As we progress into 2025, Asheville’s housing market is demonstrating resilience and adaptability, even in the aftermath of challenges like Hurricane Helene. Here’s an in-depth look at the current landscape, enriched with local data to provide meaningful insights for our community.
Economic Overview
The Asheville region boasts a diverse $24 billion economy, with key drivers including steady population growth, manufacturing, healthcare, and hospitality. Despite the setbacks from Helene, the area’s economic foundation remains robust.
Home Sales and Market Activity
In January 2025, Buncombe County saw 784 homes on the market, while the Asheville Metropolitan Statistical Area (MSA) reported 1,839 homes available. Although these figures represent a five-year high, they remain slightly below pre-pandemic levels, indicating a recovering yet cautious market.
Home Prices and Mortgage Rates
The median home sold price in Asheville reached $494,600 in January 2025, marking a 1.2% increase from the previous year. The median price per square foot stood at $312, reflecting a stable appreciation in property values.
Mortgage rates have been hovering around 7% in recent months, with well-qualified borrowers accessing rates in the 6% range. These rates, while higher than in previous years, are contributing to a stabilization of mortgage payments, aiding buyers in their financial planning.
Inventory Trends
The housing inventory in Asheville is showing signs of recovery. Despite the damage to over 9,000 residential units in Buncombe County due to Helene, new listings have rebounded, reflecting the market’s resilience. This resurgence in available homes offers buyers more options, although the market remains competitive.
Construction and New Home Sales
New home construction is experiencing a notable uptick. Projections indicate a 13.8% increase in single-family housing starts, bringing the annual total to 1.1 million—the highest since 2021. This growth is expected to alleviate some inventory constraints and provide modern housing options for buyers.
Navigating the Market
For both buyers and sellers in Asheville, staying informed is crucial. The local market’s resilience offers opportunities, but it’s essential to approach transactions with current data and a clear strategy. Whether you’re considering purchasing a new home or selling your property, understanding these trends will help you make informed decisions.
As always, I’m here to assist you in navigating Asheville’s dynamic housing market. Feel free to reach out for personalized guidance tailored to your real estate goals.
