As we move through the middle of 2026, the year-to-date numbers are in — and they tell a story of two markets. Buncombe County and Asheville, the region's commercial and population center, are diverging sharply from the trends emerging in Burke and McDowell Counties. 

Buncombe's closed sales are up double digits both in June (+18.6%) and year-to-date, while Burke and McDowell are showing clear signs of cooling — fewer closings, softer prices, and inventory building faster than demand can absorb it.

Buncombe County: A Resilient Metro Market Amid Rising Inventory

In Buncombe County, closed sales YTD are up 6.1% (1,651 vs. 1,556). June closings are up 18.6% YoY. Pending sales show strong momentum, with a 12.7% YTD increase. Median prices are down nearly 3% YTD to $480,000, but average prices are up 4.0%, indicating that higher-end properties are propping up averages while traditional-home pricing softens. Months' supply of inventory tightened from 6.6 to 5.9 as raw inventory grew 5.6%, suggesting sales are outpacing supply.

Burke County: Moving Toward a More Balanced Market

Meanwhile, in Burke County, closed sales YTD are down 11.9%, and June closings are down 13.5%. Median price YTD decreased by 1.8% to $275,000. Months' supply spiked from 3.5 to 4.6, a 31.4% increase. Burke has experienced the most dramatic shift of the three counties, moving from a seller's market toward a balanced market. Inventory in the county is up 22.3% YTD.

McDowell County: Prices Soften as Inventory Expands

Closed sales in McDowell County are down 9.8% YTD, while pending sales are down 10.9%. Median prices are down 6.7% to $293,750, the most notable decrease for the region. Months' supply is flat at 6.9 months. McDowell County was already in a balanced-to-buyer's-market position, and it is staying firmly in that position. Days on market are up 24.6% YTD.

What Rising Days on Market Really Means for Buyers and Sellers

While days on market (DOM) are up in all three counties, the narrative is not the same across all counties. Rising DOM can indicate a rebalancing market, including buyers regaining leverage, not necessarily a decrease in buyer demand.

For sellers, pricing accuracy is critical for success. Homes priced in alignment with market reality are still seeing movement, whereas overpriced listings are the ones dialing up days on market. List-to-close time is up across all counties: Buncombe +21.6%, McDowell +5.2%, Burke +5.7%. Sellers would be wise to plan for a longer time frame from list to close, not merely a longer time to receive an offer.

On the flip side, buyers have more time to evaluate their options, less pressure to offer over the asking price, and more negotiating room. This is especially true in Burke and McDowell Counties, where inventory is outpacing sales.

Regional Takeaways — What to Watch in the Second Half of 2026

The region's cooling effect is happening at different speeds and in different ways. Buncombe County has had the tightest inventory of the three counties in recent years and therefore has the least room to loosen, whereas Burke and McDowell counties are experiencing supply outpacing sales. In the coming months, we'll be watching whether Buncombe County's inventory growth (+5.6% YTD) begins to outpace closings the way it already has in Burke and McDowell counties. Will Burke County's months' supply continue to increase or stabilize? Whether McDowell County's price softening finds a floor or continues will be worth watching as well.

For sellers in these markets, having a pricing strategy that aligns with the specific county's pace is essential. For buyers in Burke and McDowell counties, negotiating power is currently in their favor — however, if inventory growth begins outpacing sales the way it has in Buncombe, that window may close.

Need a guide to help you navigate the changing market trends? GreyBeard Realty has agents at office locations throughout the region — Asheville, Black Mountain, Old Fort, and Lake James. Contact our knowledgeable team to ensure a smooth real estate process from start to close.

 Common Questions About the 2026 Regional Market

Is the Asheville real estate market slowing down in 2026?

Not across the board. Buncombe County and the Asheville region are showing resiliency with closed sales up 6.1% YTD and 18.6% in June. Burke and McDowell Counties, however, are experiencing a cooling trend with closed sales down 11.9% and 9.8% year-to-date, respectively. 

