A Look at Asheville Real Estate This October
Mortgage rates are going up! While home prices continue to increase across the nation, and are expected to into 2019, the rate of price growth is slowing. U.S. home prices rose by 5.5 percent in August from a year ago — the slowest pace in two years, according to CoreLogic’s Home Price Index report and HPI Forecast. Home-price growth is expected to rise just 4.7 percent from August 2018 to August 2019.
In Asheville, many neighborhoods have seen a decrease in asking price, yet an increase in sells price decrease since August 2018. However mortgage rates are increasing. A 30-year conventional rate rose to 5.02 percent from 4.78 the previous week. 15-year conventional and 30-year Jumbo rates increased to 4.5 percent.
As we head into one of the most beautiful months in Asheville, let’s explore average asking and selling prices for Asheville real estate, as of October 8, 2018.
Average Real Estate Asking Price –October 2018
- Downtown/Central Asheville (28801) – $574,136
- South Asheville (28803) – $778,270
- North Asheville (28804) $833,287
- East Asheville (28805) $563,975
- West Asheville (28806) $363,574
- Weaverville (28787) $435,844
- Candler (28715) $436,304
- Black Mountain (28711) $535,290
- Swannanoa (28778) $368,794
- Fletcher (28732) $637,511
- Fairview (28730) $765,015
- Montreat (28757) $446,075
- Leicester (28748) $401,014
- Arden (28704) $681,380
Are sellers getting what they are asking for? Some of the asking prices may seem as “sticker shock”, but remember there are many high end properties in most of these areas, so that can skew the numbers. Let’s look at the average sales price, and perhaps a more accurate look at prices when looking at homes for sale in Asheville.
Average Real Estate Selling Price – October 2018
- Downtown/Central Asheville (28801) – $425,823
- South Asheville (28803) – $492,845
- North Asheville (28804) $526,413
- East Asheville (28805) $357,763
- West Asheville (28806) $306,770
- Weaverville (28787) $344,303
- Candler (28715) $344,069
- Black Mountain (28711) $353,283
- Swannanoa (28778) $266,342
- Fletcher (28732) $361,448
- Fairview (28730) $441,686
- Montreat (28757) $474,983
- Leicester (28748) $243,875
- Arden (28704) $444,424
What areas can you find a deal? Swannanoa, Candler, and Leicester. Many young families or young adults are looking at these areas.
What areas are hot? Arden, Candler, West Asheville, South Asheville, and Weaverville.
Where are many retirees looking? Central Asheville, North Asheville, East Asheville, Black Mountain, West Asheville, and more.
Neighborhoods that saw a rise in the average asking price compared to July include Candler and Black Mountain.
The Buyer’s Agent of Asheville is local real estate firm located in downtown Asheville, N.C., dedicated with laser focus, fierce negotiating skills, and detailed transaction management, so you can rest assured knowing that your real estate needs are our top priority. Get access to all homes in your price range that match your needs and wants. Search Asheville Homes for Sale The Buyer’s Agent of Asheville has been loyally assisting home buyers in the Asheville, North Carolina area for over a decade. Call today 828.210.4663
