Western North Carolina real estate market ends the first quarter with stability and growing momentum, particularly in the midmarket and ultra-luxury segments
COMMUNITY UPDATES
Asheville (City, North)
Downtown Asheville Condos
Buncombe County
Arden
Biltmore Forest
Henderson County
Haywood
Fairview/Fletcher
Foothills
FORECAST
Rising inventory is expanding buyer options in Western North Carolina, with pending sales signaling strong performance ahead.
PODCAST
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A Market In Motion
As the first quarter of 2025 comes to a close, the Western North Carolina real estate market is revealing a story of stability with signs of increasing momentum. While some areas posted modest year-over-year changes, others experienced notable jumps in activity, particularly in the mid-market and ultra-luxury segments. Inventory across most tiers has been steadily climbing over the last 60 days, providing more opportunities for buyers and shifting the dynamic in several submarkets Strong pending sales in key areas suggest that a more active spring and summer season may already be taking shape.
CITY OF ASHEVILLE
The Asheville market demonstrated overall steadiness this quarter, with encouraging signs pointing toward a more active second quarter In the mid-market range $600K–$999K, closed sales came in at 96, a sizable jump from 88 during the first quarter of 2024, while active inventory has climbed to 166 listings, giving buyers a wider selection The luxury market $1M–$1 99M held mostly flat with 26 closed transactions this year versus 29 a year ago However, 20 homes are currently under contract, indicating solid buyer engagement and potential for a strong second quarter The ultraluxury segment $2M+ was softer, with only 8 sales in this quarter, down from 14 last year Still, inventory continues to rise, and with more listings entering the market, we may see a resurgence in the months ahead
CITY OF ASHEVILLE
NORTH ASHEVILLE
North Asheville posted one of the more dynamic performances in the first quarter Mid-market sales rose significantly year-over-year, climbing from 16 to 23 Ultraluxury saw a slight gain, with 4 closings compared to 3 in 2024 However, the luxury tier experienced a slight drop falling to just 6 sales from 18 the previous year Even so, inventory across all tiers remains limited: only 31 mid-market homes, 25 luxury listings, and 14 ultra-luxury properties are currently active The combination of strong demand and tight supply is likely to keep this submarket competitive moving into the second quarter
NORTH ASHEVILLE
DOWNTOWN ASHEVILLE CONDOS
Downtown Asheville’s condo market showed fresh energy in the first quarter, especially in the luxury segment. There were three luxury condo sales in the first quarter, compared to none in the same period last year. Two additional units are currently under contract, suggesting continued activity this spring. The mid-market segment was flat, posting three sales in both 2024 and 2025, but currently has three more units pending a sign that the second and third could be stronger. The ultra-luxury tier remained unchanged, though inventory remains very limited, with just four active listings over $2 million.
DOWNTOWN ASHEVILLE CONDOS
BUNCOMBE COUNTY
Buncombe County posted relatively flat results across most price points, with slight variations The mid-market ticked up modestly to 158 sales from 148 a year earlier, while luxury dipped slightly 46 sales in 2025 versus 53 in 2024 Ultra-luxury remained nearly level with 13 closings compared to 15 last year Inventory has risen, but remains in line with demand, helping to preserve a sense of market balance Pending sales are trending upward, laying the groundwork for stronger activity in the second quarter
BUNCOMBE COUNTY
BILTMORE FOREST
A historically stable and deliberate market, Biltmore Forest continued to move at its own pace in the first quarter. Activity was tempered across all price points. The ultraluxury tier saw just one sale, though two homes were under contract at the end of the quarter. Inventory is inching up, with three ultra-luxury homes now listed over $3 million, which may help revitalize activity heading into the warmer months
BILTMORE FOREST
Q1 Homes Sold
ARDEN & FAIRVIEW/ FLETCHER
Arden had a standout first quarter, with surging buyer interest across nearly all segments. The mid-market is especially active, with 17 properties currently under contract more than double the number of closed sales for the quarter The ultraluxury segment is showing similar strength, with six homes pending, also double the first quarter sales count The luxury market slightly outpaced its 2024 performance, posting six sales this quarter compared to five, and ultra-luxury sales climbed from one to three. With pending sales outpacing closed deals, Arden appears poised for a highly active spring and summer
Fairview and Fletcher experienced a quieter first quarter, largely due to tight inventory especially in the mid-market Only 10 mid-market homes closed, down from 15 last year, but 17 are now under contract, which sets up a strong performance in the second and third quarter Ultra-luxury inventory remains limited, and although just two sales closed in the first quarter, one pending transaction hints at a potential rebound The luxury market saw more listings come online, but fewer sales than the nine recorded in 2024, pointing to a buildup of inventory waiting to be absorbed as buyer activity increases during the spring and summer months
ARDEN
Q1 Homes Sold
FAIRVIEW/FLETCHER
Q1 Homes Sold
HENDERSON COUNTY
Henderson County showed strength across all three price categories in the first quarter, topping 2024 numbers in each Mid-market sales rose from 46 to 59, the luxury segment held steady with 24 sales versus 22 last year, and the ultra-luxury tier posted a rare jump from zero sales in 2024 to two this year Rising inventory is being met with steady buyer interest, suggesting a healthy, balanced market heading into the prime selling season. With pending sales on the rise, Henderson County is well positioned for a strong second quarter.
HENDERSON COUNTY
Homes Sold
HAYWOD COUNTY
Haywood County delivered mixed results, with the mid-market segment showing growth, while the luxury tier paused and ultraluxury remained flat However, pending sales in both the luxury and ultra-luxury categories outpaced the first quarter closings, indicating growing demand As a seasonal market, Haywood typically attracts more buyers as temperatures rise, and with inventory still low, pricing strength and reduced days on market may define the months ahead.
HAYWOOD COUNTY
Homes Sold
FOOTHILLS: POLK, RUTHERFORD, CLEVELAND COUNTY
The Foothills region remained largely stable during the first quarter, with flat year-over-year sales across all price ranges. Still, there’s reason for optimism: pending sales in both the mid-market and luxury segments are strong. Inventory remains relatively high, which is helping balance demand and prevent pricing volatility. Horse properties continue to be a driving force in the luxury and ultra-luxury categories, and consistent interest in these unique offerings should keep this submarket active through the second and third quarters
FOOTHILLS: POLK, RUTHERFORD, CLEVELAND COUNTIES
Q1 Homes Sold
WESTERN NORTH CAROLINA MARKET FORECAST
Signs point to a more energized market as we move into the second and third quarters.
Rising inventory is giving buyers more choices, while pending sales are already indicating stronger upcoming performance across several key areas, particularly Arden, Fairview, Henderson County, and North Asheville. The luxury and ultra-luxury segments remain mixed, but selective buyer demand is keeping well-priced homes competitive. The mid-market continues to serve as the market’s foundation, with consistent activity and manageable inventory levels.
If current trends hold, Western North Carolina is poised for a strong spring and summer season marked by balanced conditions, steady demand, and increased opportunity for both buyers and sellers. Pricing is expected to remain stable in most areas, and sellers who list strategically in the coming months should be well positioned to take advantage of renewed momentum.
