2024, quarter two real estate information for western North Carolina. Provided by Allen Tate/Beverly-Hanks, REALTORS®.
BUNCOMBE | HAYWOOD | HENDERSON | MADISON | MITCHELL | POLK | RUTHERFORD | TRANSYLVANIA | YANCEY | HIGHLANDS | CASHIERS
MARKET REPORT QUARTER TWO 2024
Real Estate Information for Western North Carolina
MARKET REPORT REAL ESTATE INFORMATION FOR WESTERN NORTH CAROLINA "We are encouraged by the trends we are seeing and expect that 2024 QUARTER TWO 2024
CONTENTS
Executive Summary ..................... 2–3 Community Outreach .................. 4–5 County Market Reviews ............. 6–23 Luxury Market Review ............. 24–25 Lots & Acreage Review............. 26–27 Commercial Market Review.... 28–29 New Home Communities............... 30 Mortgage Review............................. 31 Market Share................................... 32
will be yet another banner year in these beautiful mountains that we are so fortunate to call home." NEAL HANKS PRESIDENT
As we enter the “dog days of summer,” the local real estate market remains active, propelled by a continued strong interest in our mountain region’s favorable climate, abundant outdoor recreation, and world-class culinary and music scenes. Our region is long renowned for these attributes, and more and more people are experiencing a high quality of life in our region, as evidenced by the dramatic increase in air travel to and from the Asheville Regional Airport. A recent report states,“The Asheville Regional Airport is one of the fastest-growing airports in the country, and the third-busiest in North Carolina after Charlotte and Raleigh. In 2023, a record 2.25 million passengers were served. A whopping 70% of those travelers arrive here for leisure purposes.”
There is no question that the demand to live in our mountains remains strong! As you likely know, limited inventory in the region has tempered the velocity of sales during the last two years and supported a continued increase in sales prices. Those trends continued in the second quarter of 2024, although we are seeing some slight improvements. The median sales price rose by 9% compared to a year ago, to $463,395. Available home inventory has seen a significant increase over the last 12 months, growing by over 56% to 2,855 units for sale in our region. While a significant improvement, inventory remains low by historical standards and many willing home buyers continue to struggle to find a home that meets their needs and budget.
RESIDENTIAL INVENTORY FOR SALE 2014–2024, Q2 (By Quarter)
0 1000 2000 3000 4000 5000 6000 7000 8000
6,319
2,855
889
2014Q3 2014
2015Q3 2015
2016Q3 2016
2017Q3 2017
2018Q3 2018
2019Q3 2019
2020Q3 2020
2021Q3 2021
2022Q3 2022
2023Q3 2023
2014Q1
2014Q2
2014Q4
2015Q1
2015Q2
2015Q4
2016Q1
2016Q2
2016Q4
2017Q1
2017Q2
2017Q4
2018Q1
2018Q2
2018Q4
2019Q1
2019Q2
2019Q4
2020Q1
2020Q2
2020Q4
2021Q1
2021Q2
2021Q4
2022Q1
2022Q2
2022Q4
2023Q1
2023Q2
2023Q4
2024Q1
2024Q2
On the cover: Pipevine Swallowtail Butterfly: The pipevine swallowtail butterfly is found throughout North America, known for its iridescent blue-black wings and distinctive swallowtail shape. As caterpillars, they feed on toxic pipevine plants, which provide the adult butterflies with chemical defenses against predators. Their shimmering coloration also deters potential threats. This butterfly plays a crucial role in the ecosystem, serving as a pollinator in the spring and summer.
ALLENTATE.COM/WNCMARKETRESEARCHCENTER
THE REGION'S VITAL SIGNS | QUARTER TWO 2024
LIST/SELL RATIO 96%
HOMES FOR SALE 2,855 <1% DISTRESSED SALES 2023: 1,830
CLOSED DAYS ON MARKET
56 2023: 50
2023: 98%
ACTIVE DAYS ON MARKET
MEDIAN SALES PRICE $ 463,395
98
2023: $425,000
2023: <1%
2023: 105
Interest rates, which have hovered above 7% for much of the year, have also created affordability challenges for many. Recent weeks have seen some improvement, with interest rates between 6.5–7%. The average rate on the benchmark 30-year mortgage decreased by six basis points, descending to 6.89% the week ending July 11, according to Freddie Mac data. A basis point is one one-hundredth of a percentage point. Despite mortgage rates remaining elevated and fluctuating within a relatively narrow range over the past few months, many housing market experts expect rates to recede slightly in the coming months. That is assuming the Federal Reserve finally implements cuts to its benchmark interest rate. We hope these experts are correct. If rates remain below 7%, we anticipate an increase in buying activity during the balance of the year. While we are not experiencing quite as robust of a sales pace as we did a few years ago, closed sales in the region remain at very healthy levels, down 2% in units and up 10% in volume from a year ago. As we enter what has historically been the most active half of the year for real estate sales, we are encouraged by the trends we are seeing and expect that 2024 will be yet another banner year in these beautiful mountains that we are so fortunate to call home.
YEAR-TO-DATE CLOSED SALES Based on MLS data (Residential by Volume). +10%
MEDIAN SALES PRICE +9% Based on MLS data.
HOMES FOR SALE + 56% Based on MLS data.
