ASHEVILLE REGION RESIDENTIAL SALES SUMMARY Home sales across the Asheville region continued their slowdown, largely due to the lack of inventory available throughout the region. Days on Market dropped more than 40% on 2020's results, showing the demand from homebuyers remains strong, outpacing supply in all price ranges. Not only is the lack of inventory impacting the market, but the rising sales price continues to put homes further out of reach for many first-time homebuyers. Sellers, on the other hand, are consistently getting the asking price or more for their homes, in a seller's market that is expected to continue well into 2022. Key observations from this last Quarter of 2021 are: Homes in Asheville have steadily sold for 97.2% of the asking price in this active seller's market during the fourth quarter of 2021. A slight increase from the previous quarter. Once again, fourth-quarter sales results saw inventory fall in all of the markets we serve, reaching 1.2 in Asheville, an unprecedented result. The shortest average time to have an offer accepted on a home in Asheville is 33 days, a reduction of more than 41% on 2020 4th quarter results. Closed sales are down just slightly, at -4.1% in the fourth quarter of last year–likely due to forthcoming interest rate hikes, the holiday season, and a considerable lack of inventory.
Carolina Mountain Sales Real Estate Annual Report | 2022
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