The Asheville Real Estate Market Is Going Crazy. Now We Know Why!

Did you see how much the Asheville Real Estate market has been inflated over the past month or two. It is INSANE to say the least. Homes that sold for around $200,000 – $250,000 just a year ago are now going for about double the price, and people even creating bid wars to get the home that they want. For example, the home pictured above was recently selling for $545,000 in West Ashevile, and get this, it is less than 1100 square feet of primary living space. I don’t know about you, but a half of a million dollars is a hefty price to pay for something that could easily be built for $150,000 not so long ago.

West Asheville Real Estate $365,000
Small West Asheville Homes Sells For More Than It’s Asking Price of $365,000

This home, again in West Asheville, with just a little over 800 square feet, was listed for $365,000. And guess what? Within days there was a real estate bidding war on it, and it went for much more. So is $500 per square foot the new real estate standard for the Asheville area? We want to say no, but evidence shows otherwise.

D.R. Horton Homes in Asheville
D.R. Horton Homes, a Nationwide Home Builder, is now developing Asheville North Carolina

Major land developers and builders now have their sights set on Asheville North Carolina. D.R. Horton Homes, which operates in 44 of the top 50 homebuilding markets in the United States, and has developed many home communities right down the road in Greenville South Carolina, is now here and building fast. A new community named Fountain Park is being constructed off of Brevard Rd with easy access to Interstate 26 and people are already moving in.

Moving to Asheville

Many long term locals and others who have moved to the area with the hope of home ownership, now feel as if their dreams are crushed and that they are going to get stuck paying rent for the rest of their life. Although the city of Asheville is booming in many areas, wages are still at a minimal, sometimes called “Living Wage,” but it is many times a wage that allows you to barely get by. Tourism is growing by leaps and bounds, but service industry paychecks stay about the same. Many folks are being forced into shared housing situations, and sometimes even homeless. Are you thinking about moving to Asheville and buying a home? You may want to reconsider your options, which include moving to the suburbs on the outskirts of the city. These areas include Fletcher, Hendersonville, Brevard, Woodfin, Weaverville, Marshall, Mars Hill, Candler, Canton, Waynesville, Swannanoa, Black Mountain, and Old Fort.

Asheville North Carolina Art, Food, Beer, Waterfalls
Asheville North Carolina Has It All

Asheville tourism has hit the breaking point of no return; it is never going back to the “way it used to be.” Folks started visiting, or as many called “escaping to Asheville,” years ago. For awhile it was a little secret, a place to go to get away from the real world. Then Obama came to visit about 10 years ago and bragged tremendously about the area. At the same time, the Instagram social media platform was just getting off the ground and photos became the new craze. I remember telling people back in those days that I lived in Asheville, and they would ask “Nashville?” I would again say Asheville, and they would ask where it was. Western North Carolina was my response. Our hometown was the land of milk and honey; it still is to a big extent, and it has every right to be. Think about it. What’s not to love about us? There are so many sub-communities in the city of Asheville, along with wonderful little towns surrounding us in all directions. From downtown action, to the westside life, to waterfalls, hiking, biking, camping, delicious food, fine craft beer, wine, and cocktails, amazing art, fun festivals, unique shops, hip music, incredible local tours, talented theater, a sustainable culture, the Blue Ridge Parkway, the Appalachian Trail, and overall great folks just about everywhere you go! “Quality of Life” is the term that many use. See our blog post and videos on 10 Must Stop Places In & Around Asheville NC.

Jet Blue Airlines, Amtrak Train Service, Carnival Cruise Lines
Many Travel & Tourism Based Companies Are Laying Foundations in Asheville

Asheville has easy access to Charlotte North Carolina, Greenville South Carolina, & Johnson City Tennessee; and then extended access to Atlanta GA, Nashville TN, Raleigh NC, Greensboro NC, Charleston SC, Savannah GA, and Wilmington NC. And get this… Jet Blue just announced they are coming to Asheville, Amtrak has plans for rail service to Asheville using the existing tracks from Norfolk Southern, and someone even joked about Carnival Cruise Lines heading this way, but we all know that will never happen. But they would if they could!

Moving to Asheville North Carolina from out of town

In closing, I would like you to turn to the book of Asheville, chapter 20, verse 21. We are just getting out of a pandemic, or at least hoping to, working remotely has become the new trend, and folks are fleeing to the mountains like never before. Hold onto your land! Or sell it! It’s totally up to you. Depending upon where you are in life, it may be time to sell out or buy in. If are interested in buying or selling your land, home or business in the Asheville North Carolina area, we are connected to some amazing Real Estate Brokers that can help you. Contact us and we will put you in touch with them. If you are interested in building a new home or commercial property in Western NC, we stand ready and available to assist you in that process.

***this article was written by: G Social Media of Asheville NC

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