Jason Sandford
Jason Sandford is a reporter, writer, blogger and photographer interested in all things Asheville.
The Asheville real estate market, molten-hot for months now cooled off a bit in the third quarter of 2017, according to the Mosiac Realty newsletter, which arrived in my in-box recently.
Asheville’s real estate market has been on quite a run for the past year or so and has hit new all-time highs on several fronts through the second quarter of this year. But things are slowing down. Here’s a quick look at key numbers from the third quarter, according to Mosaic:
-The median home sale price in the city of Asheville dropped in the third quarter of 2017 to $289,000 from $300,000 in the second quarter of the year. (The median home sale price for Asheville in the third quarter of 2016 was $284,000.)
-The median home sale price in Buncombe County for third quarter 2017 was $270,000, unchanged from the second quarter of the year. (The median home sale price for Buncombe County in the third quarter of 2016 was $251,490.)
-The average days on the market for a house in Asheville was 57 days for the first three quarters of 2017. That’s virtually unchanged from 55 days in 2016.
-The average days on the market for a house in Buncombe County was 72 days for the first three quarters of this year, compared with 72 days in 2016.
-There continues to be a low inventory of homes for sale in the Asheville and Buncombe County markets. That typically leads to higher prices. It can also lead to fewer sales. Inventory levels are lower for the third quarter of this year compared to the third quarter of 2016 in both the city and county.
-In Asheville, there were 411 sales in the third quarter of 2017, compared to 411 sales in the third quarter of last year.
-In Buncombe County, there were 683 sales in the third quarter of this year, compared to 800 sales in the third quarter of last year.
