Spring is in full swing in the mountains of Western North Carolina, and the GreyBeard Realty team is back with insights on what has been happening in the real estate market in 2026 for the first few months of the year. Numbers through March reveal a continuation of a theme that was a large part of the narrative of 2025: A shift from a fortified seller’s market to a more neutral, balanced market, and, as we’ll see in some particular counties, the trends are shifting in favor of buyers.
Buncombe County and Asheville Area Market Real Estate Trends
Is Asheville and Buncombe County a buyer's or seller's market?
Real estate activity was strong in Buncombe County at the start of 2026. Pending sales through Q1 increased 7.2% year over year. March showed a 20.5% increase in pending sales compared to the same period last year. March also saw an 8% increase in new listings; however, it’s worth noting that YTD, new listings declined by 3.5%. While this provides a mixed picture, inventory levels remain higher than last year by 20.2% or 1,232 homes for sale.
Are affordability and interest rate concerns impacting the market?
Days on market trends through Q1 increased an eye-popping 42.2% year over year to an average of 91 days. Last year, that number was 64 days. Closed sales YTD decreased by.jpg)
2.1%, and the median closed price slid to $460,000, a decrease of 2.9% compared to last year. Average sales prices are still strong at $623,089 YTD, an increase of 5.7%. This opposing story for the average sales price suggests that higher-end properties are still appreciating. Overall, these numbers suggest that the real estate process is shifting towards a buyer's timetable, and they are taking their time to make purchasing decisions compared to last year.
How close to the asking price are sellers able to achieve in the current market?
For folks listing their homes for sale in Buncombe County, the percent of original list price received has declined by 2.9%, or 91.7%. Last year, the ratio sat at 94.4%, slightly more in favor of sellers. This statistic aligns with the lengthened days on market trends and suggests that buyers are having more success with negotiations than in past years. With higher inventory levels, buyers are willing to wait for the right property at the right price, and sellers will do well to price with intention.
McDowell County and Asheville Area Market Real Estate Trends
Is McDowell County a buyer's or seller's market?
Marion, Old Fort, and the whole of McDowell County are showing more profound signs of a cooling market than their neighbor, Buncombe County. YTD closed sales declined by 12.4%, and pending sales fell 9.5% compared to Q1 of last year. New listings look almost identical to last year, with 144 listings compared to 145 at the same time last year. Spring’s notoriety as the “listing season” for our region has come through with a notable 42% increase in new listings and 11.5% in closed sales. It will be interesting to see if this trend continues through the spring and summer months.
It is worth noting that McDowell County may have been a harbinger of the buyers’ market to come, as it experienced indications of softening earlier than Buncombe County in the previous year.
Are affordability and interest rate concerns impacting the market?
Of the three markets we report on each month, McDowell County leans on the more affordable side. YTD, the median sales price was $295,000, a decrease of nearly 5% from last year when it sat at $310,000. YTD days on market show a 36% increase from 77 days last year to over 3 months or 105 days this year. Buyers are moving cautiously and taking advantage of the shift in real estate trends.
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What else is notable about McDowell County?
The average sales price of $422,253 is an increase of 14%. However, it is worth noting that this is based on a small number of homes and could be skewed by a handful of high-value sales. The months’ supply of inventory is almost identical to last year, at 5.2 months vs 5.3 months at this time last year.
Burke County Area Market Real Estate Trends
Is Burke County a buyer's or seller's market?
Burke County is experiencing a contraction of supply and demand simultaneously. New listings decreased 12.1%, and closed sales have declined 13.9%. Inventory also decreased 7.4% to 212 homes for sale. Compared to Buncombe and McDowell, Burke has a much tighter supply after Q1.
What are the pricing trends in Burke County?
Median prices were dialed in at $274,900, a mild 1.5% decrease from last year’s $279,000. The average sales price decreased slightly. Burke County is currently faring better than both McDowell and Buncombe County for the percentage of the original list price ratio – 93% (up a minor .2% compared to last year). The overall transaction volume is slow, but prices appear to be stable in this market, and supply is also tighter.
What other trends are worth noting in Burke County?
Burke County hasn’t been immune to days on market increases. During Q1, Burke County days on market trends shifted to 81 days compared to 75 days last year. This is not as dramatic as Buncombe and McDowell County, but it is an increase nonetheless. Burke County is already the most affordable of the three we report on, and prices appear relatively.jpg)
stable.
Conclusion
We continue to see normalization in Buncombe, Burke, and McDowell counties. Buyers have more leverage than they did in past years. Days on market are increasing in all markets, and prices are softening. Activity levels have balanced, but demand appears to still be present. As we write this in early May, it will be interesting to see what the numbers reveal as we get deeper into the spring months and early summer. Typically, Q1 numbers capture traditional seasonality, which can impact inventory levels.
Explore more market trends on our website, or contact the real estate experts at GreyBeard Realty today with any questions.