Asheville Market Insight, April 2025

Greetings and salutations. 

If you've been following the Asheville market you know things have been slowing down and the April stats proved this to be true. This is the most inventory we've seen in quite some time. In terms of month's supply, you have to go back to the fall of 2019 to find a higher number. Regarding total inventory, we had a slightly higher blip when we were locked down in the very beginning of the pandemic, otherwise we're looking at pre-pandemic times to match the current inventory. In short, the market has normalized. Of course, some of the micro and macroeconomic forces that have been at play lately are anything but normal and you add in interest rates that some buyers aren't comfortable with and you get suppressed demand. Who's to say how long this suppressed demand will last but it won't be forever. Fundamentally, Asheville is still an amazing place to live.

On that note, I actually think this is a great time to buy or sell, if you go about it the right way. Remember, historically speaking, we're still below the average interest rate of just over 7% and there will be a chance to refinance down the road. To steal a line from lenders, you want to "marry the house but date the rate." As a buyer, that just means find the home that fits your needs and that you'll love and get into it now and then refinance later on. This allows you to build equity now in a home you love. 

If you're a seller, talk to me about how to how to come out of the gates sprinting and how to stand out amongst increased competition. The details and preparation matter greatly. 

Folks, have a Happy Memorial Day and a great beginning to your summer.