For the first time since early 2023, active listings in Buncombe County rose quarter over quarter - up 14% from Q1 - without a corresponding drop in median sale price, which held at $498,000. That combination is worth sitting with, because it doesn't fit the simple story either buyers or sellers usually tell themselves.
More inventory usually signals a market cooling in sellers' favor shifting to buyers. But the increase this quarter came almost entirely from new construction in South Asheville and Weaverville, not from existing owners deciding to sell. Resale inventory in the historic core - Montford, Grove Park, Kenilworth - actually fell slightly, and those listings continued to see multiple offers within the first two weeks.
The practical takeaway: if you're shopping in the historic districts, the market has not softened, and being pre-approved and ready to move within days of a new listing still matters. If new construction in South Asheville or Weaverville fits your search, you have meaningfully more selection and slightly more negotiating room on closing costs than you did six months ago.
For sellers, this is a market where pricing accuracy matters more than usual. Homes priced within 2% of recent comparable closings are still selling in under three weeks; homes priced more aggressively are sitting, in some cases past 60 days, which creates its own downward pressure once a listing starts to look stale.
We'll have the full Q3 numbers in October, but if history is any guide, expect the historic-district squeeze to continue through the fall closing season.
Thinking about buying or selling in Asheville? Our team is happy to talk through what this means for your specific neighborhood.
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Nora co-founded Calder & Rowe in 2014 after a decade brokering historic-district homes across western North Carolina. She holds the state's Historic Property Specialist designation and has personally closed more than 260 transactions in Montford, Grove Park, and Kenilworth.
