Town And Mountain Realty's 3rd Quarter 2020 Western North Carolina Real Estate Market Report

townandmountainrealty

Town and Mountain Realty was established in 2002 as a local, family owned real estate company. Over the years, we’ve grown to become one of the most successful locally-owned companies in the Greater Asheville and Western North Carolina area. Since our founding, Town and Mountain Realty has assisted Buyer and Seller Clients with over 4,640 real estate transactions (including Residential Homes, Land, and Commercial properties) totaling over $1.1 Billion in sales.

Town and Mountain’s primary focus is on Residential Real Estate brokerage. In 2019, we closed over 360 Residential transactions, topping $105,000,000 in sales placing us in the top 3% of all area real estate firms.

No matter what your real estate needs are, Town and Mountain’s experienced professional agents are ready, willing, and able to give you excellent service. We’re big enough to have all the resources you need, while still providing the personalized one-on-one service you expect.

The report below will focus on Single-Family, site-built home sales. This type of residential housing makes up the vast majority of all residential sales in our area. Buncombe County saw a total of 4,359 residential properties sold in 2019, 75% of which were Single Family, site-built homes.

It includes individual reports for the City of Asheville, Buncombe County, Haywood County, Henderson County, Madison County, & Transylvania County. Each quarter we will have a spotlight area highlighted. For the 3rd quarter of 2020; our spotlight area is Weaverville!

Our report is intended to give you a basic overview of the recent trends in our real estate market. It does not address undeveloped land sales, multi-family homes, or commercial properties, and it should not be used to determine the value of any individual property.

For those questions or any of your real estate needs, we would love for you to contact one of our professional and experienced agents who would be happy to help you and prepare a free market analysis specifically for your property!

Quarterly

Market Report

www.townandmountain.com 828.232.2879


Welcome to Town and Mountain Realty’s

Quarterly Real Estate Market Report!

Town and Mountain Realty was established in 2002 as a local, family owned real estate company. Over

the years, we’ve grown to become one of the most successful locally-owned companies in the Greater

Asheville and Western North Carolina area. Since our founding, Town and Mountain Realty has assisted

Buyer and Seller Clients with over 4,640 real estate transactions (including Residential Homes, Land, and

Commercial properties) totaling over $1.1 Billion in sales.

Town and Mountain’s primary focus is on Residential Real Estate brokerage. In 2019, we closed over 360

Residential transactions, topping $105,000,000 in sales placing us in the top 3% of all area real estate firms.

No matter what your real estate needs are, Town and Mountain’s experienced professional agents are

ready, willing, and able to give you excellent service. We’re big enough to have all the resources you need,

while still providing the personalized one-on-one service you expect.

The individual report for each county

(and several municipalities) will have

graphs for quarterly Median List Price

versus Median Sold Price compared to

the total amount of homes sold.

All of the data used in this report comes from our Regional Board of Realtors Multiple

Listing Service database. While this information doesn’t include all of the property sales and

transfers in our area, we feel it provides the best, and most comprehensive and accurate

data for evaluating and understanding real estate market trends.

This report will focus on Single-Family, site-built home sales. This type of residential

housing makes up the vast majority of all residential sales in our area. Buncombe County

saw a total of 4,359 residential properties sold in 2019, 75% of which were Single Family,

site-built homes.

Off Frame Modular 4%

Manufactured 5%

Condos/Townhomes 15%

These graphs will show that even in an

appreciating market, prices will vary

On Frame Modular 1%

throughout the year. Peak median sale

price quarters are usually followed by

one or two quarters of a decline in prices

before they start going up again.

Appreciation is generallya “two steps

forward, one step back” process.

There are also tables showing annual data for the past 3 years.

Site Built 75%

This report is intended to give you a basic overview of the recent trends in our real estate market. It does not address

undeveloped land sales, multi-family homes, or commercial properties, and it should not be used to determine the

value of any individual property. For those questions, we suggest you contact one of our professional and

experienced agents who would be happy to prepare a free market analysis specifically for your property!


ASHEVILLE

( Within City Limits )

450000

400000

List Price VS. Sold Price

350

300

350000

300000

250000

200000

150000

250

200

150

100

50

Number of Homes Sold

100000

Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

Median List Price Median Sold Price Number of Homes Sold

0

70

60

Median Days on Market by Price Range

50

46

53

50

53

40

30

29

27

20

10

0

0-$250,000 $250,000-$400,000 $400,000-600,000 $600,000-$800,000 $800,000-$1,000,000 $1,000,001+

2019 Median Days on Market

Median List Price | Median Sale Price | Average Price/Sq. Ft. | Median Days on Market | # Newly Listed Homes | # Sold Homes

