Over the last year, monthly reports have indicated that this could be a great year for Asheville area real estate sales. And now that the 2014 year-end numbers for Buncombe County and Black Mountain have been released, statistics confirm that this last year indeed was a very positive one. In both markets, figures confirm that the steady growth has continued through the year.
Asheville area sales showed a steady increase at year's end with the number of units sold increasing 4% from 2013 to 3,577 homes sold. Total sales volume grew 8% to more than $967 million while the average price per home increased 4% to $270,376. In fact, the only declining numbers reported for the region were in "days on the market" and the "number of units on the market" which decreased by 13% to 1,489 homes. This decline illustrates the tightening of supply on the market which should lead to increase prices in the future.
Black Mountain numbers mirrored those of Buncombe County, and the numbers were even stronger for this region. The number of units sold reached 170 for the year, a 13% increase over 2013. In addition, sales volume grew to more than $39 million, a 28% increase over last year. Also, the average price per home grew 13% to $229,838, a bit lower than Buncombe County prices. And similar to the County numbers, "days on the market" decreased to pre-2010 levels and the "number of units on the market" decreased by 13%, to 95 units. Like the Buncombe County numbers, all of these are still below the peak market numbers from 2006-2007.
While these numbers are all still below the peak numbers of 2006/2007, there are signs that perhaps numbers are inching back up toward those peak numbers. In the month of December 2014 in Buncombe County, 317 homes sold. Compare that with 239 that sold that month in 2013 and the December 2006 peak of 276 homes. Sales volume for December 2014 was $94.2 million compared to $59.6 million in December 2013 and $83.6 million in December 2006. While it is difficult to draw any firm conclusions after just one month, given the positive year-end numbers and the strong growth level of December 2014, it may be that these 2014 year-end numbers are just a harbinger of the good times to come.
Greybeard Realty tracks real estate sales statistics which can be accessed at real estate statistics and trends on the website. For more information or for assistance in buying or selling a home in the Asheville area, please contact Greybeard Realty.