Like other Asheville cabin owners, I have mixed feelings when I see that Asheville has made another top ten list. While I am reassured by these lists that I have indeed chosen to live in one of the best places on Earth, I fear that more and more people will discover what those of us who live here already know. The Asheville area is a very special place.
The most recent top ten listing comes from Barron's, the weekly business publication, and highlights the top ten places for second homes in the U.S. The article cites one real estate expert as noting that in addition to a good R&R site, investors are now on the prowl for solid investments as well. The article points out that the decline in prices of luxury homes, in these second home markets, seems to have bottomed out.
Asheville came in at #9 on the list, trailing Maui, Kiawah Island, SC, and The Hamptons which finished 1,2,3 respectively. Barron used as its criteria "gorgeous homes, spectacular views, world-class fishing and skiing, fine dining and great shopping." It also cautions that the rankings are somewhat subjective as are house styles, and that a return on investment in buying one of these homes may take a while. For Asheville, they list the median luxury home at $700,000, representing a 38% decline from peak pricing. As a bonus, the article also notes the most famous movie star who could be your potential neighbor. In the instance of Asheville, it is actress Andie MacDowell. If you are a Barron's subscriber, you can read the full article. If you want to look for your own luxury home in a top ten setting, please contact Greybeard Realty.