Asheville/Buncombe County, North Carolina
Average Selling Price of Residential Properties
A 6 Month Trend Report
Basically, the Average Selling Price of a single family home is determined by the same influences that effect all market items - Supply and Demand.
The Asheville and Buncombe County supply (active listings) has been higher than normal and the demand (buyers) has been lower than normal. That has a direct effect on the pricing of the properties available.
As the chart indicates below, our Average Selling Price fluctuated since April and is now bouncing around at the lowest levels in many years. Even though that is true, we are still selling at higher Average Selling Prices than any other part of the state.
Prices are approaching the levels of late 2004 and the year of 2005, which were before our banner years.