written Sep 25 2025

little brown cabin in the woods surround by green grass, trees and a picket fence

Can we talk about what a wild year 2025 has been for Asheville real estate? As someone who’s been in the trenches with buyers and sellers through every twist and turn, I’ve watched our market shift in ways that honestly surprised even me.

As we wrap up the year, I keep thinking about all the conversations I’ve had with clients who were trying to navigate these changes. The stressed-out sellers wondering why their homes weren’t flying off the market like their neighbor’s did in 2022. The buyers who finally felt like they could breathe and actually think about their decisions instead of panic-bidding on everything.

This year taught us some serious lessons about timing, market cycles, and what happens when the pendulum swings from extreme seller’s market back toward something more… human.

So let’s break down what actually happened in our mountain market this year - not just the numbers, but what they mean for real people making real decisions about buying and selling homes in Asheville.

Lesson 1: Inventory Finally Gave Everyone Room to Breathe

Remember when finding a decent listing felt like winning the lottery? Yeah, 2025 said “hold my beer” to that whole situation.

One of the most dramatic shifts I witnessed this year was inventory climbing steadily throughout the spring and summer. By the second quarter, we were seeing numbers that felt almost foreign after years of bare-bones listings.

The Canopy Realtor Association tracked our months’ supply jumping from 3.7 to 6.2 months - that’s a 67.6% increase that fundamentally changed how the market operates. Mosaic Realty confirmed we were nearing that magical 6-month mark that signals a balanced market, where neither buyers nor sellers have overwhelming leverage.

By July, Freestone Properties was reporting stable inventory levels around 6.5 months, and honestly, it felt like the market could finally exhale.

What this meant in real life: I had buyers who could actually schedule second showings instead of making offers sight unseen. Sellers realized they needed to step up their game instead of just throwing any property on the market and expecting bidding wars.

The lesson: After years of scarcity, abundance changed everything. The high-demand, low-supply frenzy that defined our market for so long gave way to something much more reasonable - and frankly, more sustainable.

Lesson 2: Buyers Rediscovered Their Negotiating Power

Here’s something that made me genuinely happy this year: watching buyers remember they have rights in real estate transactions. For too long, our market had buyers waiving inspections, offering tens of thousands over asking, and basically accepting whatever terms sellers demanded.

2025 flipped that script completely.

Median Days on Market stretched from 44 days to 53 days by June - and by July, Realtor.com was showing Asheville with a median of 69 days. That might not sound like much, but in a market where homes used to sell in a weekend, it was revolutionary.

Mosaic Realty’s data showed the City of Asheville holding steady around 46 days, while Buncombe County moved from 54 to 64 days. What I love about these numbers is what they represent: buyers having time to think.

What this looked like in practice: I had clients who could tour a home on Saturday, sleep on it, maybe see it again on Tuesday, and make a thoughtful decision. They could negotiate repairs. They could ask for closing cost assistance. They could act like human beings instead of desperate competitors.

The lesson: When urgency fades, rational decision-making returns. Buyers gained leverage not through market manipulation, but through simple supply and demand rebalancing.

Lesson 3: Prices Stayed Surprisingly Stable (But Don’t Expect Fireworks)

Here’s what didn’t happen in 2025: a dramatic price crash. Despite all the inventory increases and longer selling times, home values remained remarkably stable.

gray house with red door and american flag

Zillow showed Asheville’s average home value at $481K as of July - down just 0.8% year-over-year. That’s essentially flat, which honestly makes sense given our market’s fundamentals.

Mosaic reported some interesting variations within the city limits, with medians rising from $488K to $535K, likely reflecting changes in which price segments were most active. Meanwhile, Buncombe County saw a dip from $477K to $450K in Q1, then Asheville itself hit $507K - showing how different areas and price points moved at different rates.

What this meant for my clients: Sellers couldn’t expect automatic appreciation like in previous years, but they also weren’t facing scary value drops. Buyers found reasonable prices but not the “deals” some were hoping for.

The lesson: Asheville’s market showed remarkable resilience. Prices didn’t crash when inventory increased - they just stopped their rapid climb. This suggests underlying demand for mountain living remains strong, even when market dynamics shift.

Lesson 4: Fewer Sales, But More Thoughtful Ones

Volume definitely dropped this year, and honestly, that wasn’t necessarily a bad thing. Quality over quantity became the name of the game.

Mosaic tracked a 13.7% drop in city sales and a 24.4% decrease across Buncombe County in Q2. Canopy reported closed sales down 6.9% in April, with pending activity following suit.

But here’s what those numbers don’t show: the sales that did happen were often more thoughtful, better-matched transactions. Buyers weren’t panic-buying. Sellers weren’t getting away with overpricing or poor presentation.

