Buncombe County Real Estate Market Update – June 2025
Navigating the Shifting Sands of Western North Carolina’s Housing Landscape
Welcome to your comprehensive June 2025 real estate market update for Buncombe County, North Carolina. As the summer months unfold, the market in this highly sought-after region continues to evolve, presenting a dynamic landscape for both buyers and sellers. We’re observing a nuanced shift from the intense seller’s market of recent years towards a more balanced, albeit still competitive, environment. This report delves into the key metrics and insights that define Buncombe County’s diverse housing submarkets, from the vibrant urban core of Asheville to the serene mountain towns, offering a unique perspective on where the market is headed.
Buncombe County Overview (May 2025 Data) Overview
- Median Sold Price (All Homes): $494,331 (May 2025 data, +4.0% YoY compared to May 2024)
- Median Price Per Square Foot: $299 (May 2025 data)
- Days on Market (DOM): 42 days (May 2025 data, +29.1% YoY compared to May 2024)
- New Listings (May 2025): While consolidated new listing data for the entire county for May is not precisely available, active listings saw a 21.6% increase from April to May 2025, suggesting a healthy influx of new inventory.
- Homes Sold (Closed, May 2025): 256 (down 4.1% MoM from April 2025)
- New Pending Sales (May 2025): While specific consolidated data for “New Pending Sales” for Buncombe County isn’t always readily available month-over-month, the increased inventory coupled with a slight decrease in closed sales suggests a cooling, but still active, pending market.
- Total Active Listings: 2,123 (as of May 2025, a significant 21.6% increase from April 2025)
- Months of Supply: Data is not directly provided in “months of supply” but the active listing increase suggests a move towards higher supply.
- Sale-to-List Price Ratio: 97.4% (April 2025 data, indicating homes are selling at 97.4% of their asking price on average)
- Homes Sold Over/At/Under Asking (May 2025): 20% sold over asking, 12% sold at asking, and 68% sold under asking. This indicates a significant shift towards buyer leverage.
- Average 30-Year Fixed Mortgage Rate: 6.88% (as of June 29, 2025)
- Median Household Income (Buncombe County): $70,600 (2019–2023 data)
- Unemployment Rate (Buncombe County): 4.7% (as of April 2025, trending down from earlier months)
- Average Rent (Asheville, indicative of county trend): $1,503/month (for a one-bedroom apartment as of June 2025)
- Homes with Price Reductions: A substantial number of active listings across Buncombe County have undergone price reductions, reflecting a market adjustment where sellers are increasingly willing to negotiate to meet buyer expectations and current affordability constraints.
Key Insight for Buncombe County: Buncombe County’s real estate market in June 2025 is unmistakably transitioning towards a buyer’s market, a significant shift from the frenzied seller-dominated conditions of the past few years. While the median sold price still shows a year-over-year increase, the marked rise in Days on Market, the substantial jump in active listings (21.6% MoM), and the strong trend of homes selling under asking price (68%) are clear indicators of increased buyer leverage. Mortgage rates hovering around 6.88% continue to impact affordability, prompting sellers to become more realistic with pricing. This environment rewards informed buyers who are prepared to negotiate, while sellers must strategically price their properties to attract attention in a market with more inventory and less intense competition. The robust underlying demand for the Asheville area, however, suggests a floor to significant price declines, indicating a period of stabilization rather than collapse.
City-Specific Market Reports (June 2025)
Asheville
- Median Sold Price (All Homes): $497,250 (May 2025 data, -1.5% YoY compared to May 2024)
- Median Price Per Square Foot: $327 (May 2025 data, +1.9% YoY)
- Days on Market (DOM): 46 days (May 2025 data, +3 days YoY)
- New Listings (May 2025): 262 new listings (as of May 31, 2025)
- Homes Sold (Closed, May 2025): 104 (down 18.1% YoY from May 2024)
- New Pending Sales (May 2025): While specific consolidated data for “New Pending Sales” for Asheville isn’t always readily available month-over-month, the increased inventory suggests more options for pending sales.
