With over 2,000 homes within the community, the diverse Oakley neighborhood is conveniently located just off I-240 and adjoins Sweeten Creek Road to the west and the Blue Ridge Parkway to the southeast. In addition to being located just south of downtown Asheville and the Kenilworth neighborhood, Oakley is home to Oakley Elementary, the Oakley Library, a fire station, and a police substation.

Its centrality to Asheville offers easy access to the city’s plentiful art, food, and culture while also providing convenience to nearby grocery and department stores such as Home Depot, Target, Walmart, Whole Foods, and Lowe's – all within a less than 2-mile radius.

History of the Oakley Neighborhood

While not officially incorporated into the City of Asheville until 1960, the Oakley area, formerly known as “West’s Chapel” or “East Biltmore,” was an area that housed workers at Sayles Bleachery in the early 1900s. As small developments were established along Fairview Road, the Oakley boundaries were drawn around these existing sites. Oakley’s rich history lives on with many of its original housing stock, largely mill homes, that have been lovingly renovated. In addition, many newly built craftsman-style homes fill once vacant lots. Those seeking Oakley homes for sale are sure to find a prized piece of Asheville’s rich history.

The Personality of Oakley

Appropriately named after the old-growth oak trees that line the neighborhood, Oakley has a classic neighborhood feel and is a close-knit community with elements like the Fairview Road Resilience Garden (which was established in 2020) and offers neighbors an option to plot and grow their own produce in one of the raised beds. The Oakley/South Asheville Library, Murphy-Oakley Park, and Oakley Elementary School are all central to the neighborhood and offer natural gathering places for members of the community.

“East Biltmore” and Recreation

Asheville’s primary tourist attraction, the Biltmore Estate, with its sprawling grounds and specially curated gardens, neighbors the Oakley community. Along with historic Biltmore Village, Biltmore Estate is arguably the most notable landmark in our beautiful city. Oakley’s positioning gives residents unique access to the Biltmore’s endless options for recreation.

Whether exploring Biltmore Estate’s many trails on foot or on bike, picnicking among its rolling pastureland, strolling through its thriving gardens, dining at its renowned restaurants, or sampling locally made libations at its winery, there are endless entertainment opportunities, all in one location. Just 5 minutes from Oakley, residents can also access the Blue Ridge Parkway’s Visitor Center, miles of scenic drives, and countless hiking trails and overlooks. Kids of all ages will be thrilled to know the WNC Nature Center is at a similar proximity—just 5 minutes from the community!

Whether you're interested in Asheville homes for sale or are specifically focused on the Oakley neighborhood, our knowledgeable team of local brokers is here to discuss options and help guide your search.

GreyBeard Realty and its all-local broker team are hosting a Black Mountain Tour of Homes Open House event that features over 10 Black Mountain and Montreat listings on Sunday, August 24th, from 2-4 p.m. Get a glimpse of a variety of homes for sale, from adorable one-bedroom bungalows in the heart of downtown Black Mountain to upscale [...]

Riceville Neighborhood : Asheville Real Estate Guide

Winding roads from Black Mountain, Swannanoa, and through the pastoral agricultural setting which encircles the Warren Wilson College campus lead to a region known as the Riceville community, which is situated between Swannanoa, the [...]

Q2 Market Analysis | Buncombe, Burke, and McDowell Counties

In April’s Q1 market update, we reported on the market softening trends that we observed signs of as early as July 2024. A red-hot seller’s market was seeing movement towards a more balanced market. As we approach a year after this notable transition, the numbers reveal a perpetual trajectory towards a buyer’s market in Buncombe County’s long-time seller’s market, but McDowell and Burke County are not necessarily following suit.

Buncombe County Market

In Buncombe County, 184 more listings were added to the market than were taken off the market (changed to under contract status). New listings increased by 11% and total inventory increased by 78% (1,589) compared to June 2024. The month’s supply of inventory doubled to 6.2 months. Closings were down 9.2% compared to June 2024. The increase in inventory and the decrease in closings have forced a downward pressure on prices. The median price is down 6.9% compared to 2024, year-to-date numbers.

Burke County Market

Closer to Lake James, Burke County has remained a seller’s market and isn’t showing the significant increase in inventory that Buncombe County has experienced. The month’s supply is 3.3 months, only a slight increase from 2024. New listings year-to-date are down 5.5% from 2024, and closings are flat. As a result, we are not seeing the same downward price pressure. The median price is up 9.8%, and the average price is up 6.1%. We don’t have a definitive reason for the difference between the Buncombe and Burke County markets. Some may speculate that it could relate to the impact of Hurricane Helene from last September, which had a more notable impact on Buncombe County than in Burke County.

McDowell County Market

McDowell County is pacing as a neutral market with a 6.5-month supply of inventory. New listings increased by 20% (66), and homes that went under contract rose by 15% (47) compared to 2024.  Homes sold increased by 19% over 2024—a really surprising increase compared to last month and other counties. The average sales price was up 7% compared to 2024, making the average sales price of a home in McDowell County $26,000 more than in 2024. 

Conclusion

It’s a bit difficult to find a common thread when comparing Buncombe, Burke, and McDowell counties to one another coming out of Q2. Trends have less commonality compared to past months. Buncombe’s market continues to soften toward a buyer’s market, Burke County is showing signs of a robust seller’s market, and while McDowell County has a higher month's supply than Buncombe County, the average price also rose 7%. We will continue to monitor these trends over the next month to see if these opposing trends continue across counties. 

If you are interested in learning more about what these market trends could mean for your prospects when buying or selling your home in Buncombe, Burke, McDowell, or any surrounding counties, contact our GreyBeard Realty team. You can also browse the latest Asheville homes for sale to get a pulse on the market, along with other Western North Carolina real estate listings.

 

For many, a major draw of living in Swannanoa is the natural beauty that comes with living in the Valley with its river views, its pastoral settings near Warren Wilson College, and more high-elevation real estate in settings such as [...]

Haw Creek Neighborhood: Asheville Real Estate Guide

The checklist is not uncommon. You want proximity to the restaurants, breweries, and a lively arts culture in downtown Asheville, but you’d also like to feel like you have your own piece of Asheville real estate where you can lay down roots and grow (maybe literally and figuratively) [...]

It’s no secret that our GreyBeard Realty broker team has its collective fingers on the pulse of our region’s market and exhibits a wealth of knowledge when it comes to the best Asheville and Western North Carolina neighborhoods. However, they are also local people who love these mountains and are eager to share some of their favorite [...]

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 [...]

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 [...]

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 [...]