QUARTER TWO 2024 3
CULTURE OF CARING
7
3
13 4
17
16
12
9
10
5
14
8
6
15
18
11
OFFICE LOCATIONS
15 14 13 11 12
16 17 18
5 4 3 1 2
6 7 9 8
Sapphire 2365 Highway 64 East Cashiers, NC 28717 (828) 507-3156 Saluda 38 North Main Street Saluda NC 28773 (828) 749-3504 NAI Beverly-Hanks 410 Executive Park Asheville, NC 28801 (828) 210-3940 Highlands-Downtown 295 Dillard Road Highlands, NC 28741 (828) 526-8784 Lake Lure 1518 Memorial Highway Lake Lure, NC 28746 (828) 436-5120
Walnut Cove Realty 1874 Brevard Road, Suite 125 Arden, NC 28704 (828) 684–5151 Waynesville 74 North Main Street Waynesville, NC 28786 (828) 452-5809 Wildcat Cliffs/Cashiers 5121 Cashiers Road Highlands, NC 28741 (828) 526-4525
Asheville 300 Executive Park Asheville, NC 28801 (828) 254-7221
Hendersonville 512 North Main Street Hendersonville, NC 28792 (828) 697-0515 Fletcher 4005 Hendersonville Road Fletcher, NC 28732 (828) 484-3130 Cashiers 40 Cashiers Shopping Center Cashiers, NC 28717 (800) 210-0321 Brevard, South 7737 Greenville Highway Brevard, NC 28712 (828) 877-4490 Burnsville 369 West US 19-East Burnsville, NC 28714 (828) 678-9944
Asheville, Biltmore Avenue 40 Biltmore Avenue Asheville, NC 28801 (828) 571-0744
Asheville, North 820 Merrimon Avenue Asheville, NC 28804 (828) 251-1800
Brevard, Downtown 6 East Main Street Brevard, NC 28712 (828) 877-6006 Asheville, South One Town Square Boulevard Suite 140 Asheville, NC 28803 (828) 684-8999
10
ALLENTATE.COM
HERE ARE A FEW OF OUR FAVORITES... Hundreds of Western North Carolina organizations strengthen the communities we call home. At Allen Tate/Beverly-Hanks, we believe that everyone should have the opportunity to enjoy the quality of life for which Western North Carolina has become famous. That's why making a significant difference in the communities in which we live and serve is a tenet of our company's core values and why we promote a culture of giving.
Luckily for us, agents and staff alike spend hundreds of hours participating in monthly volunteer opportunities, serving on nonprofit and city boards, and donating their time. Here are just a few ways they gave back during the second quarter of 2024.
Cheers to our summer Karma Keg!
Clients say our agents are lifesavers, and in some cases that is literally true. In June, Waynesville’s McElroy and Ellege Team hosted their 3rd annual blood drive with The Blood Connection. The donations saved 54 lives within our local community. The event was even sweeter with the accompaniment of Frozen Josie's Ice Cream Truck. Learn more at: thebloodconnection.org Saving lives one pint at a time! Every month, agents from our North Asheville office volunteer at ABCCM’s Transformation Village. Cook teams provide and serve dinner to 45–55 residents staying at the location’s transitional housing facility for homeless women, mothers with children, and veterans. Serving these incredible women is one of our favorite regular activities. Learn more at: abccm.org/ministry-services/transformation-village Serving up good times! Each quarter, we gather at a local brewery to raise money for a good cause, to be determined at the end of the night. More than 130 people came out to Trailside Brewing Co. in Hendersonville to make our most recent fundraiser a huge success! We collected $1,666 for this season’s big winner, Toys for Tots. Learn more at: toysfortots.org
QUARTER TWO 2024 5
BUNCOMBE COUNTY SALES BY PROPERTY TYPE
SINGLE-FAMILY RESIDENCE 845 2023: 817
CONDO/ TOWNHOUSE 137 2023: 152
LOTS (0–10 ACRES)
ACREAGE (10+ ACRES)
152 2023: 85
2023: 12 13
HOMES SOLD
HOMES FOR SALE
Year Over Year +25%
1
$0-99,999
25 85
$100,000-199,999
$200,000-299,999
177 190 127
$300,000-399,999
$400,000-499,999
4
$0-99,999
$500,000-599,999
7
$100,000-199,999
89 72 53 37
$600,000-699,999
51
$200,000-299,999
$700,000-799,999
113
$300,000-399,999
$800,000-899,999
146
$400,000-499,999
$900,000-999,999
115
$500,000-599,999
126 TOTAL: 982
$1,000,000+
89
$600,000-699,999
65
$700,000-799,999
MEDIAN SALES PRICE $ 510,145
44
$800,000-899,999
39
$900,000-999,999
190 TOTAL: 863
$1,000,000+
SALES PACE
Homes Sold per Month
265
229
54
Days on Market
162 2014
2024
2019
LOTS
ACREAGE
p p p q q
p q p p q
Parcels Sold
152