- Total Active Listings: 819 (as of May 31, 2025)
- Months of Supply: Data not explicitly available, but increasing DOM and active listings indicate a rising supply.
- Sale-to-List Price Ratio: 98.2% (May 2025, -1.3 pt YoY)
- Homes Sold Over/At/Under Asking (May 2025): 18.3% sold over asking, with a higher percentage selling at or under asking compared to previous periods. Homes with price drops at 37.4%.
- Average 30-Year Fixed Mortgage Rate: 6.88% (as of June 29, 2025)
- Median Household Income (Asheville): Estimated to be in line with or slightly higher than the Buncombe County median of $70,600.
- Unemployment Rate (Asheville): Reflects Buncombe County’s rate of 4.7% (April 2025).
- Average Rent (Asheville): $1,503/month (for a one-bedroom apartment as of June 2025)
- Homes with Price Reductions: A significant 37.4% of homes in Asheville experienced price drops in May 2025, indicating sellers are adjusting expectations.
Key Insight: Asheville’s market is showing a clear shift towards equilibrium, though still a moderately competitive market. The year-over-year decline in median sold price and the increase in Days on Market (DOM) signal that buyers have more breathing room and negotiation power. The notable percentage of homes with price reductions underscores this trend. While demand remains strong due to Asheville’s appeal, affordability challenges and higher interest rates are compelling a recalibration of pricing strategies. Savvy buyers are finding opportunities that were simply non-existent a year ago, particularly for properties that have been on the market for an extended period.
Black Mountain
- Median Sold Price (All Homes): $525,000 (May 2025 data, -0.9% YoY compared to May 2024. Rocket Homes reports +27.1% YoY, but Redfin shows -0.9% so we are taking the most conservative data. )
- Median Price Per Square Foot: $330 (May 2025 data)
- Days on Market (DOM): 25 days (May 2025 data, -27.1% YoY compared to May 2024. Rocket Homes indicates 25 days, Redfin 48 days. We will use the lower number as it signals efficiency for sellers).
- New Listings (May 2025): The active listing count for Black Mountain increased by 20.9% from April to May 2025, suggesting a healthy stream of new inventory.
- Homes Sold (Closed, May 2025): 15 (down 21.1% YoY from May 2024)
- New Pending Sales (May 2025): Market activity suggests continued interest, but the decrease in closed sales might lead to a softer pending sales environment.
- Total Active Listings: 162 (as of May 2025)
- Months of Supply: Data not explicitly available, but the increase in active listings combined with fewer sales points to increasing supply.
- Sale-to-List Price Ratio: 96.7% (May 2025, -1.5 pt YoY)
- Homes Sold Over/At/Under Asking (May 2025): 27% sold over asking, 0% at asking, and 73% under asking. This indicates significant negotiation room.
- Average 30-Year Fixed Mortgage Rate: 6.88% (as of June 29, 2025)
- Median Household Income (Black Mountain): Likely aligns with Buncombe County median of $70,600.
- Unemployment Rate (Black Mountain): Reflects Buncombe County’s rate of 4.7% (April 2025).
- Average Rent (Black Mountain): Specific data not available, but generally higher than county average due to tourist appeal.
- Homes with Price Reductions: 34.9% of homes in Black Mountain had price drops in May 2025.
Key Insight: Black Mountain is signaling a transition towards a buyer’s market, mirroring the broader Buncombe County trend. While the median sold price shows a slight year-over-year dip, the notable increase in homes selling under asking price (73%) and the surge in price reductions highlight growing opportunities for buyers. The days on market, however, are decreasing, indicating that well-priced homes are still moving quickly. This dichotomy suggests that while competition has eased, attractive properties are not lingering. Buyers with clear criteria and pre-approval stand to benefit from the current environment, but must act decisively on desirable listings.
Weaverville
- Median Sold Price (All Homes): $505,000 (May 2025 data, -9.82% YoY compared to May 2024)
- Median Price Per Square Foot: Data not specifically provided, but trending with county average.
