to the previous month (October 2018), new listing counts declined 31.5 percent. Inventory fell slightly and was down 1.4 percent compared to November 2017, which left the Asheville MSA with 2,862 properties for sale at report time, or 4.6 months of supply of inventory. A year ago in November 2017 the MSA had 2,904 properties for sale, or 4.7 months of supply.
Homes continue to sell quickly across the MSA. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 115 days in November 2018 compared to 111 days in November 2017. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 67 days, which is five days more than in November 2017.
Other counties within the region with significant activity:
In Henderson County, November sales declined 27.9 percent compared to sales a year ago. While the average sales price ($298,217) decreased slightly (0.2 percent) compared to the previous year, the median sales price ($269,950) increased 5.9 percent year-over-year. Pending sales, however, rose significantly and increased 39.1 percent compared to the previous year. Inventory increased 8.2 percent, leaving the county with 3.8 months of supply. Properties continue to move quickly, with Days on Market at 68 days compared to 58 days in November 2017.
Haywood County had a 2.0 percent decrease in home sales compared to November 2017. The average sales price ($272,161) rose 10.0 percent compared to the average sales price last year ($247,498), while the median sales price ($218,750) increased 4.9 percent compared to the median price in November 2017. Pending sales also increased significantly in Haywood and rose 22.5 percent compared to the previous year, while inventory declined 10.4 percent, which leaves the county with 5.5 months of supply at the current sales pace. Properties are averaging 69 days on market compared to 74 days on market in November 2017.
*MSA or metropolitan statistical area consists of one or more counties that contain a city of 50,000 or more inhabitants or contain a Census Bureau-defined urban area and have a total population of at least 100,000 (75,000 in New England).
For more residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.” For an interview with an Asheville-area Realtor®/Broker, please contact Kim Walker.
The Carolina Multiple Listing Services, Inc. (CarolinaMLS) is a wholly-owned subsidiary corporation of the Charlotte Regional Realtor® Association and is the private cooperative Realtors® use to access thousands of residential listings in a multicounty service area, including Charlotte, the Piedmont and Mountains areas of North Carolina and South Carolina, and beyond. CarolinaMLS, which has more than 16,000 Subscribers, provides the most trustworthy, timely, accurate and complete property data to support consumers in their residential real estate transactions.
Original Publish Date: 12/17/2018