Asheville Market Insight, December 2025

2024 ended as a weak seller’s market which led into the overarching theme for the Western North Carolina real estate market in 2025 which was a shift to a buyer’s market. The Asheville MSA, which consists of Buncombe, Haywood, Henderson and Madison Counties, had more housing inventory than anytime in the past six years. Looking at year over year stats, new listings rose nearly 20% in 2025, days on market rose more than 30% and prices were pushed ever so slightly down compared to 2024.

What led to the 2025 buyer’s market in this part of the world? A multitude of things, of course. When people flocked to Asheville and bought or refinanced with historically low rates during the pandemic, that led to many who would have sold within the next three to five years to delay or out right refuse to sell. But no one can hold out forever. People have needs and wants and eventually they upsize, downsize, make a lateral move, job transfers occur or life happens. And suddenly there’s more inventory.

Demand dictates whether or not inventory sticks around and buyers, well, they took their time in 2025. The buyer hesitation that came with a post Hurricane Helene hangover largely faded away as spring arrived but some of that hesitation was replaced by uncertainty on a macro-economic and geo-political level. In addition, interest rates never dropped quite as much as most were hoping.

All in all it was perhaps a more normalized market albeit a rare, at least as of late, buyer’s market. Of course nothing changes instantly when the calendar flips to a new year so we're likely to stay the course a bit longer however there is a sense that, with time, we'll be headed back to a balanced market and then a weak seller's market. The desire for the mountain lifestyle is intact.

Before I finish, a little perspective. If you talk with those who purchased a home in the 70's or 80's you're likely to discover they bought with rates far above what we have now, even double digit rates. But they did it and life went on. They had kids and jobs and refinanced or sold and life went on. The thing to remember is, because they made a purchase, they gained equity while life went on. So buy now, sell now, it's your call. Time, our most precious resource, will push forward indifferently.  

Looking to get in the game this year by buying or selling? Want to grow your rental portfolio or sell a property to increase liquidity? Let's talk.