Real Estate Market Update for the Asheville, NC Area
April 22, 2026
Spring is here and the listing season is in full swing in the Asheville area! We are seeing some incredible properties hit the market everyday in all price ranges. 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.
Note: The numbers below (with the exception of the mortgage rate chart) are through March. In the graphs below, the Asheville MSA (Metropolitan Statistical Area) includes Buncombe, Haywood, Henderson, Madison, and Transylvania Counties.
Interest Rate Update
As of April 22, 2026, the national average 30-year fixed rate is hovering around 6.33%, down about 10 basis points since last month. Rates spiked in early April but have gradually come back down since then. 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
March brought the first inventory increase of 2026, which is expected due to sellers listing early and buyer traffic being a little behind. This is an expected seasonal trend. We’re already seeing increased buyer activity in April, as well as more listings coming to the market. Expect this trend to continue for another 3 months or so.
Months Supply (Absorption Rate)
Our months supply (absorption rate) is now about 4.5 – 5.5 months of inventory. 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.
New Listings
New listings definitely spiked in March, with the Asheville MSA gaining 503 new home listings and Buncombe gaining 227 of those. This is the beginning of the listing season in the Western North Carolina real estate market. This metric will continue to increase until May or June, with the “listing season” really getting ramped up this month. If you’re considering selling this year, now is the time to get your home ready. Contact us if you’d like to discuss getting your home ready for the market. We can help determine which spring projects will result in the highest return.
Closed Sales (Units)
March also brought a big increase in closed units. It’s good to see an increase in closed units to go along with the increase in new listings. These March closings represent contracts that were likely signed in January and February, indicating a strong winter. In fact, March saw the most closed sales in the Asheville MSA since 2023.
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. For newly listed homes that are priced well, we are still seeing some multiple-offer situations (or “bidding wars”).
Days on Market
On average, listed homes stay on the market for 90-100 months before they go under contract. Homes in good condition and priced correctly are the most likely to sell in less time, and it’s 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
The land market remains soft but March saw an increase in closed sales (across the Asheville MSA). Some of the softness in the land market is due to high building costs and limited availability of lots in certain area. But mostly, buyers are opting to buy existing homes rather than go through a lengthy building process. This also means that sellers are usually willing to negotiate, and there are a number of good building lots and also lots with great views on the market. Spring is a great time to walk vacant lots!
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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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