2017

2018

$355,000 $320,500 $204 22 Days 1,416 1,061

$364,000 2% $330,000

3%

$212

4%

24 Days

8%

1,351 -5% 988 -7%

2019

$350,000 -4% $325,004 -2% $217 2% 33 Days 27% 1,417 5% 1,066

7%


BUNCOMBE COUNTY

( Not Including City of Asheville )

450000

List Price VS. Sold Price

700

400000

600

350000

300000

250000

200000

500

400

300

200

Number of Homes Sold

150000

100

100000

Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

Median List Price Median Sold Price Number of Homes Sold

0

140

120

Median Days on Market by Price Range

119

108

100

80

60

40

24

26

34

29

20

0

0-$250,000 $250,000-$400,000 $400,000-600,000 $600,000-$800,000 $800,000-$1,000,000 $1,000,001+

2019 Median Days on Market

Median List Price | Median Sale Price | Average Price/Sq. Ft. | Median Days on Market | # Newly Listed Homes | # Sold Homes

2017

2018

2019

$347,000 $291,000 $170 24 Days 2,919 2,140

$359,900 4% $316,000 8% $185 8% 27 Days 11% 2,945 1%

2,047 -5%

$365,000 1% $327,250 3% $187 1% 29 Days 7% 3,083 4% 2,240 9%


Spotlight Area

Weaverville

450000

30

400000

350000

300000

250000

200000

150000

25

20

15

10

5

Number of Homes Sold

100000

Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

Median List Price Median Sold Price Number of Homes Sold

0

140

120

Median Days on Market by Price Range

129

100

80

60

40

20

38

25

37

14

0

0-$250,000 $250,000-$400,000 $400,000-600,000 $600,000-$800,000 $800,000-$1,000,000

2019 Median Days on Market

Median List Price | Median Sale Price | Average Price/Sq. Ft. | Median Days on Market | # Newly Listed Homes | # Sold Homes

2017

2018

2019

$305,950 $285,000 $178 43 Days 110 95

$339,000 11% $310,000 9% $196 10% 23 Days

-47%

133 21%

77

$325,000

-4% -0.4%

$308,800 $204 4% 36 Days 57% 151 14%

117

-19%

52%


HENDERSON COUNTY

400000

350000

300000

250000

200000

150000

600

500

400

300

200

100

Number of Homes Sold

100000

Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

Median List Price Median Sold Price Number of Homes Sold

0

Median List Price | Median Sale Price | Average Price/Sq. Ft. | Median Days on Market | # Newly Listed Homes | # Sold Homes

2017

2018

$299,000 $260,000 $143 28 Days 1,907 1,504

$319,000 6% $280,750 7% $152 6% 23 Days 2,091 9% 1,552 3%

-22%

2019

$329,000 3% $299,000 6% $202 25% 27 Days 15% 2,155 3%

1,527

-2%

350000

HAYWOOD COUNTY

400

300000

250000

200000

150000

100000

Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

Median List Price Median Sold Price Number of Homes Sold

350

300

250

200

150

100

50

0

Number of Homes Sold

Median List Price | Median Sale Price | Average Price/Sq. Ft. | Median Days on Market | # Newly Listed Homes | # Sold Homes

2017

2018

2019

$249,900 $203,859 $126 52 Days 1,259 958

$258,056 3% $221,550 8% $138 9% 39 Days

-33%

1,236

-2%

929 -3%

$265,000 3% $237,700 7% $147 6% 40 Days 3% 1,304 5% 975 5%


MADISON COUNTY

450000

400000

350000

300000

250000

200000

150000

80

70

60

50

40

30

20

10

Number of Homes Sold

100000

Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

Median List Price Median Sold Price Number of Homes Sold

0

Median List Price | Median Sale Price | Average Price/Sq. Ft. | Median Days on Market | # Newly Listed Homes | # Sold Homes

2017

2018

$279,000 $225,000 $141 74 Days 272 192

$285,000 2% $239,000 6%

$150 7% 6% 58 Days 270 167

-28%

-1% -15%

2019

$324,900 12%

$273,100 12% 6% $170 12% 6% 87 Days 33% 299 12% 176

TRANSYLVANIA COUNTY

5%

450000

250

400000

350000

300000

250000

200000

150000

200

150

100

50

Number of Homes Sold

100000

Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

Median List Price Median Sold Price Number of Homes Sold

0

Median List Price | Median Sale Price | Average Price/Sq. Ft. | Median Days on Market | # Newly Listed Homes | # Sold Homes

2017

$309,450 $267,000 $145 78 Days 770 541

2018

2019

$326,000 5% $270,000 1% $161 10% 69 Days

-13%

756 -2% 510

$346,750 6% $300,000 10% $164 2% 54 Days

-28%

732 -3% 540

-6%

6%


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