Our Market Overview (absorption report) will be updated and posted each month. This is a snapshot of the current Market Conditions in Buncombe County. Call us! We’ll be happy to explain what all of these numbers mean to you as a Buyer or Seller. We’ve also included the number of residential transactions and average closed sales prices in both Buncombe and Henderson counties as reported to the North Carolina Mountains MLS.
Here’s a quick explanation of the Absorption Report. 3 columns that are most important: Months of Inventory, List/Sale% and Average Days on Market. To determine what type of market we are in, take a look at Months of Inventory. Six months is a balanced market, below six is a seller’s market and above six is a buyer’s market. Keep in mind, these List/Sale% and Days on Market numbers are averages. There are plenty of homes that sell the first day for more than asking price, while others sit on the market because they are overpriced or in poor condition and will often sell for quite a bit lower than asking price. So, while this is an overview of the market, each home is unique.
The average closed sales price for Buncombe county for the month of Feb 2017 was $302,488 down from January 2017 $331,677 and the same for Henderson county was $249,312 down from January $260,223.
Closed/Sold Residential Sales for Buncombe & Henderson Counties: (single family, condo & townhome properties)
Data is from North Carolina Mountains MLS.