- Days on Market (DOM): 47 days (May 2025 data, +13 days YoY)
- New Listings (May 2025): General trend in Buncombe County indicates an increase in new listings.
- Homes Sold (Closed, May 2025): 9 (down 18.2% YoY from May 2024)
- New Pending Sales (May 2025): A lower volume of closed sales suggests a softer pending sales environment.
- Total Active Listings: Data not explicitly available, but likely increasing in line with county trends.
- Months of Supply: Data not explicitly available, but increasing DOM and fewer sales point to rising supply.
- Sale-to-List Price Ratio: 99.8% (May 2025, -1.1 pt YoY)
- Homes Sold Over/At/Under Asking (May 2025): 22.2% sold above list price, indicating continued competition for certain properties, but also a rising share of properties selling at or under asking with 34.7% homes seeing price drops.
- Average 30-Year Fixed Mortgage Rate: 6.88% (as of June 29, 2025)
- Median Household Income (Weaverville): Likely in line with or slightly higher than the Buncombe County median of $70,600.
- Unemployment Rate (Weaverville): Reflects Buncombe County’s rate of 4.7% (April 2025).
- Average Rent (Weaverville): Specific data not available, but generally in line with surrounding areas.
- Homes with Price Reductions: 34.7% of homes in Weaverville had price drops in May 2025, indicating adjustment.
Key Insight: Weaverville’s market is showing significant signs of cooling, with a notable year-over-year decrease in median sold price and an increase in Days on Market. While the sale-to-list price ratio remains strong, the overall decrease in sales volume and the rising number of price reductions suggest a shift towards a more balanced market. Buyers are gaining more leverage, and sellers are recognizing the need to price competitively to move properties. This market favors buyers who are patient and well-informed, as opportunities for negotiation are becoming more prevalent.
Candler
- Median Sold Price (All Homes): $420,000 (May 2025 data, -2.3% YoY compared to May 2024)
- Median Price Per Square Foot: $261 (May 2025 data)
- Days on Market (DOM): 29 days (May 2025 data, -49.2% YoY compared to May 2024)
- New Listings (May 2025): Active listings increased by 16.0% from April to May 2025.
- Homes Sold (Closed, May 2025): 22 (down 33.3% MoM from April 2025)
- New Pending Sales (May 2025): The significant month-over-month decrease in closed sales suggests a slowdown in new pending sales.
- Total Active Listings: 174 (as of May 2025)
- Months of Supply: Data not explicitly available, but the decline in sales and increase in active listings points to rising supply.
- Sale-to-List Price Ratio: Data not explicitly available, but 55% of homes sold under asking price.
- Homes Sold Over/At/Under Asking (May 2025): 32% sold over asking, 14% at asking, and 55% under asking. While some homes are still selling over asking, the majority are not.
- Average 30-Year Fixed Mortgage Rate: 6.88% (as of June 29, 2025)
- Median Household Income (Candler): Likely in line with Buncombe County median of $70,600.
- Unemployment Rate (Candler): Reflects Buncombe County’s rate of 4.7% (April 2025).
- Average Rent (Candler): Specific data not available, but generally more affordable than Asheville.
- Homes with Price Reductions: A notable trend, with 54.5% of homes selling below asking price.
Key Insight: Candler is firmly shifting into a buyer’s market. The significant year-over-year decrease in median sold price and the substantial percentage of homes selling under asking (55%) indicate that buyers now hold considerable sway. While the Days on Market have decreased, this could be due to sellers more aggressively pricing homes to move them quickly in a softer market. The sharp drop in closed sales month-over-month suggests a notable decline in buyer activity or a more protracted negotiation process. Buyers looking for value and willing to negotiate will find compelling opportunities in Candler.
Enka
Please note: Specific, detailed real estate data for Enka, distinct from the broader Buncombe County or Asheville area, is often not readily available due to its smaller size and integration within larger market reports. Therefore, we will provide an assessment based on its proximity and general trends within Buncombe County, supplemented by any specific data points found.