Parcels Sold
13
Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)
$202,323
Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)
$12,774
216 400
216 364
Months of inventory
10
Months of inventory
24
ALLENTATE.COM/WNCMARKETRESEARCHCENTER
BUNCOMBE COUNTY | QUARTER TWO 2024
LIST/SELL RATIO 97% 2023: 98%
HOMES FOR SALE 863 2023: 688
DISTRESSED SALES
CASH SALES 36% 2023: 33%
CLOSED DAYS ON MARKET 43 2023: 38
ACTIVE DAYS ON MARKET
2023: <1% <1%
93
2023: 101
$0-$99,999
$100,000-$199,999
$200,000-$299,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
q p
vw
p q p p p
Homes Sold
1
Homes Sold
25
Homes Sold
85
q q p
List/Sell Ratio
113%
List/Sell Ratio
82%
List/Sell Ratio
94%
Days on Market (Active)
NA
NA
Days on Market (Active)
64
Days on Market (Active)
64
q p
Days on Market (Closed)
4
Days on Market (Closed)
52
Days on Market (Closed)
45
vw
Months of Inventory
0
Months of Inventory
1
Months of Inventory
2
$300,000-$399,999
$400,000-$499,999
$500,000-$599,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
q q p q
p q q p p
q q p p p
Homes Sold
177
Homes Sold
190
Homes Sold
127
List/Sell Ratio
97%
List/Sell Ratio
98%
List/Sell Ratio
97%
Days on Market (Active)
94
Days on Market (Active)
73
Days on Market (Active)
77
Days on Market (Closed)
49
Days on Market (Closed)
39
Days on Market (Closed)
49
vw
Months of Inventory
2
Months of Inventory
2
Months of Inventory
3
$600,000-$699,999
$700,000-$799,999
$800,000-$899,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
p q q p p
p q q p p
p p q q q
Homes Sold
89
Homes Sold
72
Homes Sold
53
List/Sell Ratio
99%
List/Sell Ratio
99%
List/Sell Ratio
98%
Days on Market (Active)
94
Days on Market (Active)
88
Days on Market (Active)
81
Days on Market (Closed)
37
Days on Market (Closed)
40
Days on Market (Closed)
25
Months of Inventory
3
Months of Inventory
3
Months of Inventory
2
LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA
$900,000-$999,999
$1,000,000+
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
q q p q p
p p q q q
Homes Sold
37
Homes Sold
126
List/Sell Ratio
98%
List/Sell Ratio
98%
Days on Market (Active)
107
Days on Market (Active)
125
Days on Market (Closed)
47
Days on Market (Closed)
47
Months of Inventory
3
Months of Inventory
5
QUARTER TWO 2024 7
HAYWOOD COUNTY SALES BY PROPERTY TYPE
SINGLE-FAMILY RESIDENCE 222 2023: 273
CONDO/ TOWNHOUSE 16 2023: 22
LOTS (0–10 ACRES) 69 2023: 35
ACREAGE (10+ ACRES)
2023: 9 11
HOMES SOLD
HOMES FOR SALE
Year Over Year +41%
7
$0-99,999
17 45 57 41 21 23
$100,000-199,999
$200,000-299,999
$300,000-399,999
$400,000-499,999
3
$0-99,999
$500,000-599,999
11
$100,000-199,999
$600,000-699,999
25
$200,000-299,999
9 9 4
$700,000-799,999
64
$300,000-399,999
$800,000-899,999
66
$400,000-499,999
$900,000-999,999
34
$500,000-599,999
5 TOTAL: 238
$1,000,000+
31
$600,000-699,999
16
$700,000-799,999
MEDIAN SALES PRICE $ 380,750
17
$800,000-899,999
14
$900,000-999,999
36 TOTAL: 317
$1,000,000+
60 224 SALES PACE
Days on Market
72 69
Homes Sold per Month
2014
2019
2024
LOTS
ACREAGE
p p p q q
p q q q q
Parcels Sold
69
Parcels Sold
11
Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)
$77,432
Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)
$10,749
205 469
201 356
Months of inventory
19
Months of inventory
18
ALLENTATE.COM/WNCMARKETRESEARCHCENTER
HAYWOOD COUNTY | QUARTER TWO 2024
HOMES FOR SALE 317 2023: 225
DISTRESSED SALES
CLOSED DAYS ON MARKET 45 2023: 45
CASH SALES 42% 2023: 38%
LIST/SELL RATIO 95% 2023: 96%
ACTIVE DAYS ON MARKET
1%
96
2023: 1%
2023: 106
$0-$99,999
$100,000-$199,999
$200,000-$299,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
p q p q
q p q q p
q
Homes Sold
7
Homes Sold
17
Homes Sold
45
q
List/Sell Ratio
75%
List/Sell Ratio
91%
List/Sell Ratio
94%
q p p
Days on Market (Active)
61
Days on Market (Active)
83
Days on Market (Active)
69
Days on Market (Closed)
30
Days on Market (Closed)
32
Days on Market (Closed)
39
vw
Months of Inventory
1
Months of Inventory
2
Months of Inventory
2
$300,000-$399,999
$400,000-$499,999
$500,000-$599,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
q
q p q q p
q
Homes Sold
57
Homes Sold
41
Homes Sold
21
vw
q
List/Sell Ratio
96%
List/Sell Ratio
98%
List/Sell Ratio
96%
