From Staff Reports

ASHEVILLE, N.C. — Five hundred five homes sold within the city limits of Asheville during the first half of 2025, which is a 13.7 percent decline compared to the same period in 2024, according to city housing data. 

Also, only 859 homes were sold in Buncombe County in the first half of 2025, a 24.4 percent drop in the county, compared to the same period in 2024, the data shows.

“The decline is related to stubborn interest rates dampening buyer demand across the country and ongoing rccovery from Helene,” Mike Figaro, owner of Mosaic Community Lifestyle Realty, was quoted as saiyng by the Asheville Citizen Times on July 31.

“Nationally, existing home sales declined by 2.7 percent in June, according to a July 22 report from the National Association of Realtors. The report predicted that, if mortgage rates declined in the second half of the year, an addition 160,000 renters will become first-time homebuyers. It’s unclear how that will happen.”

The ACT added that “home sales during the second quarter of 2025 slowed, compared to prevous years, indicating buyers are hesitating to purchase amid the region’s recovery from Tropical Storm Helene — and as national markets adjust to changes in federal policy and sturbborn interest rates.

“In Buncombe County, median home sale prices rose slightly between the first two quarters of 2025, rising by just $2,000 to $479,000, according to a second-quarter market report compiled by Mosaic Communityu Lifestyle Realty.

“In Asheville, median sale prices increased $47,000 to $535,000 in the city of Asheville — a 10 percent increase. At the same time, the number of home sales declined significantly compared to the same period in previous years,” the ACT reported.