Asheville Market Insight, January 2024

In theory, January of each new year is a chance for a fresh start. However, in real estate there's no magic reset button, just a continuation of the momentum we've had in conjunction with seasonal trends. That means we saw year over year upward movement in pricing, inventory, supply and days on market while percent of original list price received remained essentially flat. But our month to month numbers are where we see seasonal trends revealed and January is always at or near the trough for most real estate statistics. That means we're likely flirting with low points for inventory and homes sold and possibly supply and average sales price as well. What does this mean for you? It means things are about to heat up. Buyers, get your financing in order and start identifying homes before competition from other buyers makes it tougher. Sellers, prep your homes and yourselves because buyers are about to come out of hibernation. I expect an active spring and summer here in Western North Carolina.