Asheville Market Insight, August 2024

August continued the trend in increased housing inventory for Western North Carolina with total inventory of homes and month's supply hitting levels we haven't seen since the market was frozen during the beginning of the pandemic. As interest rates dropped a bit we noticed more owners listing their property and more engaged buyers who were looking for a deal. The number of days on market went up indicating buyers were taking their time to find the right property. While there were more available homes on the market we still saw increases in average and median sales price due to stable demand from locals and out of state buyers alike.