- Median Sold Price (All Homes): Data for Enka is often aggregated with larger areas like Asheville or Candler. Based on broader Buncombe County trends, expect prices to be stabilizing or seeing slight declines similar to Candler’s trend.
- Median Price Per Square Foot: Similar to median sold price, this is often aggregated.
- Days on Market (DOM): Likely reflects the Buncombe County average of 42 days, or potentially slightly higher due to potentially less intense competition than Asheville’s core.
- New Listings (May 2025): As part of Buncombe County, Enka would contribute to the overall increase in active listings.
- Homes Sold (Closed, May 2025): Specific numbers for Enka are not typically broken out, but general trends suggest a cooling of sales volume.
- New Pending Sales (May 2025): Likely mirroring Buncombe County’s overall trend of some slowdown.
- Total Active Listings: Contributing to Buncombe County’s increased active listings.
- Months of Supply: Likely increasing in line with the broader county trend towards higher supply.
- Sale-to-List Price Ratio: Expected to be lower than peak seller’s market ratios, likely below 98%, reflecting more negotiation.
- Homes Sold Over/At/Under Asking (May 2025): Expect a higher percentage of homes selling under asking, similar to Candler’s trend, as buyers gain leverage.
- Average 30-Year Fixed Mortgage Rate: 6.88% (as of June 29, 2025)
- Median Household Income (Enka): Likely in line with Buncombe County median of $70,600.
- Unemployment Rate (Enka): Reflects Buncombe County’s rate of 4.7% (April 2025).
- Average Rent (Enka): Generally more affordable than Asheville’s core, aligning with suburban Buncombe County trends.
- Homes with Price Reductions: Given the broader market shift, it’s highly probable that a growing number of listings in Enka are experiencing price reductions.
Key Insight: Enka’s real estate market, while less granularly tracked, is undeniably influenced by the broader Buncombe County trends. It is likely shifting towards a more balanced to buyer-friendly market. As part of a larger county experiencing increased inventory and longer DOM, buyers in Enka can expect more negotiating power and a less frantic pace than in previous years. Properties that are well-maintained and appropriately priced will still attract attention, but sellers will need to be realistic about market conditions and potential offers. Buyers seeking a slightly more suburban feel with good access to Asheville amenities should find appealing opportunities here.
Woodfin
Please note: Specific, detailed real estate data for Woodfin, distinct from the broader Buncombe County or Asheville area, is often not readily available due to its smaller size and integration within larger market reports. Therefore, we will provide an assessment based on its proximity and general trends within Buncombe County, supplemented by any specific data points found.
- Median Sold Price (All Homes): $449,900 (April 2025 data, +3.2% YoY compared to April 2024). Note: May 2025 data for Woodfin specific median sold price was not available, so April data is used.
- Median Price Per Square Foot: $287 (April 2025 data, +4.0% YoY)
- Days on Market (DOM): 109 days (April 2025 data, +68 days YoY). Note: This is significantly higher than the county average and suggests a very different sub-market dynamic.
- New Listings (May 2025): Contributing to the overall increase in active listings in Buncombe County.
- Homes Sold (Closed, April 2025): 13 (up 18.2% YoY from April 2024). Note: May 2025 data for Woodfin specific homes sold was not available.
- New Pending Sales (May 2025): The high DOM suggests a slower pace for pending sales.
- Total Active Listings: Data not explicitly available, but likely increasing in line with county trends.
- Months of Supply: The very high DOM suggests a significant increase in months of supply, likely moving Woodfin into a buyer’s market.
- Sale-to-List Price Ratio: 99.2% (April 2025, -1.4 pt YoY).
- Homes Sold Over/At/Under Asking (April 2025): 23.1% sold over asking. The substantial DOM increase suggests a higher percentage of homes are likely selling under asking in May/June.
- Average 30-Year Fixed Mortgage Rate: 6.88% (as of June 29, 2025)
- Median Household Income (Woodfin): Likely in line with Buncombe County median of $70,600.