p p p
q p p
Days on Market (Active)
81
Days on Market (Active)
79
Days on Market (Active)
62
Days on Market (Closed)
38
Days on Market (Closed)
44
Days on Market (Closed)
50
Months of Inventory
3
Months of Inventory
5
Months of Inventory
5
$600,000-$699,999
$700,000-$799,999
$800,000-$899,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
BALANCED
p p p p p
q q p p p
p q p q q
Homes Sold
23
Homes Sold
9
Homes Sold
9
List/Sell Ratio
99%
List/Sell Ratio
97%
List/Sell Ratio
99%
Days on Market (Active)
110
Days on Market (Active)
167
Days on Market (Active)
111
Days on Market (Closed)
56
Days on Market (Closed)
43
Days on Market (Closed)
41
Months of Inventory
4
Months of Inventory
5
Months of Inventory
6
LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA
$900,000-$999,999
$1,000,000+
Home Values
BUYER'S MARKET
Home Values
BUYER'S MARKET
vw
q q q q p
Homes Sold
4
Homes Sold
5
q q p p
List/Sell Ratio
96%
List/Sell Ratio
90%
Days on Market (Active)
114
Days on Market (Active)
156
Days on Market (Closed)
56
Days on Market (Closed)
194
Months of Inventory
11
Months of Inventory
22
QUARTER TWO 2024 9
HENDERSON COUNTY SALES BY PROPERTY TYPE
SINGLE-FAMILY RESIDENCE 394 2023: 406
CONDO/ TOWNHOUSE 67 2023: 92
LOTS (0–10 ACRES) 66 2023: 57
ACREAGE (10+ ACRES)
2023: 8 9
HOMES SOLD
HOMES FOR SALE
Year Over Year +60%
1 9
$0-99,999
$100,000-199,999
57 90
$200,000-299,999
$300,000-399,999
112
$400,000-499,999
0
$0-99,999
61 44 24 19 15
$500,000-599,999
10
$100,000-199,999
$600,000-699,999
31
$200,000-299,999
$700,000-799,999
88
$300,000-399,999
$800,000-899,999
110
$400,000-499,999
$900,000-999,999
51
$500,000-599,999
29 TOTAL: 461
$1,000,000+
41
$600,000-699,999
34
$700,000-799,999
MEDIAN SALES PRICE $ 461,000
25
$800,000-899,999
15
$900,000-999,999
84 TOTAL: 489
$1,000,000+
94 SALES PACE
124 58
Homes Sold per Month
112
Days on Market
2014
2024
2019
LOTS
ACREAGE
q p q p q
p q q q q
Parcels Sold
66
Parcels Sold
9
Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)
$114,124
Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)
$35,250
226 485
322 242
Months of inventory
20
Months of inventory
12
ALLENTATE.COM/WNCMARKETRESEARCHCENTER
HENDERSON COUNTY | QUARTER TWO 2024
HOMES FOR SALE 489 2023: 305
LIST/SELL RATIO 97% 2023: 100%
DISTRESSED SALES
CLOSED DAYS ON MARKET 43 2023: 43
CASH SALES 37% 2023: 37%
ACTIVE DAYS ON MARKET
1%
89
2023: 0%
2023: 99
$0-$99,999
$100,000-$199,999
$200,000-$299,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
p
p
q q q p p
Homes Sold
1
Homes Sold
9
Homes Sold
57
List/Sell Ratio
85% NA
List/Sell Ratio
86% NA
List/Sell Ratio
96%
p
Days on Market (Active)
NA
NA
Days on Market (Active)
84
Days on Market (Active)
52
Days on Market (Closed)
2
NA
Days on Market (Closed)
75
NA
Days on Market (Closed)
38
q
p
Months of Inventory
0
Months of Inventory
3
Months of Inventory
2
$300,000-$399,999
$400,000-$499,999
$500,000-$599,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
q q p p p
q q p q p
q q p q p
Homes Sold
90
Homes Sold
112
Homes Sold
61
List/Sell Ratio
96%
List/Sell Ratio
98%
List/Sell Ratio
98%
Days on Market (Active)
98
Days on Market (Active)
66
Days on Market (Active)
75
Days on Market (Closed)
36
Days on Market (Closed)
37
Days on Market (Closed)
26
Months of Inventory
3
Months of Inventory
3
Months of Inventory
3
$600,000-$699,999
$700,000-$799,999
$800,000-$899,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
p q q p p
p p q p p
p q p p q
Homes Sold
44
Homes Sold
24
Homes Sold
19
List/Sell Ratio
98%
List/Sell Ratio
97%
List/Sell Ratio
97%
Days on Market (Active)
89
Days on Market (Active)
66
Days on Market (Active)
129
Days on Market (Closed)
51
Days on Market (Closed)
74
Days on Market (Closed)
71
Months of Inventory
3
Months of Inventory
4
Months of Inventory
4
LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA
$900,000-$999,999
$1,000,000+
Home Values
SELLER'S MARKET
Home Values
BUYER'S MARKET
p p q q
p q q q p
Homes Sold
15
Homes Sold
29
List/Sell Ratio
96%
List/Sell Ratio
96%
Days on Market (Active)
113
Days on Market (Active)
124
Days on Market (Closed)
64
Days on Market (Closed)
55
vw
Months of Inventory
3
Months of Inventory
9
QUARTER TWO 2024 11
