Real Estate Market Update for the Asheville, NC Area
May 27, 2026
The selling season is about to kick off in the Asheville area! June and July are always busy months with lots of buyer activity. Once our summer camps start, the tourism floodgates will open and the mountain region will be buzzing!
Did you know that according to a 2020 study by the North Carolina Youth Camp Association, summer camps have the following economic impact on the Western North Carolina region:
- Direct Economic Impact to the Western Region: $217 million.
- Total Economic Impact to the Western Region: $332 million.
- Induced Economic Impacts to the Western Region:
- $37 million in increased resident income.
- 1,055 full time equivalent (FTE) jobs created
If you add in the non-summer camp families that visit the Asheville region every summer, you can see why summer is our busiest season.
Note: The numbers below (with the exception of the mortgage rate chart) are through April. In the graphs below, the Asheville MSA (Metropolitan Statistical Area) includes Buncombe, Haywood, Henderson, Madison, and Transylvania Counties.
Interest Rate Update
As of May 27, 2026, the national average for a fixed rate 30-year mortgage is 6.61%, up about 30 basis points since our update last month (but slightly down over the last week).
Please contact us so we can recommend the best mortgage lenders in the Asheville area, including our own in-house Howard Hanna Mortgage team.
Inventory
April brought additional inventory, which is expected due to sellers listing in the spring and buyer traffic being a little behind. This is a typical seasonal trend. While it may seem like we have a lot of inventory, the chart below shows that we are in line with pre-Covid levels for this time of year.
Months Supply (Absorption Rate)
Our months supply (absorption rate) is now just over 5 months of inventory, except in Black Mountain (just over 7 months). This is within the range of a traditional balanced market. Homes that are priced well and in good condition are selling, and buyers have options. We are still seeing some multiple offer situations, especially for well-priced and well-marketed properties.
New Listings
In Buncombe County and Asheville, we saw the most new listings in one month since May 2025. Black Mountain saw 54 new listings, which is exactly the same number as May 2025. But across the Asheville MSA, new listings spiked significantly to the highest one month level in at least 10 years. In most years, the highest months for new listings are April, May, or June, so it is likely that we’ll see these numbers level off in the next 5 weeks.
Because of these new listings, there are truly some fantastic homes on the market right now, and buyers certainly have choices. If you’re actively looking to buy a home in Western North Carolina, be sure to sign up for automatic listing notifications so you don’t miss a new listing.
Closed Sales (Units)
While inventory spiked, April also brought a healthy increase in closed units. In fact, closed sales across the Asheville MSA were at the highest level for April since April 2022 during the Covid boom.
Negotiation
The average closed price to list price ratio in our area is still around 93%. 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.
Days on Market
Interestingly, in April the average “days on market” dropped from 90-100 days in March to about 70 days region-wide and in Buncombe County, and only 57 days in Black Mountain. Homes in good condition and priced correctly are the most likely to sell in less time, and it’s still not uncommon to see homes sell in under 30 days.
Home Prices
Median home prices and average home price are slightly down from their mid-2025 peaks, but since then have been mostly stable.
***Note the Black Mountain line (in blue) bounces around a lot because Black Mountain is a small market and just 1 or 2 sales can skew the data in either direction.
Land Sales
Closed land sales increased slightly in April, but still lagged behind historical norms. This is not surprising in a market with ample supply of existing homes. Building takes time and building costs can exceed planned budgets, especially on lots with slope issues. If you’re considering buying land and building, be sure to check out our blog article about building versus buying an existing home. Also, read our guide to choosing an Asheville area builder.
Talk to a Local Agent About the Asheville Real Estate Market
Please contact us to speak with a local Asheville real estate agent about the real estate market in Asheville, NC and the surrounding areas.
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