Asheville Market Insight, December 2023

Greetings, friends. I hope 2024 is off to a smooth start for you. 2023 was an interesting year for real estate, one with ups and downs, stops and starts, periodic pauses and thinking things through. Inflation factored in, higher interest rates factored in but our needs never really waned.

I have to say I'm optimistic for 2024 for several reasons. On a macro scale and compared to most countries, our economy is doing relatively well. I've spoken with Engel & Völkers colleagues of mine on the other side of the world and they've remarked about how "robust" our economy is here in the states as some countries still haven't recovered from the pandemic. I also remain very bullish on Asheville and Western North Carolina and I believe demand will be very strong this year. That's good for sellers. The good news for buyers is that I believe there will (finally) be more sellers. As rates inch down, perhaps this spring, sellers who have been reluctant to let go of their low refinanced rate will finally decide to do so and buyers will be ready to rock with rates well below last year's high mark.

From downtown condos sporting Art Deco architecture or elevated mountain views to one hundred year old Victorian gems to sprawling private estates, Asheville has a beautiful variety of homes and lifestyles for everyone. If you decide to buy or list your home, please reach out to me to form a plan. With local expertise and 1,100 Engel & Völkers shops around the world, chances are I can help you no matter where you're headed.