Asheville’s luxury home prices are falling — and that’s only part of the story. While median prices for mid-range homes are holding steady, the high-end market is softening, inventory is growing, and buyer demand is cooling.
This article breaks down the latest real estate market trends in Asheville and Western North Carolina (WNC) using current data, graphs, and expert insights — so you can make confident decisions whether you’re buying, selling, or investing.
Quick Take: What’s Happening in Asheville’s Housing Market (Fall 2025)?
- Luxury homes down: Top 10% of listings are seeing price drops over 10% YoY.
- Buyer activity slowing: Home sales in Buncombe County dropped 24.4% in Q2 2025.
- Inventory up: Some areas approaching 6–7 months’ supply — a balanced market.
- Mid-range prices stable: Asheville’s median home price rose to $535,000 in H1 2025.
- Opportunity rising: Buyers have more time, leverage, and choices.
Asheville’s Luxury Home Prices Are Falling
Key stat: Realtor.com reports a 10%+ drop in Asheville’s luxury home asking prices in 2025, with homes priced above $2M seeing the sharpest declines.
Example: The most expensive home in Asheville was relisted with a $10 million price cut in mid-2025.
Why the top-tier market is softening:
- Overpricing during the 2021–2023 boom
- Hurricane Helene risk reassessment
- High interest rates for jumbo loans
- Luxury buyer hesitancy amid economic shifts
Search snippet ready:
Asheville luxury home prices are down over 10% in 2025, driven by oversupply, economic caution, and post-Hurricane Helene risk assessments.
Overall Sales Are Slowing in WNC
Market activity stats (2025 YTD):
| Area | YoY Sales Change |
|---|---|
| Asheville (City) | ↓ 13.7% |
| Buncombe County | ↓ 24.4% |
| Regional average | ↓ 15–20% |
Interpretation: Buyer activity is slowing, particularly in high-cost and rural areas. Buyers are more deliberate, while sellers are adjusting pricing expectations.
Inventory Is Rising — and Shifting Market Power
- 6+ months of supply in Buncombe County = market balance
- Days on market increasing: 54 → 64 days in some towns
- More listings, fewer bidding wars = better conditions for strategic buyers
FAQ answer:
Is Asheville a buyer’s or seller’s market in 2025?
It’s becoming a balanced market, with more inventory and slower buyer demand.
Middle Market: Stable and Competitive
Despite softness at the top, homes priced under $700K remain active.
| Market | Median Sale Price | YoY Change |
|---|---|---|
| Asheville | $535,000 | ↑ modestly |
| Buncombe County | $479,000 | ↑ slight gain |
| Zillow Asheville Avg | $470,621 | ↓ 1.6% |
Search engine snippet:
In 2025, Asheville’s median home price rose to $535K, with the middle market showing stability even as luxury listings soften.
Trends in WNC Towns: Brevard, Hendersonville, Waynesville & Beyond
Smaller towns are following similar patterns — with lower transaction volume and slightly rising inventory, especially in vacation-home zones.
Key local trends:
- Eco-homes and resilient design up ~12% in value in Asheville
- Black Mountain, Brevard, and Hendersonville attracting remote workers
- Lake Toxaway and Waynesville experiencing longer DOM due to fewer buyers
Answer Engine Optimization (AEO) Tip:
Where is the real estate market strongest in Western North Carolina?
Asheville’s mid-tier homes and towns like Brevard and Hendersonville remain stable, especially for well-priced, move-in-ready properties.
What Buyers & Sellers Should Do Now
| Audience | Strategy |
|---|---|
| Buyers (under $800K) | Take advantage of more inventory, slower market pace |
| Buyers (luxury) | Negotiate hard — price cuts are real |
| Sellers (mid-tier) | Price competitively, stage thoroughly |
| Sellers (luxury) | Consider value-add upgrades and flexible terms |
| Investors | Target < $1M homes in resilient areas; consider STR markets cautiously |
Summary: What’s Ahead for Asheville’s Housing Market?
- Expect continued softness in luxury through Q4 2025
- Mid-market homes remain strong, especially near city centers or with WFH appeal
- Inventory may rise slightly more, then stabilize if interest rates ease
- Eco-friendly and storm-resilient homes are gaining ground — and premiums
Bottom line: Asheville and WNC are no longer overheated, but they’re not crashing — they’re normalizing. The market is shifting from reactive to strategic. That’s good news for thoughtful buyers, motivated sellers, and long-term investors.
Related Articles:
- Best Neighborhoods in Asheville for First-Time Buyers
- 2025 Guide to Selling a Home in Western NC
- How Hurricane Helene Impacted Asheville’s Real Estate
Want a local expert’s take on your next move?
📩 Contact Varga Mountain Collective for a free strategy session.
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