The Numbers Are IN

The latest numbers are in from the WNC Regional MLS for March 2008.
The March 2008 numbers were as follows:

2008 2007
Homes sold 455 665
Average Days on Market 123 111
Average selling price 240,528.00 271,320.00
Average listed price 252,248.00 280,556.00

This shows that the western part of North Carolina is not immune to the declining housing market.

Asheville Housing Market

Western NC and the Asheville area are beginning to see the same declines in home sales that the rest of the country has been experiencing for the last couple of years. In March, home sales droped 27.3% from March a year ago and the average price of a home fell 10% during the same period. While Asheville has been the exception to the housing slump, seeing home prices rise through most of 2007, the last five months have seen declines with March being the largest.

The good news is that Asheville and the WNC area have been the last to see the declines in the housing market and should be part of the first to see the turnaround. Asheville is still listed as the number one place most people would like to move to and when they can sell their homes every where else the Asheville area will rebound quickly.