In real estate, 2021 ended in a similar way that it began. Soaring demand for our mountain region has led to competitive, multiple offer situations and decreasing days on market. Rising prices have been met with a willingness from buyers to pay those prices (and beyond) to secure [...]
As we move through the summer months, we find ourselves on the other side of the 2nd quarter real estate numbers. While our first quarter numbers told the story of a real estate market that was bursting at the seams, the real estate market has only intensified as spring transitioned to the summer.
In Buncombe County, as a whole, the average closed price increased from $378,708 to $482,261—a 27% increase. The closed price to the original list price has been over 100% for the past two months and is sitting at a very strong 98.8% year to date. It’s very much a red hot seller’s market and properties are selling very close to list price and beyond as multiple offer scenarios are a regular occurrence. Days on market decreased from 62 days in 2020 to 43 days on market in 2021. Inventories have decreased an astonishing 52% from 2020—a decrease of 1,209 homes in 2020 to 581 in 2021.
In a similar vein, the Black Mountain real estate market average sales price increased from $316,971 in 2020 to $438,800 in 2021—an increase of 38%. Year to date, the number of homes sold through June 2021 totaled a 56% increase, or 139 homes compared to 89 in 2020. Sales to list price year to date in Black Mountain is also at 100%.
The Asheville area market is a reflection of supply and demand at the core. Demand is far exceeding supply and continues to drive the elevating prices. The only softening the market is experiencing compared to last year is that the number of new listings has increased 12.2% compared to the same period last year.
Time will tell what the market will do next, but for now, the market’s story centers around a high demand for Asheville area real estate amidst a tight supply, elevating prices, multiple offer situations, and very quick transitions from listing to closing for home sellers.
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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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When the global pandemic began to impact our corner of the world last year, there were (naturally) questions of how this new reality would impact life and business as we know it. Interestingly, the Swannanoa Valley and Buncombe County real estate market was one area that was impacted positively as we saw very high demand for homes and [...]
The term "winter wonderland" may conjure up imagery of snow angels, ice skating on frozen ponds and snowball fights. While our mountain paradise in Western North Carolina certainly sees low digit temperatures and a few seasonal snow flurries with accumulation from time to time, average high temperatures in Asheville actually tend to hover [...]
Greybeard Realty announces the addition of Christy McFadden as their newest broker. While she will be based in the Black Mountain office, she also will serve the Old Fort and Asheville offices on occasion.
Quite often, people talk about just landing in western NC and never leaving again. While the same can be true for Christy, she first explored 49 states and Mexico before finally settling down in the Asheville area, first as a student at Warren Wilson College and then with her family for the next 20 years. After the birth of her children, she became interested in early childhood development and worked as a NC infant/toddler and family specialist which took her to many communities in Buncombe, Henderson, and Madison counties. Her exposure to the various communities have provided her with an ample knowledge of the specific character and charm of the different towns within the region.
“We are so excited to have Christy on board,” remarks Chip Craig, president and founder of Greybeard Realty. “With her extensive knowledge of the various communities around Asheville, she brings a depth of information that makes her very skilled at matching potential buyers with the right sellers.”
In addition to her extensive knowledge in real estate, Christy has a passionate interest in being active. She, her husband, her two children and three dogs can be found doing a variety of outdoor activities including hiking, running, mountain biking, snowboarding, and paddling through the trails, rivers and lakes that make western NC so beautiful.
Christy joins the other 23 Greybeard Realtors who work at Greybeard Realty and Rentals, which celebrates its 20th anniversary this year. In addition to its original Black Mountain office, located at 204 East State Street, Greybeard Realty has additional offices in Asheville and Old Fort.
Whether you are interested in buying a western NC property or placing your local home on the real estate market, a local Realtor can make that process easier. Please check out Greybeard Realty's exclusive property listings. For more information, please contact Greybeard Realty at 828 669-1072 or on line through our contact Greybeard link.
With autumn coming to a close and Thanksgiving just around the corner, it seems natural to look around and take note of why we are grateful to live and work in the western NC mountains. Next year marks the [...]
