Asheville can now claim to be a part of the market shift. When you look at the first 5 months of this year compared to the same period last year, it doesn't look so bad, but if you look at just April and May you will discover the market to be down 20% in closed volume from last year at the same time. Prices have held steady with a slight up tic, but listings have balooned to a record levels in WNCMLS with over 6400 properties on the market.
New home sales are suffering the most with over 4 months as the average "time on market."
It is interesting to note that with all this bad news, the numbers really indicate that business is where it was 5 years ago, which was a steady solid business a temperate growth.
Watch for the next wave of new condos, townhouses, and homes this summer. If the weather is any indication it's going to be a long dry, hot real estate summer.
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