Q3 2025 Western North Carolina Luxury Market Report & Forecast
Western North Carolina | Q3 2025
Q3 Market Report & Forecast | October 2025
MARKET REPORT
Western North Carolina’s luxury real estate market showed steady activity and adaptability through the third quarter of 2025 While overall transaction volume dipped slightly year over year, the $1M –$1.99M segment remained notably resilient.
COMMUNITY UPDATES
Asheville (City, North)
Downtown Asheville Condos Buncombe County Arden
Biltmore Forest Henderson County Haywood Fairview/Fletcher Foothills
FORECAST
While the ultra-luxury segment experienced a measured pace in the third quarter, the fundamentals across Western North Carolina’s high-end real estate market remain strong
PODCAST
From market forecasts, interviews, and house marketing ideas, join the team at Ivester Jackson Blackstream I Christie's for the latest in Carolina’s luxury real estate content
Current Trends
Western North Carolina’s luxury real estate market remained active and nuanced through the third quarter of 2025, as pricing trends, inventory dynamics, and buyer behavior shifted across key submarkets. While pockets of the region experienced slight declines in transaction volume compared to the third quarter of 2024, several areas, especially the luxury-market, $1 - $1.999M, continued to demonstrate resilience amid broader economic headwinds. Inventory levels have risen in many submarkets, particularly in the outer counties, offering increased options for buyers heading into the fourth quarter. Meanwhile, the ultra-luxury market revealed a mixed performance, with strength in certain pockets offset by softness and slower absorption in others.
CITY OF ASHEVILLE
In the City of Asheville, luxury sales climbed from 45 units last year to 54 in the third quarter of 2025, a notable 20% increase that highlights continued interest in well-located, high-quality properties Meanwhile, the ultra-luxury segment saw a slowdown, with seven sales this quarter compared to 26 in the third quarter of 2024, despite steady active inventory levels This dip in activity suggests a more cautious approach from high-end buyers as we move into the final quarter of the year Pending sales also remain low across all price points, hinting at a tempered pace to close out the year,
CITY OF ASHEVILLE
NORTH ASHEVILLE
North Asheville’s luxury segment remained steady, with 23 sales in the $1M – $1.99M range, up from 16 last year.
However, the ultra-luxury segment softened, posting seven sales in the third quarter, down from 10 a year ago, despite 20 homes currently listed and only one pending. This indicates rising inventory and a lengthening time on market for higherend homes in this traditionally competitive submarket
NORTH ASHEVILLE
DOWNTOWN ASHEVILLE CONDOS
The luxury condo market downtown saw an uptick in ultra-luxury activity with one $2M+ closing in Q3 2025, compared to zero in the same period last year The $1M – $1 99M segment had no closings this quarter, despite five pending sales, suggesting a potential rebound in the fourth quarter Overall, elevated inventory and slower absorption rates suggest that pricing and positioning will be key heading into winter
DOWNTOWN ASHEVILLE CONDOS
BUNCOMBE COUNTY
Across greater Buncombe County, the $1M – $1 99M segment posted 86 sales this quarter, up modestly from 78 last year The ultra-luxury market saw more significant deceleration, falling from 39 sales in the third quarter of 2024 to 20 in the third quarter of 2025 With 118 properties now listed above $2M and only 13 pending, the ultra-luxury market is trending toward a more balanced or even buyer-favorable environment
BUNCOMBE COUNTY
Homes Sold
BILTMORE FOREST
Biltmore Forest experienced a sharp correction at the top of the market. Only one $2M+ sale was recorded in the third quarter of 2025, down from five in the previous year, despite 13 ultra-luxury properties currently on the market. The $1M – $1.99M segment remained consistent with five closings this quarter, up slightly from four last year. The absence of pending sales indicates a cautious approach as we move into the fourth quarter
BILTMORE FOREST
Q3 Homes Sold
ARDEN & FAIRVIEW/ FLETCHER
The Arden market reflected a modest luxury retreat with six closings in the $1M –$1 99M range vs five in the third quarter of 2024 and five ultra-luxury closings, compared to seven the previous year Notably, there are four additional $2M+ properties under contract, suggesting the fourth quarter could show a resurgence at the top of the market Inventory levels remain steady, and the area ’ s accessibility continues to attract lifestyle-focused buyers
The Fairview/Fletcher area saw a slowdown in luxury and ultra-luxury transactions this quarter The $1M–$1 99M range recorded eight closings, down from 11 in the same period last year There were no closings in the $2M+ market this quarter, down from two in the third quarter of 2024 Inventory remains plentiful, and two ultra-luxury properties are under contract heading into the fourth quarter, signaling potential movement before year-end
ARDEN
Q3 Homes Sold
FAIRVIEW/FLETCHER
Q3 Homes Sold
HENDERSON COUNTY
Henderson County mirrored several other submarkets with reduced luxury activity this quarter The $1M – $1 99M segment saw 25 closings, down from 30 last year. The $2M+ market remained stable with two sales compared to one sale in the third quarter of 2024. Inventory has grown, especially in the luxury tier, with 113 active listings between $1M – $1.99M and only 20 currently under contract
HENDERSON COUNTY
Homes Sold
HAYWOD COUNTY
Luxury sales in Haywood County jumped year-over-year, with 17 closings in the $1M – $1 99M range compared to 11 in the third quarter of 2024 Ultra-luxury sales held steady at three units sold
While pending activity is relatively light, rising interest in second homes and vacation properties continues to support strong momentum in this scenic mountain community.
HAYWOOD COUNTY
Homes Sold
FOOTHILLS: POLK, RUTHERFORD,
CLEVELAND COUNTY
The Foothills experienced a noticeable slowdown in luxury activity, with just nine closings in the $1M – $1.99M category this quarter, down from 15 in the third quarter of 2024.
Ultra-luxury sales increased modestly from two to four closings, though only two are currently under contract and 26 remain active. This widening inventory suggests some price sensitivity and a need for strategic positioning moving forward
FOOTHILLS: POLK, RUTHERFORD, CLEVELAND COUNTIES
Homes Sold
WESTERN NORTH CAROLINA MARKET FORECAST
Luxury Market Holds Firm as Buyer
Demand and Inventory Rise Across
Western North Carolina
While the ultra-luxury segment experienced a measured pace in the third quarter, the fundamentals across Western North Carolina’s high-end real estate market remain strong Many submarkets, particularly Asheville, North Asheville, and Haywood County, continued to attract serious buyers, with increased activity in the $1M – $1.99M tier signaling steady demand for well-located, lifestyle-driven properties.
Inventory in the $2M+ range has grown across several counties, creating fresh opportunities for buyers who previously faced limited selection. At the same time, sellers willing to price strategically and present their properties well will find that motivated, well-capitalized buyers are still very much in the market. Pending sales and active showings point to a pipeline of transactions that may carry momentum into the early part of 2026. As tourism steadily returns to the region, the outlook is bright for a strong seasonal sell-through. As we look ahead to the new year, we anticipate that increased inventory, steady buyer demand, and continued lifestyle appeal will drive renewed activity in both the luxury and ultra-luxury segments
