3rd Quarter 2011 Asheville and Buncombe County Real Estate Market Analysis

Unfortunatly, this is news to be expected... the Asheville and Buncombe County real estate market remains sluggish.  Below is quick summary of the Asheville and Buncombe County housing market through the end of the 3rd Quarter.  For the complete market analysis, and to see the charts and graphs, download that Asheville Home Sales Report.

Summary- Average prices have dropped slightly between 2010 and 2011 (Graph 3). Generally, prices in 2011 have stayed consistent in Asheville, while having dropped slightly in Buncombe County (Graph 4). Although overall prices have stayed somewhat consistent, there has been variability in home prices within each sell price group (Chart 3 and Chart 4).

The average Days on Market (DOM) is reaching new highs, with 175 DOM in Asheville and 186 DOM in Buncombe County (Graph 5). Inventory levels are still high in Asheville and in Buncombe County, especially in the upper price ranges (Chart 1 and Chart 2). As long as inventory levels are high, there will be downward pressure on prices. A balanced and healthy market has inventory levels of 6 months, and every price segment in Asheville and Buncombe County has inventory levels over 6 months, with the exception of the lowest price range.

Please refer to the graphs and charts in the full market analysis.