Real Estate Market Update for the Asheville, NC Area
July 19, 2026
We’re over halfway through July, and it sure feels like summer! We’ve had some hot days, but evenings and mornings have been absolutely perfect for dining outside, enjoying morning coffee on the porch, or just taking the dog for a walk. We sure do love summer in the Blue Ridge Mountains!
Note: The numbers below (with the exception of the mortgage rate chart) are through May. In the graphs below, the Asheville MSA (Metropolitan Statistical Area) includes Buncombe, Haywood, Henderson, Madison, and Transylvania Counties.
Interest Rate Update
As of July 19, 2026, the national average for a fixed rate 30-year mortgage is 6.68%, up about 15 basis points since our last update.
Please contact us so we can recommend the best mortgage lenders in the Asheville area, including our own in-house Howard Hanna Mortgage team. If you have already been pre-approved with a lender, did you know Howard Hanna Mortgage can offer a free second opinion to make sure you’re getting the best loan product and the best terms for your specific situation?
New Listings
After peaking in April, the number of new listings dropped for the second straight month. June numbers were more in line with historical norms. The busy listing season is likely over for 2026. But there will always be a few new listings every day, so be sure to sign up for automatic listing notifications so you don’t miss a new listing.
Inventory
As is typical for summer, inventory rose only slightly in June, as closed sales start to catch up with new listings. We should see inventory levels begin to decline in September or October. In Black Mountain, inventory actually dipped slightly in June (by 10 units).
Months Supply (Absorption Rate)
Our months supply of homes (absorption rate) is right around 6 months of inventory, except in Black Mountain (6.9 months). This is skewed towards a buyers’ market. Buyers definitely have options, but well-priced homes in desirable locations are still moving quickly (with some receiving multiple offers). So if you find the perfect home, don’t wait to come to see it!
Closed Sales (Units)
The number of closed sales increased dramatically across the Asheville MSA in June (726 closings in June 2026 compared to 587 in June 2025). Buncombe County had the most closings in one month (369) since September 2022. Black Mountain had its best month (31 closings) since August 2021.
Negotiation
The average closed price to list price ratio in our area is around 94%. Sellers are usually willing to negotiate in this market, especially on homes that have been on the market for a couple of months or that have already had a price reduction. In the chart below, you can see that Black Mountain (the dark grey line) bounces around a lot due to the small sample size.
Days on Market
“Days on market” dropped across all areas, to approximately 60 days across the Asheville MSA and Buncombe County and 73 days in Black Mountain.
Home Prices
Median home prices and average home price are slightly down from their Covid-era peaks, but have been mostly stable over the last year.
Median Home Price (Month-over-Month)
***Note the Black Mountain line (in dark grey) bounces around a lot because Black Mountain is a small market and just 1 or 2 sales can skew the data in either direction.
Median home prices continue to hover around $450k – $500k in Buncombe County. The chart below shows a lot of variation month to month, but the trend over the last 4 years has been relatively flat.
Median Home Price (Previous 12 Months Activity)
It can be easier to see the trends in pricing when viewing the previous 12 months of activity (as opposed to month over month). Across the Asheville MSA, the median price has been $450k for several months now. Buncombe County’s median price is $475k, while Black Mountain and Asheville have been closer to $500k.
Average Home Price (Month-over-Month)
Average home prices continue to bounce around, with some big changes month over month. For example, the average sale price in Asheville in June was $655k, up from $622k in May. But overall, the trend line for our area is showing slight price increases.
Average Home Price (Previous 12 Months Activity)
Looking at the trailing 12 months shows a slight increase in average price, but still down slightly from pre-Helene highs.
Luxury Home Closed Sales
One reason for the increase in average sales is due to the increase in luxury home sales in June. For the purpose of this discussion, luxury sales are those that closed at $1,000,000 or higher. Across the Asheville MSA, sales above $1,000,000 were at all time high (71 closed units; previous high was 69 in June 2022). Buncombe County (44 closed units) was the 3rd highest all-time and the highest since May 2024 (49 closed units). Black Mountain had 5 closed units, tied for the second most all-time (6 in April 2024). Asheville had 29 luxury sales, trailing only April 2022 (31 sales).
Average Price Per Square Foot
This month, we’ve added the chart below to track the average price per square foot of closed sales. Across the Asheville MSA, average price/square foot has hovered in the $280-$290 range for about 4 years now. Buncombe County has been trending in the $290 – $330 range, and Asheville has been around $330-$340.
Land Sales
The land market remains soft. Buyers continue to focus on existing homes due to the cost of new construction, the number of existing homes available, and the fact that most home sellers are willing to negotiate.
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