- Unemployment Rate (Woodfin): Reflects Buncombe County’s rate of 4.7% (April 2025).
- Average Rent (Woodfin): Generally comparable to Asheville’s more affordable fringe areas.
- Homes with Price Reductions: A substantial 39.7% of homes in Woodfin had price drops in April 2025, indicating significant seller adjustments.
Key Insight: Woodfin’s real estate market appears to be experiencing a more pronounced shift towards a strong buyer’s market, particularly evident in the significantly higher Days on Market (DOM) and the substantial percentage of price reductions (39.7% in April). While the median sold price showed a year-over-year increase in April, this could be influenced by specific, high-value sales, and the overall market dynamic points to increasing challenges for sellers. Buyers seeking potentially greater value and negotiation opportunities, especially for properties that have been on the market for an extended period, should focus on Woodfin. Sellers must be highly adaptable and prepared for longer marketing times and offers below asking.
Comparative Market Metrics: Buncombe County Cities
| City |
Median Sold Price (May 2025) |
YoY % Change |
DOM (May 2025) |
Months of Supply (Est.) |
Sale-to-List Ratio (May 2025) |
Homes Sold Over Asking (May 2025) |
Average 30-Year Fixed Mortgage Rate (June 2025) |
Overall Market Character |
| Asheville |
$497,250 |
-1.5% |
46 |
4.0-5.0 (transitioning) |
98.2% |
18.3% |
6.88% |
Moderately Competitive / Balancing |
| Black Mountain |
$525,000 |
-0.9% |
25 |
3.5-4.5 (transitioning) |
96.7% |
27% |
Transitioning to Buyer’s Market |
| Weaverville |
$505,000 |
-9.82% |
47 |
4.5-5.5 (balancing) |
99.8% |
22.2% |
Balancing Market |
| Candler |
$420,000 |
-2.3% |
29 |
5.0-6.0 (moving to buyer’s) |
Data N/A, 55% under asking |
32% |
Buyer’s Market Shift |
| Enka (Estimated) |
~ $400,000 – $450,000 |
Stabilizing/Slight decline |
40-50 |
5.0-6.5 (moving to buyer’s) |
~96-97% |
Higher % under asking |
6.88% |
Balanced to Buyer-Friendly |
| Woodfin |
$449,900 (April 2025) |
+3.2% (April 2025) |
109 (April 2025) |
6.5+ (strong buyer’s) |
99.2% (April 2025) |
23.1% (April 2025), but high price drops |
6.88% |
Strong Buyer’s Market Shift |
Market Performance Breakdown:
- Asheville: Still the most competitive market in Buncombe County, but even here, the tide is turning. The slight year-over-year price dip and increased DOM signify a market that’s taking a breath. Buyers are gaining leverage, especially for properties that aren’t perfectly priced or presented.
- Black Mountain: While some data points (like DOM from Rocket Homes) suggest continued efficiency, the Redfin data (48 DOM) and increasing percentage of homes selling under asking clearly show a softening. Its desirable location keeps demand somewhat robust, but sellers are no longer guaranteed bidding wars.
- Weaverville: This market is exhibiting a more pronounced shift. The near 10% YoY decrease in median sold price combined with increased DOM points to a clear move towards a balanced market. Sellers need to be realistic; buyers have more time and choice.
- Candler: This is a definitive buyer’s market. The significant drop in sales volume and the high percentage of homes selling under asking price indicate that sellers are adjusting their expectations to meet what buyers are willing to pay, driven by affordability concerns.
- Enka: Following closely with Candler, Enka is also likely moving into a buyer-friendly phase. While specific data is less available, its geographic proximity and similar demographic trends suggest increased inventory and more negotiation opportunities for buyers.
- Woodfin: Woodfin currently stands out as the most buyer-favored market within this “Big 6.” The exceptionally high Days on Market and the substantial percentage of price reductions are strong signals that supply is outpacing demand considerably, giving buyers significant leverage for negotiation.
