In January’s outlook, we suggested that trends were pointing towards a more balanced market with flatter prices. This shift in market trends isn’t a direct result of Helene’s impact–contrary to what might be assumed. Even as of July 2024, before the hurricane, we were noticing indications of a more balanced market as supply was on the rise. [...]
Home to over 700 Asheville artists, the River Arts District is a community in Asheville that borders the French Broad River and experienced some of the most devastating impacts from last year's hurricane. Many of the 26 buildings that line the District were impacted by floodwaters. The Upper River Arts District, or Upper RAD, had a soft [...]
For those who have been spending the winter months pondering listing their Asheville homes for sale, it is not uncommon to list in spring, just before what some have termed the "summer selling season." For Asheville, the spring and summer months are a popular time to sell due to the warmer temperatures. However, Asheville's tourist economy [...]
Five months after Hurricane Helene devastated communities and riverside areas in Western North Carolina, signs of the ongoing recovery remain, but we are also proud to say that a lot of progress has been made in our region, and the people in our communities have exhibited incredible resilience. The Army Corps of Engineers recently projected [...]
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Condos are a great option for those seeking affordable property in Asheville. Typically offering shared amenities like gyms, pools, and tennis courts, condos provide opportunities for recreation and socializing within a secure community. In addition to being in a desirable location, condos are also low maintenance, as HOA fees usually cover [...]
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The question that has been reverberating across our brokerage walls and in GreyBeard agents’ conversations with friends and clients over the past few months is a question that you might just have yourself – how has Helene’s wake impacted the Asheville and Western NC real estate market? While the question [...]
Lake James, located 50 miles northeast of Asheville in Burke County, North Carolina, is a captivating community nestled in the Blue Ridge Mountains. The lake covers an expansive 6,510 acres with a 150-mile shoreline and offers a wide range of outdoor activities. It's [...]
When purchasing property, acreage is a versatile amenity because it gives you endless opportunities to customize, grow, and develop. In Western North Carolina, acreage also equates to serene spaces where you can enjoy the beauty of the rugged mountains, pristine lakes, and lush woods that characterize our [...]
It has been a little over a month since the mountains of Western North Carolina received over 3 months' worth of precipitation in a day and the region saw historic flooding. The region experienced widespread outages and devastation. Needless to say, the real estate market was also shell-shocked. While some areas were left untouched or received only minor damage, there are also areas such as Biltmore Village, the River Arts District, homes and communities bordering the Swannanoa River, and sections of Old Fort that have a much longer recovery ahead.
Initially, the week of the storm, real estate activity came to a near standstill with 75 showings for the entire week, compared to over 1,200 showings for that same period in 2023. In the past week, showings in Buncombe County increased from 412 to 614—a 49% increase. While this is a positive sign for the market, it still falls short of the 1,282 showings for the same period in 2023.
In McDowell County, showings increased from 60 to 84 over the past week, a 41% increase, but is still overshadowed by the 125 showings that occurred in the same week period last year. Burke County, which saw a relatively smaller impact from Hurricane Helene, has seen very little change in showing activity. In the past week, 173 showings occurred compared to 178 in 2023. As the recovery efforts continue, we expect showings to steadily increase.
In terms of sales activity, the past 7 days saw, a total of 82 homes go under contract in Buncombe, McDowell, and Burke Counties—a 46% increase compared to the previous week. Over the past 7 days, Greybeard agents have had seven closings and 5 properties go under contract. We’re excited to share that the Biltmore Estate, parts of the Blue Ridge Parkway, and many restaurants, shops, and businesses have been actively opening up—a welcome and encouraging step on the road to recovery. Even as sales and rental activity gradually pick up, GreyBeard realtors and rental staff will continue lending hands to community members while assisting clients and customers.
Our hearts continue to be with our community during this time, and we are grateful to be helping in the relief efforts in any way we can as our area actively heals. Our Greybeard Rentals team has had the honor of housing 55 displaced families and relief workers at reduced rates thanks to our generous homeowners. While there is still much work to be done, we are embracing all of the progress made so far with gratitude and hope as we move forward.
It'’s been two weeks since Hurricane Helene barrelled through our mountains and made our rivers, creeks, and streams reach historic heights. Our hearts go out to our neighbors throughout Western North Carolina facing unspeakable loss. Greybeard is a locally rooted company, and we felt the storm’s impact on a personal level. In the wake of [...]