MADISON COUNTY SALES BY PROPERTY TYPE
SINGLE-FAMILY RESIDENCE 68 2023: 66
CONDO/ TOWNHOUSE 1 2023: 2
LOTS (0–10 ACRES) 24 2023: 12
ACREAGE (10+ ACRES)
2023: 13 16
HOMES SOLD
HOMES FOR SALE Year Over Year -10%
1 2 7
$0-99,999
$100,000-199,999
$200,000-299,999
15 20 10
$300,000-399,999
$400,000-499,999
1
$0-99,999
$500,000-599,999
4
$100,000-199,999
4 3 4 0
$600,000-699,999
4
$200,000-299,999
$700,000-799,999
23
$300,000-399,999
$800,000-899,999
16
$400,000-499,999
$900,000-999,999
10
$500,000-599,999
3 TOTAL: 69
$1,000,000+
3
$600,000-699,999
6
$700,000-799,999
MEDIAN SALES PRICE $ 421,990
5
$800,000-899,999
3
$900,000-999,999
9 TOTAL: 84
$1,000,000+
SALES PACE
Days on Market
175
41
Homes Sold per Month
12
20
2014
2019
2024
LOTS
ACREAGE
p p p q q
p q q q q
Parcels Sold
24
Parcels Sold
16
Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)
$84,016
Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)
$8,040
301 470
99
310
Months of inventory
20
Months of inventory
9
ALLENTATE.COM/WNCMARKETRESEARCHCENTER
MADISON COUNTY | QUARTER TWO 2024
HOMES FOR SALE 84 2023: 93
LIST/SELL RATIO 95% 2023: 95%
DISTRESSED SALES
CASH SALES 38% 2023: 37%
CLOSED DAYS ON MARKET 78 2023: 75
ACTIVE DAYS ON MARKET
0%
2023: 97 130
2023: 0%
$0-$99,999
$100,000-$199,999
$200,000-$299,999
Home Values
SELLER'S MARKET
Home Values
BALANCED
Home Values
SELLER'S MARKET
vw
q q p q p
q p p q p
Homes Sold
1
Homes Sold
2
Homes Sold
7
p
List/Sell Ratio
71%
List/Sell Ratio
82%
List/Sell Ratio
97%
Days on Market (Active)
45
NA
Days on Market (Active)
289
Days on Market (Active)
108
q p
Days on Market (Closed)
73
Days on Market (Closed)
99
Days on Market (Closed)
57
Months of Inventory
3
Months of Inventory
6
Months of Inventory
2
$300,000-$399,999
$400,000-$499,999
$500,000-$599,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
q q p p p
p
p q p p q
Homes Sold
15
Homes Sold
20
Homes Sold
10
q q
List/Sell Ratio
95%
List/Sell Ratio
97%
List/Sell Ratio
95%
Days on Market (Active)
145
Days on Market (Active)
72
Days on Market (Active)
85
q q
Days on Market (Closed)
98
Days on Market (Closed)
66
Days on Market (Closed)
66
Months of Inventory
5
Months of Inventory
2
Months of Inventory
3
$600,000-$699,999
$700,000-$799,999
$800,000-$899,999
Home Values
SELLER'S MARKET
Home Values
BALANCED
Home Values
SELLER'S MARKET
q p q p q
q p p q p
p q q q q
Homes Sold
4
Homes Sold
3
Homes Sold
4
List/Sell Ratio
96%
List/Sell Ratio
102%
List/Sell Ratio
97%
Days on Market (Active)
68
Days on Market (Active)
134
Days on Market (Active)
155
Days on Market (Closed)
90
Days on Market (Closed)
8
Days on Market (Closed)
62
Months of Inventory
2
Months of Inventory
6
Months of Inventory
4
LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA
$900,000-$999,999
$1,000,000+
Home Values
SELLER'S MARKET
Home Values
BUYER'S MARKET
p p p p q
Homes Sold
NA
NA
Homes Sold
3
List/Sell Ratio
NA
NA
List/Sell Ratio
89%
q
Days on Market (Active)
140
Days on Market (Active)
189
Days on Market (Closed)
NA
NA
Days on Market (Closed)
209
q
Months of Inventory
<1
Months of Inventory
9
QUARTER TWO 2024 13
POLK COUNTY SALES BY PROPERTY TYPE
SINGLE-FAMILY RESIDENCE 70 2023: 65
CONDO/ TOWNHOUSE 5 2023: 4
LOTS (0–10 ACRES)
ACREAGE (10+ ACRES)
26
9
2023: 17
2023: 4
HOMES SOLD
HOMES FOR SALE
Year Over Year +26%
1 2
$0-99,999
$100,000-199,999
12 19
$200,000-299,999
$300,000-399,999
9 8 2 3 6 4
$400,000-499,999
0
$0-99,999
$500,000-599,999
1
$100,000-199,999
$600,000-699,999
6
$200,000-299,999
$700,000-799,999
9
$300,000-399,999
$800,000-899,999
20
$400,000-499,999
$900,000-999,999
11
$500,000-599,999
9 TOTAL: 75
$1,000,000+
10
$600,000-699,999
8
$700,000-799,999
MEDIAN SALES PRICE $ 450,000
8
$800,000-899,999
7
$900,000-999,999
33 TOTAL: 113
$1,000,000+
SALES PACE
323
Days on Market
82
Homes Sold per Month
12
22
2014
2019
2024
LOTS
ACREAGE
p p p p p
p q q q q
Parcels Sold
26
Parcels Sold
9
Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)
$101,111
Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)
$15,458
231 329
171 316
Months of inventory
21
Months of inventory
17
ALLENTATE.COM/WNCMARKETRESEARCHCENTER
POLK COUNTY | QUARTER TWO 2024
HOMES FOR SALE 113 2023: 90
DISTRESSED SALES
LIST/SELL RATIO 93% 2023: 91%
