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.

 

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For those who have been spending the winter months pondering listing their Asheville homes for sale, it is not uncommon to list in spring, just before what some have termed the "summer selling season." For Asheville, the spring and summer months are a popular time to sell due to the warmer temperatures. However, Asheville's tourist economy also tends to center around the summer months, making it the perfect season to get more eyes on your home as folks visit the area from out of town. 

If you want to sell your home quickly and for top dollar, you need a plan that goes beyond listing it on the market. Staging your home can turn it from "just another house" to a "must-have property," especially in the Asheville real estate market.

In this post, we’ll explore why home staging is a game-changer for sellers in Asheville, NC. We'll break down the fundamentals and offer tips for specific rooms in your house, giving you the tools you need to make a lasting impression on potential buyers.

Why Staging Matters in Asheville, NC

Staging a home can significantly impact its market performance. In Asheville, where the real estate market is vibrant yet competitive, staged homes can often sell faster and for higher prices. Buyers in this scenic city have high expectations, and a well-staged home can meet or even exceed those expectations. 

While it is not the most common form of buying real estate in our area, our Asheville realtors at GreyBeard Realty can often recount sales in which the buyer purchased a home without setting foot on the property. This reality can make putting your "best foot forward" with staging even more important. 

Boost Your Sales Price in Asheville

Studies consistently show that staged homes sell for more than non-staged homes. In Asheville, where properties often feature diverse architectural styles and stunning views, staging can showcase these elements to their fullest potential.

Speed Up the Sale

The time a home spends on the market can significantly affect its final selling price. Homes that linger tend to attract lower offers. Proper staging can create a sense of urgency, making buyers more likely to submit strong offers quickly.

Stand Out in Asheville's Market

With its eclectic mix of historic and modern homes, Asheville's real estate market is diverse. Staging helps your home stand out by highlighting its best features, ensuring it appeals to a wide range of buyers no matter how they are viewing the home -- whether by video tour or in person.

Key Principles of Home Staging

Declutter and Depersonalize

One of the first steps in staging is to declutter. Remove personal items, excess furniture, and anything that doesn't contribute to a clean, cohesive look. Depersonalizing the space allows potential buyers to envision themselves living there rather than feeling like they're intruding into someone else's home. 

Enhance Curb Appeal

First impressions matter. Make sure the exterior of your home is inviting and well-maintained. Simple fixes like a fresh coat of paint, trimmed bushes, and a new welcome mat can make a huge difference.

Optimize Light, Space, and Color

Use natural light to your advantage by opening curtains and blinds. Arrange furniture to create a sense of spaciousness. Neutral colors are universally appealing and can make rooms feel larger and more inviting.

Staging Tips for Different Areas of the Home

Living Areas

In the living room, arrange furniture to create a cozy yet open space that encourages conversation. Use area rugs to define spaces and add warmth. Fresh flowers or plants can bring life to the room.

Kitchens and Bathrooms

These are key areas that buyers scrutinize. They are also the areas that have likely undergone higher value updates if they have been renovated. Keep countertops clear and store away small appliances. In the bathroom, new towels, a clean shower curtain, and a few select decorative items can create a spa-like feel.

Bedrooms

Create a serene, inviting atmosphere in the bedrooms. Use neutral bedding and minimal decor. Ensure closets are tidy and not overstuffed, as ample storage space is a big selling point.

Professional Staging Services vs. DIY Staging

The Benefits of Hiring a Professional

Professional stagers have the expertise to highlight your home's strengths and appeal to potential buyers. They can provide furniture, accessories, and a fresh perspective that you might not achieve on your own. In Asheville, professional stagers are familiar with local buyer preferences and can tailor their services accordingly.

Budget-Friendly DIY Tips

If hiring a professional isn't in your budget, you can still stage your home effectively. Use what you have creatively. Rearrange furniture to improve flow, and use inexpensive items like throw pillows and mirrors to enhance the space. Decluttering costs nothing but has a massive impact.

Learn More with GreyBeard Realty

Staging is a crucial step in the home-selling process, especially in a competitive market like Asheville. By following these tips and understanding the local market, you can enhance your property’s appeal and maximize its value.

Ready to elevate your home selling game and achieve the best possible outcome? Reach out to the dedicated and experienced agents at GreyBeard Realty, who are ready to provide you with expert tips, personalized advice, and strategies tailored specifically to your unique situation. With our extensive knowledge of the local market and a commitment to your success, we are here to guide you every step of the way. Don’t hesitate—contact us today to start your journey toward a successful Asheville sale! 

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