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% increase in pending sales look impressive at first glance, the increase is attributed to Hurricane Helene's impact on historical data. Many of the September 2024 pending sales were eventually withdrawn or didn't close because of Helene, causing historical data to show fewer pending sales than what first appears for September's data.

Buncombe County and Asheville Area Market Real Estate Trends

Is the Buncombe County and Asheville area market a buyer's or seller’s market?

The most notable change that we’re seeing in Buncombe County is a change in inventory, up an eye-popping 59.3% with 1,711 properties on the market. Months supply is up by 64.1% to 6.4 months. The increasing supply, along with days on market and pricing trends, indicate a more decisive, balanced market in which buyers have more negotiating power. 

What are the pricing trends for the Buncombe County and Asheville area market as of Q3 in 2025?

Pricing reflects the cooling market as the September median sales price dropped 7.8% to $475,000. YTD figures show a bit rosier picture with the median price at $491,000, up 2.2%. New listings were up 31.9% in September, and closed sales were down 5.7% for the year. Another indication of the cooling market is the days on market, which reveals that homes are now averaging 69 days on the market – a 40.8% increase.

How close is the sales price to the list price in the Buncombe County and Asheville area market?

This time last year, sellers were receiving 94.3% of their list price in the actual sales price. However, the sellers’ sales price to list price ratio is now 91.2%. In addition, the time it takes from listing a home for sale to closing has increased 21.7% – currently averaging 112 days. 

McDowell County and Asheville Area Market Real Estate Trends

Is the McDowell County and Asheville area market a buyer's or seller’s market?

As has been the case in past years, McDowell County’s real estate market has mirrored some of its neighboring counties' trends. For example, new listings increased by 63.3 % compared to September 2024, from 49 properties to 80 properties. Though it is worth noting that Helene’s occurrence in September 2024 provided a temporary shock to the market. Closed sales have increased by 60.9%. 

Further, the month’s supply of inventory increased from 5.2 to 6.9 months, which is a 32.7% increase. We are seeing a lot of evidence of buyers having much more negotiating power than they did in past years.

What do pricing trends look like in McDowell County?

The median sales price increased to $273,000 – a small 5% increase. However, when we look at the average sales price, a more robust 68.5% increase occurred, bringing the average sales price to $463,475. This was likely the result of a handful of higher-end home sales rather than a pricing trend that reflects the collective market. New listings are up 22.3% 

How close is the sales price to the list price in the McDowell County market?

Sellers received 91.3% of their original list price compared to 94.2% last year. 

 

Burke County Area Market Real Estate Trends

Is the Burke County market a buyer's or seller’s market?

September’s numbers show that the market is cooling in Burke County as well, but the data is a bit mixed. New listings increased by 12% compared to September 2024. Closed sales declined by 7.7%. YTD sales are showing signs of stability with a 1.5% decrease, but other key indicators, such as shifts in days on the market and percent of the original list price stats, are showing a continued transition to buyers having more negotiating power, though the shift appears to be more moderate compared to Buncombe and McDowell County.

What do pricing trends look like in Burke County?

The median sales price decreased slightly by 1.9% to $257,450. However, if we look at YTD trends, we see a 7% increase to $274,000. Days on market increased by 30.8% and an even more profound increase of 47.5% YTD, to 59 days on market. The timeline between listing homes for sale to the close date is up 26.6% YTD to 100 days. 

How close is the sales price to the list price in the Burke County market?

The ratio of sales price to list price is slightly better in Burke County compared to McDowell and Buncombe Counties. However, sellers are still seeing a decline compared to last year. In September, Burke County sellers saw a 93.3% sales price compared to the original list price.