January Market Report 2025

Asheville Region Market Report – January 2025

The Asheville real estate market has kicked off 2025 with significant shifts that both buyers and sellers need to understand. This report is your go-to resource for understanding how the market is performing and how these changes might affect your real estate decisions.

How to Read This Market Report

Every percentage change you see in this report compares January 2025 to January 2024. For example, if the Median Sales Price is up 6.7%, that means homes in January 2025 sold for 6.7% more on average than they did in January 2024. This year-over-year comparison helps us see whether the market is appreciating, cooling down, or shifting in other ways.

Key Terms Explained:

• Median Sales Price: The middle price point—half of homes sold for more, and half sold for less.

• Pending Sales: Homes that went under contract but haven't closed yet.

• Closed Sales: Transactions that have been finalized.

• Inventory: The total number of homes for sale.

• Days on Market (DOM): How long it takes, on average, for a home to sell after being listed.

• Months Supply of Inventory: Indicates how long it would take to sell all homes currently on the market if no new listings were added. 5-6 months is considered a balanced market.

Key Highlights of the January 2025 Market

1. Market Activity Overview

• New Listings: 906 new properties hit the market, a 22.4% increase from January 2024 (740 new listings).

• Pending Sales: Up 2.2% to 746 homes under contract (compared to 730 last year).

• Closed Sales: Slight rise of 0.3% to 640 finalized transactions (up from 638 in January 2024).

• Days on Market (DOM): Homes took 68 days to sell on average, a 28.3% increase from last year’s 53 days.

• Cumulative Days on Market (CDOM): Homes sat on the market for 76 days total (counting relistings), a 31.0% increase from last year.

2. Pricing Trends

• Median Sales Price: $421,375, up 6.7% from $395,000 in January 2024.
  What this means: Homes are generally more expensive this year than they were last January.

• Average Sales Price: $515,721, up 2.3% from $504,164 last year.

• Average List Price: $607,433, a significant 11.4% increase from $545,158 in January 2024. This suggests sellers are confident and possibly pricing higher than market value.

• Percent of Original List Price Received: 93.8%, a slight improvement of 0.6%, meaning sellers are getting closer to their asking prices.

3. Inventory & Supply Dynamics

• Inventory of Homes for Sale: 2,744 homes available, a 29.7% increase from 2,115 last January.

• Months Supply of Inventory: 3.5 months, up 40.0% from 2.5 months in January 2024. This shift means the market is moving toward balance but still favors sellers slightly.

• Housing Affordability Index: Dropped to 67, down 8.2% from 73 last year, indicating homes are becoming less affordable.

What This Means for Buyers

Opportunities:

• More Options, Less Competition: With nearly 30% more homes on the market, buyers have more choices and less pressure from bidding wars.

• Negotiation Power: Homes are sitting on the market longer (68 days), which gives buyers room to negotiate prices or request seller concessions.

• Explore Land and Development: With rising inventory, this could be an excellent time to consider purchasing land or investing in developing areas around Asheville.

Challenges:

• Rising Prices: The 6.7% increase in median home prices means you might need to adjust your budget or expectations.

• Affordability Concerns: The decline in the Housing Affordability Index suggests that, while there are more homes available, it’s becoming harder to afford them, especially if interest rates remain high.

What This Means for Sellers

Opportunities:

• Higher Listing Prices: Sellers can benefit from the 11.4% increase in average list prices, suggesting that buyers are still willing to pay more for desirable properties.

• Strong Demand for Quality Homes: Well-maintained, properly priced homes are still moving quickly, especially in desirable areas of Asheville.

Challenges:

• More Competition: With inventory up nearly 30%, sellers face stiffer competition. Proper staging, professional photos, and strategic pricing are essential.

• Longer Selling Times: Homes are taking 28.3% longer to sell, so patience and flexibility might be required.

Final Thoughts & Next Steps

The Asheville real estate market is showing signs of balance, with rising inventory and stable sales, but affordability remains a key challenge for many buyers. Sellers still benefit from strong price growth, but the days of quick, over-asking sales may be slowing down.

???? For Buyers: Interested in developing areas, custom home building, or land investment? Let’s talk about the latest opportunities and how you can make the most of this growing inventory.
???? For Sellers: Want to know what your home is worth in today’s market? Get a free property evaluation and stay connected with market updates through our website to track how trends impact your equity.

???? Let’s connect today to discuss how these market shifts can help you achieve your real estate goals, whether you’re buying, selling, or investing.

Market Slides – January 2025

Here are the key slides from the market report to help you visualize the data:

New Listings

906 new listings hit the market in January 2025, a 22.4% increase from January 2024.

Pending Sales

Pending sales rose slightly by 2.2% to 746 homes under contract.

Closed Sales

Closed sales remained stable, with 640 homes sold in January 2025, up 0.3% from last year.

Median Sales Price

The median sales price increased by 6.7% to $421,375, showing continued price growth.

Let’s Connect – Your Trusted Partner in Real Estate

Navigating the Asheville real estate market can be overwhelming, but you don’t have to do it alone. I’m Patrick Brooks, founder of Industry Property Group, a dedicated real estate professional with over 8 years of experience helping buyers, sellers, and investors achieve their goals. But beyond real estate, I’m a man of faith, a father, and someone who’s walked through challenges—including overcoming addiction and rebuilding my life with God’s guidance.

I believe that real estate is more than just transactions—it’s about building relationships, fostering community, and creating a future you can feel proud of. Whether you’re looking to buy your dream home, sell for top dollar, or explore land development opportunities, I’m here to guide you every step of the way.

If you’re looking for someone who values honesty, integrity, and a personal connection, I’d love to chat and see if we’re the right fit.

???? Call or Text Me Anytime: (828) 520-0936
???? Email: patrick@industrypropertygroup.com
???? Explore Listings: www.industrypropertygroup.com
???? Follow My Journey: @ashevillebroker

Whether you're ready to make a move or just curious about what’s next, I’m here to help.

Let’s take this journey together. ????