2020 Asheville Area Annual Market Report

CAROLINA MOUNTAIN SALES 2020 ANN UAL AREA MARKET REPORT

NTAIN SALES A Wilkinson �

COMPANY

TABLE OF CONTENTS 2020 Asheville Real Esate Year in Review

Letter from our Broker-ln-Charge..........................1 Asheville City Residential..................................... 2-3 Buncombe County Residential............................4-5 Company Highlights ..........................................6-1 O

a as reflected in the EALTOR® for more

CAROLINA MOUNTAIN SALES

REAL ESTATE YEAR IN REVIEW

2020

Friends, Clients, Colleagues, 2020 has been a year of change and has presented us all with unforeseen challenges. It has also been an opportunity to show others what makes us strong-being in the service of others and giving back to our communities. This year has brought about so much change and in the process, has reaffirmed our commitment to our profession.

As the impact of COVID-19 continues to unfold before us, our hearts go out to the many people around the world who have been affected.

Despite the record-breaking sales of 2019, 2020 finished the year on a similar trajectory of sales success. The Asheville area market continues to experience a shrinking inventory across most price points. As inventory depletes, the growth of the average sales price continues to rise due to demand. Again in 2020, we continue to acknowledge and recognize the hard work and ambition that placed even more of our Sales Associates in the Top 100 Producer category for the year!

What to expect in 2021? We'll continue to see the effects of a housing market in the midst of a pandemic. Increased buyers in our local market, many coming from out of state due to climate relocation, retirement, or just buyers seeking more space and a slower pace than that of larger metro areas. The low interest rate also accounts for an increase in buyers, ideal for first-time buyers and our ever-expanding millennial market. We expect this to continue and Asheville to sustain a demand for housing throughout the year.

You may have questions about making a move, what your home might be worth, and what is involved in putting a home up for sale. Let our knowledgeable and experienced Brokers and REALTORS ÂŽ here at Carolina Mountain Sales walk you through the entire process. We are always available to answer any questions you may have.

Once again, thank you for the opportunity to serve you.

Amanda Holland Broker-In-Charge Carolina Mountain Sales

CAROLINA MOUNTAIN SALES 2020 REAL ESTATE YEAR IN REVIEW

ASHEVILLE CITY

AVERAGE DAYS ON MARKET : AVERAGE SOLD HOMES/ CLOSED SALES: MEDIAN SALES PRICE (SFH & CONDO): AVERAGE MONTHS SUPPLY:

RESIDENTIAL

AVERAGE PRICE PER SQUARE FOOT:

100

Average Days on Market

75

50

25

2015

2016

2017

2018

2019

2020

100

List Price to Sales Price Ratio

75

50

25

0

2015

2016

2017

2018

2019

2020

400,000

300,000

Median Sales Price

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2016

2017

2018

2019

2020

0 0

200,000

0 0 0

0 0 0

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2

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2015

51 2,334 $354,000

3.02 $232.09

• -22.73%

t t

2.91% 11.32%

• -26.16%

t

6.81%

CAROLINA MOUNTAIN SALES 2020 REAL ESTATE YEAR IN REVIEW

ASHEVILLE CITY RESIDENTIAL

Cont'd.

2,500

2,000

Closed Sales

1,500

1,000

500

0

2015

2016

2017

2018

2019

2020

2015

2016

2017

2018

2019

2020

3,000

2,000

New Listings

3

1,000

CAROLINA MOUNTAIN SALES 2020 REAL ESTATE YEAR IN REVIEW

BUNCOMBE CO. RES

AVERAGE DAYS ON MARKET: AVERAGE SOLD HOMES/ CLOSED HOMES: MEDIAN SALES PRICE (SFH & CONDO): AVERAGE MONTHS SUPPLY: AVERAGE PRICE PER SQUARE FOOT:

125

100

Average Days on Market

75

50

25

0

2015

2016

2017

2018

2019

2020

100

List Price to Sales Price Ratio

75

50

25

2015

2016

2017

2018

2019

2020

400,000

0

Median Sales Price

N

300,000

200,000

0 0 0

.,,

0 0 0

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.,,

2016

2017

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2018

2019

2020

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100,000

4 0

2015

54 4,652 $339,250

0 $210.75

•t t •t

-16.92% 6.87% 10.15% -100.00% 7.39%

CAROLINA MOUNTAIN SALES 2020 REAL EST ATE YEAR IN REVIEW

BUNCOMBE CO. RESIDENTIAL CONT D. 1

5, 000

4, 000

Closed Sales

3· 000

2, 000

1, 000

20 15

20 16

20 17

20 18

2016

2017

2018

20 19

20 20

6,000

New Listings

4,000

2,000

5 2015

2019

2020

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8

1 5

TEAM MEETINGS 2020 Team Meetings came to an in-person grinding halt after our early March gathering at Farewell Asheville (we know-ironic, right?).

Little did we know that this would be our last in-person gathering before COVID-19 became a global pandemic and Zoom became the standard meeting room for companies everywhere.

OUR NEW OFFICE! 80 CHARLOTTE ST 2020 Had more than a few bright spots-one of which was our move to 80 Charlotte Street in central Asheville's bustling Charlotte Street corridor.

Our new office makes the most of a location close to everything! Our modern, cafe-styled office makes conducting our client's buying or selling activity, a dream.

A state-of-the-art real estate experience with conference facilities, coffee bar, lounge, and wif1, we welcome visitors to experience our unique real estate environment.