CASH SALES 43% 2023: 33%
CLOSED DAYS ON MARKET 86 2023: 58
ACTIVE DAYS ON MARKET
0%
132
2023: 0%
2023: 153
$0-$99,999
$100,000-$199,999
$200,000-$299,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
p
p p q q p
q q q q
Homes Sold
1
Homes Sold
2
Homes Sold
12
List/Sell Ratio
86% NA
List/Sell Ratio
82%
List/Sell Ratio
92%
Days on Market (Active)
NA
NA
Days on Market (Active)
23
Days on Market (Active)
47
p q
Days on Market (Closed)
414
Days on Market (Closed)
91
Days on Market (Closed)
109
vw
Months of Inventory
0
Months of Inventory
2
Months of Inventory
2
$300,000-$399,999
$400,000-$499,999
$500,000-$599,999
Home Values
SELLER'S MARKET
Home Values
BUYER'S MARKET
Home Values
SELLER'S MARKET
p q q p q
vw
q
Homes Sold
19
Homes Sold
9
Homes Sold
8
p q q p
p
List/Sell Ratio
93%
List/Sell Ratio
100%
List/Sell Ratio
98%
q q p
Days on Market (Active)
34
Days on Market (Active)
61
Days on Market (Active)
104
Days on Market (Closed)
53
Days on Market (Closed)
4
Days on Market (Closed)
56
Months of Inventory
1
Months of Inventory
7
Months of Inventory
4
$600,000-$699,999
$700,000-$799,999
$800,000-$899,999
Home Values
BUYER'S MARKET
Home Values
BUYER'S MARKET
Home Values
BUYER'S MARKET
q
p q q p q
q q q q q
Homes Sold
2
Homes Sold
2
Homes Sold
3
p q p p
List/Sell Ratio
101%
List/Sell Ratio
101%
List/Sell Ratio
97%
Days on Market (Active)
269
Days on Market (Active)
269
Days on Market (Active)
286
Days on Market (Closed)
207
Days on Market (Closed)
207
Days on Market (Closed)
109
Months of Inventory
15
Months of Inventory
15
Months of Inventory
8
LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA
$900,000-$999,999
$1,000,000+
Home Values
SELLER'S MARKET
Home Values
BUYER'S MARKET
p
p p q q q
Homes Sold
6
Homes Sold
9
List/Sell Ratio
88% NA
List/Sell Ratio
$479,222
p
Days on Market (Active)
152
Days on Market (Active)
171
Days on Market (Closed)
145
NA
Days on Market (Closed)
316
p
Months of Inventory
4
Months of Inventory
17
QUARTER TWO 2024 15
RUTHERFORD COUNTY SALES BY PROPERTY TYPE
CONDO/ TOWNHOUSE 2 2023: 12
SINGLE-FAMILY RESIDENCE 207 2023: 189
LOTS (0–10 ACRES) 89 2023: 49
ACREAGE (10+ ACRES)
23
2023: 19
HOMES SOLD
HOMES FOR SALE
Year Over Year +69%
14 50 50 37 24
$0-99,999
$100,000-199,999
$200,000-299,999
$300,000-399,999
$400,000-499,999
9
$0-99,999
9 6 7 3 2
$500,000-599,999
34
$100,000-199,999
$600,000-699,999
49
$200,000-299,999
$700,000-799,999
44
$300,000-399,999
$800,000-899,999
45
$400,000-499,999
$900,000-999,999
24
$500,000-599,999
7 TOTAL: 209
$1,000,000+
20
$600,000-699,999
11
$700,000-799,999
MEDIAN SALES PRICE $ 275,000
6
$800,000-899,999
6
$900,000-999,999
21 TOTAL: 269
$1,000,000+
SALES PACE
Days on Market
24 157
60 60
Homes Sold per Month
2014
2019
2024
LOTS
ACREAGE
p p p p q
p q p q q
Parcels Sold
89
Parcels Sold
23
Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)
$50,231
Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)
$9,154
233 392
160 299
Months of inventory
17
Months of inventory
9
ALLENTATE.COM/WNCMARKETRESEARCHCENTER
RUTHERFORD COUNTY | QUARTER TWO 2024
HOMES FOR SALE 269 2023: 159
DISTRESSED SALES
LIST/SELL RATIO 93% 2023: 95%
CASH SALES 36% 2023: 33%
CLOSED DAYS ON MARKET 65 2023: 44
ACTIVE DAYS ON MARKET
2%
89
2023:1%
2023: 96
$0-$99,999
$100,000-$199,999
$200,000-$299,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
q
vw
p q q p p
Homes Sold
14
Homes Sold
50
Homes Sold
50
vw
q p p p
List/Sell Ratio
81%
List/Sell Ratio
92%
List/Sell Ratio
93%
p q p
Days on Market (Active)
107
Days on Market (Active)
93
Days on Market (Active)
61
Days on Market (Closed)
62
Days on Market (Closed)
57
Days on Market (Closed)
75
Months of Inventory
2
Months of Inventory
2
Months of Inventory
3
$300,000-$399,999
$400,000-$499,999
$500,000-$599,999
Home Values
SELLER'S MARKET
Home Values
BALANCED
Home Values
BUYER'S MARKET
q q p p p
p p q q p
q q q p p
Homes Sold
37
Homes Sold
24
Homes Sold
9
List/Sell Ratio
93%
List/Sell Ratio
97%
List/Sell Ratio
97%
Days on Market (Active)
96
Days on Market (Active)
87
Days on Market (Active)
73
Days on Market (Closed)
68
Days on Market (Closed)
36
Days on Market (Closed)
23
Months of Inventory
4
Months of Inventory
6
Months of Inventory
8
$600,000-$699,999
