Jan. 6, 2022

Contact: Kim Walker, 704-940-3149

CHARLOTTE, N.C. – Home sales across the Asheville region in November were mostly on par with activity around this time last year, though sales slipped 0.2 percent year-over-year as 1,230 homes sold, just three less than what sold in November 2020. Sales compared to October 2021 show that buyer activity has been consistent, down just 1.2 percent month-over-month, as buyers continue to take advantage of the low mortgage rate environment. These are completed transactions, according to Canopy MLS that include single family and condo/townhome data only.

Pending sales counts which showed 1,210 homes under contract during the month, rose 12.8 percent year-over-year while sellers listed 1,018 homes during the month, which is down 3.3 percent compared to new listings offered during November 2020. Sales activity for the year has been strong and positive, which means that 2021 could also be another banner year of sales.

Brian Cagle, a Canopy MLS Board of Directors member and Vice President-Managing Broker of Beverly Hanks Realtors® Waynesville said, “Despite affordability and inventory challenges, our region remains extremely attractive, to buyers moving within the region as well as to newcomers looking at the second-home market. Further, with rents outpacing mortgages and interest rates predicted to rise, prospective buyers are also looking at the pros of fixed mortgage payments, which makes homeownership a wise investment.” 

Inventory across the region remains low and is down 40 percent year-over year, with 1,719 homes for sale at report time or 1.4 months of supply. This time last year the region had 2.6 months of supply. 

Both the median sales price ($350,000) and the average sales price ($442,080) rose 11.6 percent and 18.1 percent year-over-year respectively, while the average list price rose 22.3 percent year-over-year to $475,299.  This brought the original list price to sales price ratio to 97.2 percent in November. Days on market until sale show how fast the market is moving, as homes averaged 30 days on market until sale in November 2021. This time last year homes averaged 53 days on market. 

The Asheville region includes Burke, Buncombe, Haywood, Henderson, Jackson, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania and Yancey counties. 

Asheville MSA

Metro-Asheville home sales ticked upward in November, increasing 4.4 percent year-over-year, as 835 homes sold, 35 more than sold this time last year. The MSA is mirroring the region, as buyer demand, displayed by pending sales rose 13.9 percent year-over-year, as 801 homes went under contract during the month. New listings declined 4.1 percent year-over-year as sellers only listed 659 homes for sale versus 703 listed in this time last year.  

Affordability and supply challenges persist across the four county MSA, inventory was down 39.3 percent year-over-year leaving 1,072 homes for sale or 1.3 months of supply. Both the median sales price ($375,000) and the average sales price ($479,805) rose 12.4 percent and 20.7 percent year-over-year respectively, while the average list price rose 10.6 percent year-over-year to $478,948. Sellers across the four-county MSA received 98.1 percent of asking prices for their homes this past month, while homes continued to sale quickly, averaging 26 days on market until sale. 

Cagle added, “The outlook for next year continues to be healthy and Realtors® in our area expect similar seller’s market conditions next year.”

Buncombe County

Homes sales rose 7.1 percent year-over-year as 465 homes sold verses 434 that sold in November 2020.  Pending sales activity also increased, rising 5.2 percent year-over-year as 423 homes went under contract during the month, while new listing activity decreased 3.5 percent compared to last year with 381 new listings. Inventory is challenged and fell 40.7 percent to 581 homes or sale or 1.3 months of supply. Last year at this time there were 980 homes on market and 2.5 months of supply. Low supply amidst steady demand forced both the median sales price ($400,000) and the average sales price ($532,807) to rise 13.2 percent and 24.2 percent year-over-year respectively.  The average list priced rose 9.4 percent to $514,596. This brought the original list price to sales price ratio to 98.9 percent, while homes sold faster, averaging 24 days on market in November versus 47 in November 2021. 

Haywood County

Haywood County home sales declined 6.6 percent year-over-year as 128 homes sold versus 137 that sold in November 2020. Pending sales, showed buyer demand increasing sharply in November, rising 31.5 percent year-over-year as 121 homes went under contract during the month.  New listing activity also recorded a slight uptick, rising 2.2 percent as sellers listed 95 homes for sale.  Inventory, like most of the counties in the western region, is low and fell 37.8 percent year-over-year leaving 178 homes for sale or 1.5 months of supply. The dynamic between supply and demand continues to impact prices, which rose.  Both the median sales price ($339,000) and the average sales price ($374,476) rose 29.4 percent and 14.2 percent year-over-year respectively, while the average list price rose 6.6 percent compared to last year, to $350,192.  Sellers received 96.3 percent of asking prices in November 2021, according to the original list price to sales price measure and homes were on market an average of 28 days during the month.    

