Buncombe County Housing Report

Based on statistics from the NC Mountains MLS, the average house price for Buncombe County is down by 8% when comparing the sales of May of 2008 to May of this year. The Average Sales Price fell from April’s price of $286,203 to $244,490 in May. The median sales price for Buncombe County has been hovering between $205,000 and $208,000 for the months of March, April, and May of 2009.

Buncombe County is experiencing high levels of inventory with sluggish movement in sales, resulting in many months of inventory in the housing market. The Chart below represents the months of inventory on the market for different price ranges in Buncombe County as of May of 2009.

Traditionally, the Buncombe County housing market experiences a surge of sales during the summer months helping to reduce inventory. I will continue to send updates over the summer months regarding changes in the housing market for Buncombe County.