$700,000-$799,999
$800,000-$899,999
Home Values
BUYER'S MARKET
Home Values
SELLER'S MARKET
Home Values
BALANCED
p q p p p
p q p p q
p
Homes Sold
6
Homes Sold
7
Homes Sold
3
q
List/Sell Ratio
96%
List/Sell Ratio
92%
List/Sell Ratio
97%
p p q
Days on Market (Active)
82
Days on Market (Active)
124
Days on Market (Active)
118
Days on Market (Closed)
106
Days on Market (Closed)
119
Days on Market (Closed)
141
Months of Inventory
10
Months of Inventory
5
Months of Inventory
6
LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA
$900,000-$999,999
$1,000,000+
Home Values
BUYER'S MARKET
Home Values
BUYER'S MARKET
vw
p q q p p
Homes Sold
2
Homes Sold
7
q p p p
List/Sell Ratio
96%
List/Sell Ratio
95%
Days on Market (Active)
169
Days on Market (Active)
103
Days on Market (Closed)
11
Days on Market (Closed)
90
Months of Inventory
9
Months of Inventory
9
QUARTER TWO 2024 17
TRANSYLVANIA COUNTY SALES BY PROPERTY TYPE CONDO/ TOWNHOUSE
SINGLE-FAMILY RESIDENCE 123 2023: 118
LOTS (0–10 ACRES) 49 2023: 34
ACREAGE (10+ ACRES)
14
5
2023: 10
2023: 2
HOMES SOLD
HOMES FOR SALE
Year Over Year +52%
1 2
$0-99,999
$100,000-199,999
14 24 24 17 11 11
$200,000-299,999
$300,000-399,999
$400,000-499,999
0
$0-99,999
$500,000-599,999
2
$100,000-199,999
$600,000-699,999
12
$200,000-299,999
$700,000-799,999
21
$300,000-399,999
7 5
$800,000-899,999
20
$400,000-499,999
$900,000-999,999
29
$500,000-599,999
21 TOTAL: 137
$1,000,000+
13
$600,000-699,999
10
$700,000-799,999
MEDIAN SALES PRICE $ 520,000
11
$800,000-899,999
6
$900,000-999,999
45 TOTAL: 169
$1,000,000+
SALES PACE
Days on Market
32 240
40 68
Homes Sold per Month
2014
2024
2019
LOTS
ACREAGE
p p q q q
vw
Parcels Sold
49
Parcels Sold
5
q q q q
Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)
$102,336
Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)
$10,649
278 565
318 343
Months of inventory
15
Months of inventory
22
ALLENTATE.COM/WNCMARKETRESEARCHCENTER
TRANSYLVANIA COUNTY | QUARTER TWO 2024
HOMES FOR SALE 169 2023: 111
CASH SALES 53% 2023: 40%
LIST/SELL RATIO 95% 2023: 96%
DISTRESSED SALES
CLOSED DAYS ON MARKET 62 2023: 51
ACTIVE DAYS ON MARKET
0%
93
2023: 0%
2023: 107
$0-$99,999
$100,000-$199,999
$200,000-$299,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
vw
q q q p p
q q p p p
Homes Sold
1
Homes Sold
2
Homes Sold
14
q
List/Sell Ratio
64%
List/Sell Ratio
84%
List/Sell Ratio
90%
Days on Market (Active)
NA
NA
Days on Market (Active)
18
Days on Market (Active)
62
p q
Days on Market (Closed)
159
Days on Market (Closed)
68
Days on Market (Closed)
50
Months of Inventory
0
Months of Inventory
3
Months of Inventory
3
$300,000-$399,999
$400,000-$499,999
$500,000-$599,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
q q q q p
p
q p q q p
Homes Sold
24
Homes Sold
24
Homes Sold
17
vw
List/Sell Ratio
93%
List/Sell Ratio
95%
List/Sell Ratio
98%
q p p
Days on Market (Active)
88
Days on Market (Active)
82
Days on Market (Active)
77
Days on Market (Closed)
49
Days on Market (Closed)
76
Days on Market (Closed)
35
Months of Inventory
3
Months of Inventory
3
Months of Inventory
5
$600,000-$699,999
$700,000-$799,999
$800,000-$899,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
vw
p q p p q
q q p p p
Homes Sold
11
Homes Sold
11
Homes Sold
7
p p q p
List/Sell Ratio
98%
List/Sell Ratio
96%
List/Sell Ratio
99%
Days on Market (Active)
77
Days on Market (Active)
90
Days on Market (Active)
76
Days on Market (Closed)
7
Days on Market (Closed)
74
Days on Market (Closed)
11
Months of Inventory
4
Months of Inventory
3
Months of Inventory
5
LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA
$900,000-$999,999
$1,000,000+
Home Values
SELLER'S MARKET
Home Values
BALANCED
p
p p q p q
Homes Sold
5
Homes Sold
21
p p q
List/Sell Ratio
95%
List/Sell Ratio
98%
Days on Market (Active)
172
Days on Market (Active)
121
Days on Market (Closed)
42
Days on Market (Closed)
126
vw
Months of Inventory
4
Months of Inventory
6
QUARTER TWO 2024 19
YANCEY & MITCHELL COUNTIES SALES BY PROPERTY TYPE
SINGLE-FAMILY RESIDENCE 75 2023: 79
CONDO/ TOWNHOUSE 10 2023: 10
LOTS (0–10 ACRES) 28 2023: 7
ACREAGE (10+ ACRES)
2023: 3 13
Not all transactions in Yancey and Mitchell Counties may be entered into Canopy MLS.