Henderson County

Home sales in Henderson County increased by 4.4 percent year-over-year as 212 homes sold versus 203 that sold in November 2020.  Pending contract activity shows buyer demand is strong in Henderson County, and rose 25.8 percent year-over-year this past month, as 229 homes went under contract, signaling strong sales to come over the next 45-60 days. New listings however declined 7.7 percent compared to last year as only 155 homes were brought to market compared to 168 this time last year. Inventory remains tight, falling 40.1 percent year-over-year, leaving 249 homes for sale at report time or 1.2 months of supply. Both the median sales price ($368,950) and the average sales price ($440,759) rose 11.8 percent and 16.2 percent year-over-year respectively, while the average list price of $485,940 was 18.7 percent higher than last November. This brought the original list price to sales price ratio to 97.6 percent, while homes sold faster, averaging 26 days on market until sale in November.

Madison County 

(Due to small sample size of homes for sale, percentages of change can look extreme.) Sales in Madison County rose 15.4 percent year-over-year in November as 30 homes sold compared to 26 that sold in November 2020. Pending sales increased 3.7 percent year-over-year as buyers, still seeking homes close to metro-Asheville drove 28 homes under contract during the month, compared to 27 that were under contract this time last year.  New listing activity declined 9.7 percent year-over-year as 28 homes were added to inventory versus 31 that were listed in November 2020.  Inventory is low and declined 24.7 percent this past month, leaving 64 homes for sale or 2.4 months of supply.  Prices were mixed and favored buyers, with the median sales price ($339,860) falling 11.7 percent year-over-year while the average sales price ($380,089) was unchanged compared to last year.  The average list price was also nearly unchanged, down slightly, 1.5 percent year-over-year to $389,067. The original list price to sales price ratio was 97.7 percent as sellers got nearly all of asking prices, while days on market showed homes averaging 40 days on market until sale in November. 

Other counties around the region

Burke County closed sales rose 15.7 percent year-over-year as buyers closed on 81 homes in the county versus 70 this time last November. Pending sales counts were unchanged, totaling 81 under contract transactions, while new listings decreased 13.9 percent with only 68 homes listed for sales.  Inventory is tight and fell 36.9 percent year-over-year leaving 89 homes for sale or 1.1 months of supply.  The median sales price ($215,000) rose 8.7 percent year-over-year while the average sales price ($246,000) was mostly unchanged, down 0.5 percent year-over-year.  The average list price was also roughly unchanged, rising 1 percent year-over-year to $262,822, which brought the original list price to sales price ratio to 95.2 percent. Days on market showed home were on the market for the same amount of time as last year, 25 days. 

(Due to small sample size of homes for sale, percentages of change can look extreme.) Jackson County sales declined 41 percent year-over-year in November as 23 homes sold compared to 39 in November 2020.  Pending contract activity declined as well, falling 12.9 percent year-over-year as only 27 homes wen under contract during the month compared to 31 that were under contract this time last year. New listing activity fell 4.8 percent year-over-year, as sellers listed 20 homes for sale, just one less than listed in November 2020.  Still, Jackson’s County’s housing activity is healthy, with November reflecting normal seasonality, while year-to-date figures show the county’s sales activity in 2021 pacing well ahead of last year. Prices were mixed, with the median sales price ($288,000) falling 7.1 percent year-over-year, while the average sale price rose 7.6 percent year-over-year to $420,474.  The average list price increased 26.4 percent year-over-year to $466,650, which brought the original list price to sales price ratio to 93.8 percent in November. Inventory is down 54.9 percent year-over-year leaving 113 homes for sale at report time or 1.7 months of supply. Homes averaged 87 days on market until sale in November 2021, versus 131 days this time last year. 

McDowell County home sales decreased in November falling 11.1 percent year-over-year as 40 homes sold versus 45 in November 2020. Pending contract however increased 29.4 percent year-over-year as 44 homes went under contract versus 34 this time last year. New listing activity is down 4.5 percent as 42 homes were listed during the month versus 44 this time last year.  Meanwhile, inventory continues to fall, declining 30.9 percent year-over-year leaving 85 homes for sale or two months of supply. Prices increased, with the median sales price ($254,500) rising 13.1 percent compared to last year, and the average sales price increasing 33.7 percent year-over-year to $356,116.  The average list price rose 29 percent to $330,283 in November, bringing the original list price to sales price ratio to 94.9 percent.  Home sold quickly, averaging 36 days on market until sale during November 2021.

(Due to small sample size of homes for sale, percentages of change can look extreme.)

Mitchell County home sales in November were unchanged compared to last year with, 21 homes sold, while pending contract activity increased 15.8 percent year-over-year as 22 homes went under contract during the month.  New listing activity declined 6.3 percent compared to last year as sellers listed 15 homes for sale compared to 16 new listings this time last year. Inventory at report time showed 41 homes on market or 2.2 months of supply. Prices rose during the month. Both the median sales price ($299,000) and the average sales price ($327,833 rose 57.4 and 51.2 percent year-over-year, while the average list price rose 14 percent compared to last year, to $302,620.  This brought the original list price to sales price ratio to 94.3 percent in November, while days on market showed homes averaging 47 days on market until sale, compared to 57 days this time last year. 

