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 [...]
Asheville, North Carolina appeals to those seeking a change of pace and a small-town feel without giving up access to larger city amenities. The mountain city is a haven for outdoor enthusiasts of all skill levels and interests—and it’s equally shaped by art, food, music, and (of course) [...]
Asheville’s Beginnings
The land in and surrounding Asheville was part of the ancestral land of the Cherokee Nation. For thousands of years, the Cherokee thrived in Asheville (or Togiyasdi which translates to “Where They Race”), and today the Eastern Band of Cherokee Indians (EBCI) remains a cornerstone of Western North Carolina that [...]
Welcome to Biltmore Park, a vibrant and charming community nestled in the heart of Asheville, North Carolina. As a potential homebuyer, you may be wondering what makes this neighborhood so special. Well, prepare to be intrigued as we take you through a virtual tour of this [...]
It’s a month into the spring season in the mountains. Flowers are blooming, days are increasingly warm, and spring green is making its way up the mountainsides. While the entrance to spring is always a gradual transition in our area, the momentum of the local real estate market in our area has been building for months.
Our area has experienced a low inventory of homes on the market for many years. While many states across the country experienced similar trends with home inventory levels in 2020, the Black Mountain and Buncombe County area is no different, and in fact, has reached historically low inventory levels. For example, at the end of the 1st quarter of 2021, there were 489 homes listed for sale in Buncombe County on March 31st, compared to 1,284 in 2020 -- which is a decrease of 62%.
The low inventory has continued to cause price increases as the average sales price of homes sold in the 1st quarter of 2021 was $457,204, compared to $375,968 in the first quarter of 2020, or an increase of 21.6%. The average list to sales price increased from 93.9% in 2020 to 97.4% in 2021.
In Black Mountain, the market trends have mirrored Buncombe County statistics, but have shown even stronger signs. List to sales price was 100% in the first quarter compared to 97% in 2020, indicating that sellers are largely selling their homes at or above their listing price. The average sales price for the first quarter in Black Mountain was $450,159 in 2021, compared to $298,859 in 2020 -- an increase of 51%. There are only 26 active listings in Black Mountain compared to 70 this time last year.
A tightening housing market often leads to an increase in sales of vacant land, and this is exactly what we’re seeing in Black Mountain and Buncombe County. The number of land sales in Buncombe County increased by 64%, or to 272 in 2021, compared to 166 in 2020. Total sales volume was even greater, with $23,444,000 sold in 2020 compared to $45,486,000 in 2021, an increase of 94%. Raw land sales volume in Black Mountain increased from $1,792,028 to $6,812,000 in 2021, a 280% increase.
Neighboring McDowell County is an area that has been increasingly seen as an option for buyers looking to "get more house for a lower price tag." McDowell's low inventory has also driven the median price up by 45% from $147,450 to $214,000. The inventory of homes plummeted 67% from 183 homes in March 2020 to 60 homes in 2021. The Lake James area is also seeing an increase in demand, which is most readily evident in the sharp increase in the sales volume of lot sales. Lot sales in Lake James increased by over 300% from $1,563,000 in 2020 to $6,294,700 in 2021.
I’ve been observing that market trends have shifted since the beginning of the 1st quarter. The number of new listings gives a good indication of total sales volume and it’s clear that listed inventory is selling very quickly. As of March, the total sales volume in Buncombe County was up 18%. Typical days on market in Buncombe County have decreased by 34.7% from an average of 75 days to 49 days. Year to date, new listings are only down by 1% over 2020. New listings were up by 3.2% this March, but it’s important to note that March 2020 marked the beginning of the pandemic. Last year, new listings were down 5.2% overall. Ultimately, it’s becoming increasingly evident that market trends are poised to show an overall increase in total sales volume for 2021.
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With two houses and detached studio space – this one-of-a-kind log cabin on North Fork Right Fork Road in Walkertown Valley is perfect for those looking to be close to nature with lots of space while also being close enough to the amenities of Downtown Black Mountian. Located just outside of downtown Black Mountain with 1.53 acres, this [...]
Asheville's South Slope district, which was once home to tired industrial buildings, is now a fully revitalized section of town that boasts over 10 breweries as well as noteworthy eateries like Buxton Hall Barbecue, Bharmari Brewing, and Wicked Weed Brewing's new restaurant, Cultura, which pairs well with the brewery's innovative sour beers. The flourishing district offers the best of Asheville's laid-back mountain feel, with plenty of options for activity and culture.
241 Short Coxe Avenue is a 2 bedroom luxury condo with 2 full bathrooms and 2 partial bathrooms, and the perfect home to enjoy all that life in downtown Asheville has to offer -- with a location right on the corner of the South Slope, walkable to much of downtown. The home is adorned with premium granite, a natural gas fireplace, upscale appliances, radiant heated floors in the foyer and both full bathrooms, as well as travertine tiles in both the master and guest bathrooms. Sit on the private fourth-floor patio to enjoy views overlooking Asheville. Parking is never a challenge with the condo's private 2-car garage. Easily access the 3 floors of living space with the home's private elevator. Listed at $849,000, this 2017 condo with over 2,000 square feet of living space, 
may just be the perfect spot to call home, or your next home away from home. Contact a Greybeard realtor for more details.
Looking for a second home that can be utilized as a short-term rental when you're not in town to enjoy Asheville? While vacation rentals are restricted in the majority of downtown Asheville, the future owner of this home will also enjoy the rare privilege of owning a home that is compliant to rent as a short-term vacation rental within the city. Greybeard's rental division will be happy to discuss rental options.
If you are looking for long-range views of the Blue Ridge Mountains while still being close enough to walk to downtown Asheville, you won’t want to miss the four-bedroom, three-bathroom home at 188 Cherokee Road in Asheville. This custom mountain home is within 2 miles of walking to downtown Asheville and features beautifully landscaped gardens with rock pathways and a custom rock wall. You will never have to worry about your view disappearing since the home is protected by ownership of the strip of land in front of the sloped lot.
Listed at just under $1 million at $999,900, this graciously appointed home offers residents privacy and gorgeous views from its 3 decks.
The main floor is designed with an open floor plan with lots of windows so you never miss the view. Buyers have the choice between two master bedroom suites on the upper or lower levels. Other notable features of the home include granite countertops, vaulted ceilings, multiple fireplaces, and an attached two-car garage.
Contact GreyBeard Realty for more information about this home. In the meantime, create an account to save this listing and to be notified when similar properties become available. You can also take a look at more Asheville homes. If you have a home you’re ready to list, learn more about selling with Greybeard.
For several quarters now, signs have been pointing to a shift in the western NC housing market. The 2019 first quarter numbers further indicate that supply continues to increase while average price is holding steady or decreasing. A closer analysis of these 2019 indicate that these and other numbers support the notion that the western NC [...]
Living in Asheville not only provides access to incredible hiking but also proximity to some of the most incredible natural swimming spots you’ll ever find. If you’re considering [...]
