October 19, 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 September declined 16.9 percent, with 547 properties sold compared to 658 properties sold in September 2017. Compared to the previous month (August 2018), September’s sales were down 24.7 percent. Year-to-date sales for the MSA were down 2.5 percent compared to the first nine months of 2017.
The average sales price in September 2018 ($319,682) increased 7.0 percent compared to September 2017 ($298,841), while the median sales price ($268,500) increased 5.2 percent compared to September 2017 ($255,250). Compared to the previous month (August 2018), the average sales price decreased 3.6 percent, while the median sales price rose 1.3 percent.
The average list price across the MSA ($378,108) increased 7.7 percent compared to September 2017 ($351,223), bringing the percent of original list price received measure to 94.9 percent, which is an increase of 1.1 percent compared to the same period last year. Pending sales in September (663), which are a forward-looking indicator and a measure of buyer demand, increased 13.7 percent compared to September 2017. Compared to the previous month (August 2018), pending sales decreased 13.7 percent.
New residential listings (878) increased 10.4 percent in September 2018 compared to the same period last year. Compared to the previous month (August 2018), new listing counts were down 14.6 percent. Inventory continued to fall, with the number of homes for sale down 7.6 percent compared to September 2017, which left the Asheville region with 3,058 properties for sale at report time, or 4.9 months of supply of inventory. A year ago in September 2017 the MSA had 3,308 properties for sale, or 5.4 months of supply.
The average number of days a property was on the market from the time it was listed until it closed (list to close) was 117 days compared to 119 days in September 2017. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 61 days, which is six days less time on market when compared to September 2017.
Other counties within the region with significant activity:
Henderson County, which lies south of Asheville and whose principal city is Hendersonville, had a decline in home sales in September 2018 with closings down 7.5 percent compared to sales in September 2017. Both the average ($287,941) and median ($262,000) sales prices had moderate increases year-over-year and were up 2.0 percent and 9.2 percent respectively. Pending sales rose 7.4 percent compared to the previous year, while inventory remained roughly unchanged, leaving the county with 4.1 months of supply. Properties are moving faster in Henderson County, with days on market at 47 days compared to 69 days in September 2017.
Haywood County, which lies west of Asheville and Buncombe County and whose principal city is Waynesville, had a 16.4 percent decrease in home sales compared to September 2017. The average sales price ($254,260) declined 4.8 percent compared to the average sales price last year ($267,055) while the median sales price ($226,500) increased 4.1 percent to September 2017. Pending sales rose 15.7 percent compared to the previous year, while inventory declined 15.5 percent, which leaves the county with 6.0 months of supply at the current sales pace. Properties are averaging 83 days on market compared to 98 days on market in September 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.comand click on “Market Data.” For an interview with an Asheville Realtor®/broker, please contact Kim Walker.
The Charlotte Regional Realtor® Association is a trade association with more than 11,000 Realtor® members. The Association is dedicated to being the region's primary resource for residential real estate information. The Association operates the Carolina Multiple Listing Services, Inc. (CarolinaMLS), which has more than 16,100 Subscribers and is the private cooperative Realtors® use for access to tens of thousands of residential listings in a multicounty service area, including Charlotte, the Piedmont and Mountains areas of North Carolina and South Carolina, and beyond.
Original Publish Date: 10/19/2018