Are home prices dropping in Western North Carolina? 

Median prices have softened in all three counties so far in 2026. Median prices are down 2.8% in Buncombe, 6.7% in McDowell, and 1.8% in Burke. However, average sales in Buncombe County are being propped up by the higher end of the market and are up 4%.

Is it a buyer’s market or a seller’s market in Asheville right now?

Buncombe County is positioned closest to a seller’s market, with months' supply of inventory tightening to 5.9 months. Burke County is showing a shift from a seller’s market to a more balanced market, whereas McDowell County is already squarely in the balanced-to-buyer’s-market category.

Why are homes taking longer to sell in 2026?

Days on market trends are up across all three counties. It’s important to distinguish that this reflects buyers regaining negotiating leverage rather than a drop in consumer demand. This is particularly true in Buncombe County, where days on market increased 43.4% while closed sales also increased. 

Which Western North Carolina county has the most buyer negotiating power right now?

To date, Burke and McDowell Counties offer more opportunities for buyers to negotiate against the backdrop of inventory growing faster than sales. Inventory is up 22.3% in Burke and 11.1% in McDowell County. 

Spring is in full swing in the mountains of Western North Carolina, and the GreyBeard Realty team is back with insights on what has been happening in the real estate market in 2026 for the first few months of the year. Numbers through March reveal a continuation of a theme that was a large part of the narrative of 2025: A shift from a [...]

Happy New Year from the team at GreyBeard Realty! We hope that 2026 is off to a great start in your world. In this market report, we plan to review the closing numbers of 2025 for local real estate trends and offer a few insights into where we think the market is headed next.  Our past market analysis over 2025 reported on the notable shift [...]

Previous month’s trends have shown the Western North Carolina real estate market is experiencing a cooling phase, and Q3 of 2025 is a continuation of that pattern with our once tight seller’s market shifting to a more balanced market – now in favor of a buyer’s market. The one data anomaly is a sharp increase in pending sales. While the 64% [...]

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.

 

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 [...]

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 [...]

Asheville Market Update and Analysis

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It has been a little over a month since the mountains of Western North Carolina received over three months' worth of precipitation in a single day, resulting in historic flooding. The region experienced widespread outages and devastation. Naturally, the real estate market was also heavily impacted. While some areas were left untouched or [...]

The Western North Carolina real estate market has been a seller’s market for years, driven by historically low inventory. While Asheville and the surrounding region remain competitive, new signs of balance are emerging as months’ supply of inventory increases in Buncombe, Burke, and McDowell Counties. McDowell County, in particular, is showing notable shifts in list-to-sales price ratios and average days on market.

Buncombe County

Inventory of homes for sale in Buncombe County rose 21% year-over-year at the end of Q2. Despite the increase, the county remains a seller’s market. Average sales prices climbed 7.3% to $616,150, while the median sales price increased 3.3% to $475,000.

Burke County

Burke County’s housing inventory doubled compared to last year—rising from 98 to 199 active listings. A balanced market typically reflects 4–5 months of supply; Burke is currently at 3 months. Average home prices increased 4.1% and the median rose 3.3% year-over-year.

McDowell County

McDowell County’s housing market also experienced growth, with inventory up 34% compared to last year. At 3.5 months of supply, the county remains a seller’s market but is showing early signs of balance. The average sales price is up 31%, skewed by several multi-million-dollar sales at Lake James. More tellingly, median prices rose 14% to $306,000, while list-to-sales ratios slipped from 95% to 92%, and days on market increased from 37 to 62—clear indicators of a market beginning to cool.

Conclusion

The Western North Carolina real estate market remains a seller’s market overall, but indicators point toward an approaching balance. Rising inventory in Buncombe, Burke, and McDowell Counties, combined with shifting pricing ratios and longer market times, suggests the region could be transitioning to a more balanced market in the months ahead.