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May 19, 2024

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Jackson Housing Market Remains Strong

In August, home sales in the Asheville region (spanning 13 counties monitored by Canopy MLS) saw a 21.6% decline, with 902 homes sold. Compared to August 2022, there were 249 fewer home sales during the same period. However, on a month-to-month basis, August showed a 12.3% increase in sales, with nearly 100 more homes sold compared to July.

Among the counties, Jackson County was the exception, experiencing a 7% year-over-year increase in August sales, totaling 30 homes compared to 28 in August 2022. Contract activity also rose by 20.8%, with 29 homes going under contract versus 24 a year ago.

New listings decreased by 30.8%, as only 27 homes were listed for sale, down from 39 in August 2022. County inventory decreased by 6% to 78 homes for sale, while the supply increased by 8.6% to 3.8 months. Median sales price soared by 42.5%, reaching $431,000, and the average sales price increased by 3.1% to $569,651. In contrast, the average list price dropped by 40.1% to $475,915.

This resulted in the original list price to sales price ratio standing at 92.1%, with an average of 43 days on the market until sale.

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