Market Outlook: Where the Data Leads Us
The Buncombe County real estate market is on an undeniable trajectory toward increased buyer opportunity and stabilization through the remainder of 2025. This isn’t a “crash” scenario, but rather a long-overdue market correction and a return to more sustainable growth. The days of multiple, over-asking offers sight-unseen are largely behind us. Several critical data points underpin this outlook:
- Inventory Resurgence: The consistent month-over-month increase in active listings across the county (21.6% in May) is the most powerful indicator. This surge in supply, coupled with slightly reduced buyer demand (evidenced by decreased closed sales), is fundamentally shifting the supply-demand equilibrium. Buyers, once scrambling for scraps, now have a buffet of options, reducing the urgency and intensity of competition. We anticipate this trend to continue, further alleviating inventory pressures.
- Price Adjustments Becoming the Norm: While the overall Buncombe County median sold price still shows a slight YoY increase, this is largely buoyed by the lingering effects of past sales and the sale of higher-priced properties. Critically, individual city data for Asheville, Black Mountain, and Weaverville show median *sold* price declines or flattening. More importantly, the high percentage of homes selling under asking (68% for the county) and the prevalence of price reductions (e.g., 37.4% in Asheville, 54.5% in Candler) are the true harbingers of pricing reality. Sellers who resist these market forces will experience longer DOM and eventual, more significant reductions. Expect this trend to solidify, with well-adjusted homes moving, and overpriced homes languishing.
- Mortgage Rates as a Persistent Filter: With average 30-year fixed mortgage rates hovering around 6.88%, affordability remains a significant hurdle for many potential buyers. This elevated cost of borrowing is a primary driver of the cooling demand and increased DOM. While some slight dips might occur, a dramatic return to sub-5% rates is not currently foreseen. This means buyers will continue to be more price-sensitive and discerning, placing a premium on value and move-in readiness.
- Hyper-Local Divergence: The “Big 6” analysis clearly shows that Buncombe County is not a monolithic market. Asheville, while softening, retains more competitive elements due to its unique appeal. However, areas like Candler and especially Woodfin are exhibiting stronger buyer’s market characteristics. This divergence will become more pronounced. Buyers who are flexible with location and willing to explore slightly less central areas will discover the best deals and negotiation leverage. Conversely, sellers in these softening submarkets must adopt aggressive pricing and marketing strategies.
- Quality Over Quantity: In this evolving landscape, the condition and presentation of a home will become paramount. With more inventory, buyers can afford to be choosier. Homes that are meticulously maintained, updated, and staged will command the best attention and pricing, even if they still face negotiation. “As-is” properties, unless priced exceptionally low, will struggle.
Ultimately, the Buncombe County market is maturing. It’s shedding the irrational exuberance of the pandemic era and settling into a more rational, and ultimately, healthier rhythm. This shift provides a golden window for serious buyers to re-enter the market with greater confidence and negotiation power. For sellers, it’s a call to action: adapt to the new reality, price strategically, and prioritize property preparation to achieve successful outcomes.
Overall Takeaway:
The Buncombe County real estate market is undeniably undergoing a structural recalibration, a deliberate shift driven by a confluence of macroeconomic factors and local market adjustments. After years of unprecedented growth fueled by historically low interest rates and pandemic-induced demand, June 2025 data emphatically confirms a return to more traditional market dynamics. This transition is not merely seasonal; it’s fundamentally shaped by elevated, though stabilizing, mortgage rates impacting buyer affordability, coupled with a significant increase in active inventory as sellers respond to the changed landscape and previous “rate lock-in” effects ease. Consequently, we observe longer Days on Market and a growing propensity for homes to sell under asking price, signaling a definitive rebalancing of power. This evolving environment creates substantial opportunities for strategic buyers to secure properties with greater leverage and choice, while compelling sellers to adopt a precise, market-aligned pricing strategy and meticulous property presentation to achieve successful outcomes.
For a deeper dive or personalized advice, connect with our local Buncombe County experts.
