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Town and Mountain Realty's June 2022 Asheville and Western North Carolina Real Estate Market Report

own 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 5,100 real estate transactions (including Residential Homes, Land, and Commercial properties) totaling over $1.3 Billion in sales. Town and Mountain’s primary focus is on Residential Real Estate brokerage. In 2020, we closed 379 transactions, topping $119,500,000 in sales placing us in the top 3% of all real estate firms in our market area. 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. Check out our market report and please feel free to reach out with any questions you have. 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! Our report includes Asheville, Buncombe County, Haywood County, Henderson County, Madison County and Transylvania County.

own 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 5,100 real estate transactions (including Residential Homes, Land, and Commercial properties) totaling over $1.3 Billion in sales.

Town and Mountain’s primary focus is on Residential Real Estate brokerage. In 2020, we closed 379 transactions, topping $119,500,000 in sales placing us in the top 3% of all real estate firms in our market area.

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.

Check out our market report and please feel free to reach out with any questions you have. 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! Our report includes Asheville, Buncombe County, Haywood County, Henderson County, Madison County and Transylvania County.

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June 2022

Market Report

WWW.TOWNANDMOUNTAIN.COM 828.232.2879


ASHEVILLE REGION*

Based on information from the Canopy MLS for the period June 1 through 30.

*The Asheville Region report includes the counties of Buncombe, Burke, Haywood,

Henderson, Jackson, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania and

Yancey composed of single-family properties, townhomes and condominiums combined. Data

is refreshed regularly to capture cha nges in market activity. Figures shown may be different

than previously reported. Percent changes are calculated using rounded figures

JUNE 2022

"Rising inflation, soaring home prices, and increased mortgage interest rates have combined to cause a

slowdown in the U.S. housing market. To help quell inflation, which reached 8.6% as of last measure in May,

the Federal Reserve raised interest rates by three quarters of a percentage point in June, the largest interest

rate hike since 1994. Higher prices, coupled with 30-year fixed mortgage rates approaching 6%, have

exacerbated affordability challenges and rapidly cooled demand, with home sales and mortgage applications

falling sharply from a year ago.

New Listings were down in the Asheville region by 5.5 percent to 1,604. Pending Sales decreased 4.7

percent to 1,178. Inventory shrank 18.5 percent to 1,960 units. Prices moved higher as Median Sales Price

was up 14.7 percent to $399,000. Days on Market decreased 36.4 percent to 21. Months Supply of Inventory

was down 15.0 percent to 1.7 months, indicating that demand increased relative to supply.

With monthly mortgage payments up more than 50% compared to this time last year, the rising costs of

homeownership have sidelined many prospective buyers. Nationally, the median sales price of existing

homes recently exceeded $400,000 for the first time ever, a 15% increase from the same period a year ago,

according to the National Association of REALTORS®. As existing home sales continue to soften

nationwide, housing supply is slowly improving, with inventory up for the second straight month. In time,

price growth is expected to moderate as supply grows; for now, however, inventory remains low, and

buyers are feeling the squeeze of higher prices all around."








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