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Feb 2017: Buncombe County breaking homes sales, price records

The real estate market in Asheville and Buncombe County is setting records with home prices and sales.

RealSearch, a market analysis firm run by Don Davies, closely tracks area real estate. Data shows 2016 was a record-breaking year for real estate in Asheville. The average asking price for a home was $591,207. The old record high was in 2015 with $524,015. And 2016 also saw a record high for the number of homes sold with 4,234. The previous record was set was in 2006 with 4,120 homes sold.

Davies also reports 2016 saw a record for average home sale price at $309,443. The old record, set in 2007, was $293,508.

Beverly Hanks agent Tara Irby sold a Haw Creek home in two days after listing it for $299,000. The price for the four-bed three-bath home resonated with a market that has a tight inventory for homes that size and in that price range. Last Thursday, calls immediately came in to see the home.

“Between 4 and 5 p.m., the house hit the Multiple Listing Service. And immediately I started receiving calls to show it the next day,” Irby said. “On Friday, this house showed six times, and out of those six showings we received two offers.”

“The market’s incredibly hot,” Laura Dyer, with Dwell Realty/Keller Williams, said.

Dyer said she has been extremely busy for months, and showings did not slow down during the holidays.

“We’re thrilled in the real estate market to see prices rise. People are having to compromise where they’re looking just to get into the area because they know they want to be here.”

via by Kimberly King