Polk County home sales in November declined 36.4 percent year-over-year as 35 homes sold versus 55 that sold in November 2020. Pending sales activity rose slightly, 3.4 percent year-over-year as 30 homes went under contract versus 29 during the same period last year. New listing activity decreased 18.8 percent compared to last year as sellers listed 26 homes for sale compared to 32 listed in November 2020.  Inventory declined by 35.4 percent year-over-year leaving 64 homes for sale or 1.7 months of supply. Prices were impacted. Both the median sales price ($325,000) and the average sales price ($426,961) rose 4.1 percent and 18.5 percent year-over-year respectively, while the average list price rose 88 percent compared to last year to $614,181.  This brought the original list price to sales price ratio to 94.8 percent in November, while days on market until sale showed homes on market for 54 days in November compared to 45 days during the same period last year.

Rutherford County home sales increased 2.4 percent year-over-year in November as 86 homes sold versus 84 this time last year. Pending sales, showed buyer interest was high and increased 25.3 percent year-over-year as 94 homes went under contract compared to 75 in November 2020. Sellers responded favorably to the market in November as new listing activity also increased 23.3 percent as 90 homes were listed versus 73 listed in November 2020. Inventory declined 25.8 percent year-over-year leaving 118 homes for sale at report time or 1.3 months of supply. Buyers experienced some relief with prices during the month, which showed both indices declining. The median sales price of $242,500 dipped 10.1 percent year-over-year while the average sales price ($306,741) declined 3.2 percent compared to last year. The average list price however increased 13.1 percent year-over-year to $291,907 and this brought the original list price to sales price ratio to 96.5 percent in November. Homes continue to sell quickly, as noted by days on market which averaged 26 days in November 2021.

(Due to small sample size of homes for sale, percentages of change can look extreme.)

Swain County had very little activity during the month of November 2021, with just seven sales reported compared to six sales in November 2020. At report time only one home was under contract and new listing activity was unchanged compared to last year, with just four homes listed during the month. There were 17 homes in inventory or 2.7 months of supply.  The median sales price ($380,000) rose 2 percent year-over-year and the average sales price ($459,271) rose 31.7 percent year-over-year. The average list price reached $2.6 million and sellers in the market received 89.1 percent of asking prices, according the original list price to sales price measure. Days on market in November 2021 averaged 45 days compared to 86 days for the same period last year.

Transylvania County home sales decreased 14.5 percent year-over-year as 65 homes sold versus 976 homes that sold in November 2020. Pending sales also declined 11.3 percent compared to last November, as buyers drove 63 homes under contract during the month versus 71 homes that were under contract in November 2020. New listing activity also declined by 16.2 percent year-over-year as sellers listed 57 homes for sale versus 68 homes that were listed in November 2020. Inventory is tight and declined 40 percent year-over-year leaving 111 homes for sale or 1.7 months of supply. Prices were mixed during the month. The median sales price ($345,000) decreased by 3.6 percent year-over-year while the average sales price of $507,579 increased 17.8 percent year-over-year.  The average list price increased 74 percent year-over-year to $693,898. This brought the original list price to sales price ratio to 95.6 percent showing sellers in Transylvania County receiving close to asking prices during the month. Homes averaged 42 days on market until sale during the month of November compared to 60 days in November 2020.

Yancey County home sales were unchanged year-over-year as 37 homes sold in November 2021. Pending sales show buyers drove 47 homes under contract during the month compared to 25 in pending status in November 2020. New listing activity increased 27.6 percent year-over-year as 37 homes were listed this past November. Both the median sales price ($311,000) and the average sales price ($401,014) increased by 16.9 percent and 11.5 percent year-over-year respectively, in response to declining inventory, which showed 71 homes on market or 2.2 months of supply at report time. The average list price also increased 160 percent year-over-year to $825,614.  This brought the original list price to sales price measure to 94.2 percent in November 2021, while days on market until sale showed homes on market an average of 52 days in November compared to 99 days this time last year. 

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.

Canopy MLS is a wholly-owned subsidiary corporation of Canopy Realtor® Association and is the private broker cooperative used by Realtors® to bring buyers and sellers together with access to thousands of residential listings in a multicounty service area, including Charlotte, the mountains area of North Carolina, South Carolina, and beyond. Canopy MLS, which has 21,000 subscribers, provides the most trustworthy, timely, accurate and complete property data along with proprietary tools for showings, market stats, predictive analytics, and more. Canopy MLS is used by its members to support consumers in their residential real estate transactions, whether selling, buying, investing or renting.

Original Publish Date: 1/6/2022