Imagine yourself atop 40 acres of mountain property in the western NC mountains with 360^ views of mountains and valleys. Welcome home to 3250 Sand Branch Rd in Black Mountain. This once-in-a-lifetime offering provides ample space, both indoors and out, to enjoy the special qualities of the western NC mountains.
With more than 5000 sf of interior space, this 4-bedroom home features five stone fireplaces and a wrap-around porch that includes an indoor/outdoor eating area. A few of the meticulous upgrades include geo-thermal heating, mahogany floors, copper kitchen countertops, and a hand-crafted locust wood porch railing. Perhaps the most eye-popping feature is the rooftop observatory that is accessible via a spiral staircase. From this vantage point, views include majestic mountains as well as telescopic moon shots.
Even the drive down the entryway to this impeccable home captures the scenic essence of the western NC mountains. Located 20 minutes from Black Mountain and 40 minutes from Asheville, the trip home includes gentle slopes and tree-covered mountains, reminiscent of a national forest. True appreciation of this remarkable home requires a personal 
tour so please contact Greybeard Realty to set up an appointment.
Greybeard Realty has homes of various sizes and locations through our exclusive listings page. For a glance at available luxury log homes, please browse through Greybeard’s luxury log homes page. And if you have a specific wish list for your newest home, please let us help you find your dream home. Buying from Greybeard is a very individualized process, and we look forward to meeting with you.
Greybeard Realty welcomes Kirstie Conner aboard in its Old Fort office. While Kirstie is new to the Greybeard Old Fort office, she is not new to Old Fort. She grew up in the area and is a graduate of Old Fort Elementary and McDowell High School. With degrees from McDowell Tech and UNC Asheville, Kirstie settled into Old Fort with her husband, Casey. As a long-term resident of the area, Kirstie remains involved with numerous civic organizations including being a planning team member of the Old Fort Community Forum, that is funded by the Kate B. Reynolds Foundation, and serving as an elected Executive Board member of the Old Fort Chamber of Commerce.
Kirstie’s previous work experience includes working in photography and movie productions and serving as a social media marketing professional as well as running a small bakery. With her NC real estate license, she states she is looking forward to showing off her hometown to potential buyers.
“With my long history in Old Fort, I am really excited to introduce Old Fort to people looking to move into western NC,” she says. “Old Fort has some incredible homes available right now, and there isn’t a better place in the world to settle down.”
When not showing real estate across the area, Kirstie enjoys scrapbooking, music, and cheering on the University of Tennessee Volunteers football program.
Kirstie joins the other 25 Greybeard Realtors who work at Greybeard Realty, which was founded by Chip Craig in 1998. In addition to its original Black Mountain office, located at 204 East State Street, Greybeard Realty has additional offices in Asheville and Old Fort. For more information, please contact Greybeard Realty at 828 669-1072 or online at greybeardrealty.com.
If you’re ready to relocate to Old Fort, please contact Kirstie. If you want to see what’s available in the Old Fort area as well as the western NC area, please look at Greybeard’s exclusive listings page. Now is a great time to take a look at available properties, and many of the available properties can be utilized as rental homes if you’re not ready to make the move full-time up this way. Greybeard Rentals can make that process very easy for you. Take a look at the rental management services page to get an idea of how simple the whole process can be.
‘Tis the season to enjoy your new home in the lovely gated community of Gateway mountain. Built in 2005, 110 Christmas Tree Lane combines natural serenity and easy accessibility, making it a great home for anyone looking to get away but still be close by.
This two-bedroom, two-bath log home has a stone, wood-burning fireplace in the cathedral-ceilinged great room and long-range mountain views. The basement has a woodstove, and, while the basement presently is unfinished, it could be completed for additional living space. Situated on 2.91 acres, this lovely home has three decks and a covered porch. Sit in the rocking chair and watch the clouds roll by or head out into Gateway for some lake fishing or hiking. And an easy 20-minute drive will have you in Black Mountain.
Gateway Mountain is a gated community with more than 3,000 acres of nature. If you would like more information about this home or any homes for sale in gated communities, please contact Greybeard Realty. There’s something very special about western NC, and here’s a chance for you to be a part of that. Contact Greybeard Realty today and get moving.