HOMES SOLD
HOMES FOR SALE
Year Over Year +13%
3
$0-99,999
10 28 14
$100,000-199,999
$200,000-299,999
$300,000-399,999
9 8 5 3 2 1
$400,000-499,999
2
$0-99,999
$500,000-599,999
11
$100,000-199,999
$600,000-699,999
26
$200,000-299,999
$700,000-799,999
24
$300,000-399,999
$800,000-899,999
24
$400,000-499,999
$900,000-999,999
22
$500,000-599,999
2 TOTAL: 85
$1,000,000+
18
$600,000-699,999
12
$700,000-799,999
MEDIAN SALES PRICE $ 301,000
8
$800,000-899,999
6
$900,000-999,999
27 TOTAL: 180
$1,000,000+
SALES PACE
92
Days on Market
11 55
23
Homes Sold per Month
2014
2019
2024
LOTS
ACREAGE
q p q p
p
Parcels Sold
28
Parcels Sold
13
q q q q
Avg Sales Price (Per Lot) Days on Market (closed) Days on Market (active)
$60,489
Avg Sales Price (Per Acre) Days on Market (closed) Days on Market (active)
$7,420
148 398
148 242
vw
Months of inventory
26
Months of inventory
15
ALLENTATE.COM/WNCMARKETRESEARCHCENTER
YANCEY & MITCHELL COUNTIES | QUARTER TWO 2024
HOMES FOR SALE 180 2023: 159
DISTRESSED SALES
CASH SALES 39% 2023: 40%
LIST/SELL RATIO 94% 2023: 92%
CLOSED DAYS ON MARKET 87 2023: 86
ACTIVE DAYS ON MARKET
1%
111
2023: 0%
2023: 123
$0-$99,999
$100,000-$199,999
$200,000-$299,999
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
Home Values
SELLER'S MARKET
q
q p p q p
p q p p q
Homes Sold
3
Homes Sold
10
Homes Sold
28
p p q p
List/Sell Ratio
82%
List/Sell Ratio
89%
List/Sell Ratio
94%
Days on Market (Active)
204
Days on Market (Active)
106
Days on Market (Active)
121
Days on Market (Closed)
123
Days on Market (Closed)
73
Days on Market (Closed)
76
Months of Inventory
2
Months of Inventory
3
Months of Inventory
3
$300,000-$399,999
$400,000-$499,999
$500,000-$599,999
Home Values
SELLER'S MARKET
Home Values
BUYER'S MARKET
Home Values
BUYER'S MARKET
q
vw
vw
Homes Sold
14
Homes Sold
9
Homes Sold
8
vw
p p q p
p p p p
List/Sell Ratio
94%
List/Sell Ratio
98%
List/Sell Ratio
98%
p q
Days on Market (Active)
154
Days on Market (Active)
68
Days on Market (Active)
84
Days on Market (Closed)
85
Days on Market (Closed)
29
Days on Market (Closed)
107
vw
Months of Inventory
5
Months of Inventory
8
Months of Inventory
8
$600,000-$699,999
$700,000-$799,999
$800,000-$899,999
Home Values
BUYER'S MARKET
Home Values
BUYER'S MARKET
Home Values
BUYER'S MARKET
vw
p
q p p p p
Homes Sold
5
Homes Sold
3
Homes Sold
2
q p p p
vw
List/Sell Ratio
94%
List/Sell Ratio
100%
List/Sell Ratio
93%
p p q
Days on Market (Active)
113
Days on Market (Active)
80
Days on Market (Active)
78
Days on Market (Closed)
111
Days on Market (Closed)
10
Days on Market (Closed)
178
Months of Inventory
11
Months of Inventory
12
Months of Inventory
12
LEGEND: Change from 2023 data INCREASE: p DECREASE: q NO CHANGE: vw INSUFFICIENT SALES DATA: NA
$900,000-$999,999
$1,000,000+
Home Values
BUYER'S MARKET
Home Values
BUYER'S MARKET
vw
vw
Homes Sold
1
Homes Sold
2
p p q p
p p p p
List/Sell Ratio
100%
List/Sell Ratio
94%
Days on Market (Active)
70
Days on Market (Active)
150
Days on Market (Closed)
3
Days on Market (Closed)
438
Months of Inventory
18
Months of Inventory
41
QUARTER TWO 2024 21
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