What I observed: The transactions that closed were typically better for everyone involved. Buyers got homes they actually wanted at prices they could afford. Sellers who priced correctly and presented well still sold successfully.

The lesson: Lower volume doesn’t always mean worse market - sometimes it means healthier market. When people have time to make good decisions, they usually do.

Lesson 5: The Shift Was Regional, Not Just Local

One thing that became clear throughout the year: Asheville wasn’t experiencing these changes in isolation. The broader Western North Carolina region was moving in the same direction.

Canopy’s regional data showed listings up 20% and inventory jumping 45.8%, bringing supply to 4.9 months across the wider area. By July, the region hit 6.5 months of supply - firmly in balanced territory.

Why this matters: It suggests these changes weren’t specific to Asheville’s unique dynamics, but part of a broader market correction that was probably overdue.

The lesson: Understanding regional trends helps predict local market sustainability. When the whole area is moving toward balance, individual markets are more likely to find stable footing.

What 2025 Taught Different Types of Market Participants

For Buyers: Patience Became a Virtue Again

After years of having to move at lightning speed, 2025 buyers rediscovered the luxury of being choosy. The most successful ones I worked with:

Took time to really understand neighborhoods instead of buying the first available option
Negotiated repairs and concessions that had been impossible in previous years
Made offers based on actual value rather than fear of missing out
Used inspection periods to make informed decisions

The key insight: Buyers who adapted to having choices performed better than those still operating in panic mode.

For Sellers: Strategy Replaced Wishful Thinking

The sellers who thrived in 2025 were those who understood the new reality early and adjusted accordingly:

Priced strategically from day one instead of testing the market high
Invested in presentation - staging, photos, and curb appeal mattered again
Remained flexible on terms when negotiating with serious buyers
Understood their competition and positioned accordingly

The key insight: In a balanced market, execution matters more than timing.

For Investors: Long-term Thinking Won Over Quick Flips

Investment strategies that worked:

Focus on cash flow rather than rapid appreciation
Target properties with strong fundamentals - good locations, solid bones, rental potential
Plan for longer hold periods instead of quick turnarounds
Emphasize value-add opportunities where improvements could justify pricing

The key insight: Sustainable investing strategies outperformed speculative ones.

The Mistakes That Cost People Money in 2025

Sellers who overpriced: Homes that sat on the market for months because owners were still thinking in 2022 terms.

Buyers who waited for a crash: Missing good opportunities while hoping for dramatic price drops that didn’t materialize.

Investors who flipped without adding value: Properties that couldn’t compete in a more selective market.

Anyone who ignored local expertise: National trends don’t always apply to Asheville’s unique market dynamics.

Looking Ahead: What 2025 Sets Us Up For

Based on this year’s patterns, here’s what I’m watching for:

Continued balance: The 6-month inventory level suggests we’ve found a sustainable equilibrium.

Quality differentiation: Properties that show well and price correctly will continue outperforming average listings.

Neighborhood variations: Different areas of Asheville and Buncombe County will likely perform differently based on local factors.

Seasonal patterns: Normal seasonality should return now that inventory levels support it.

The Bottom Line: 2025 Was the Year Markets Grew Up

After years of market extremes - first the frenzy, then concerns about crashes - 2025 gave us something we hadn’t seen in a while: a normal real estate market.

Buyers could make thoughtful decisions. Sellers who prepared well could still achieve their goals. Investors focused on fundamentals found opportunities. Everyone had to actually understand real estate instead of just riding market momentum.

Was it less exciting than the crazy appreciation years? Maybe. Was it more sustainable and ultimately healthier for everyone involved? Absolutely.

The properties that sold were typically better matches for their buyers. The prices were more reflective of actual value. The transactions were less stressful for everyone involved.

Your 2026 Action Plan

If you’re thinking about buying: The market rewards preparation and patience. Get pre-approved, understand neighborhoods thoroughly, and be ready to act on the right property.

If you’re considering selling: Price correctly from day one, invest in presentation, and understand that good marketing matters more than ever.

If you’re investing: Focus on properties with strong fundamentals and clear value propositions. Quick flips are harder; quality investments are still profitable.

For everyone: Work with local experts who understand Asheville’s specific market dynamics. National trends don’t always translate to mountain markets.

Why This Year’s Lessons Matter

2025 reminded us that real estate markets are cyclical, and extreme conditions - whether super hot or ice cold - don’t last forever. The markets that perform best long-term are those that find sustainable balance.

Asheville’s market showed remarkable resilience this year. We didn’t crash when inventory increased. We didn’t stagnate when sales slowed. Instead, we found equilibrium - something that benefits everyone in the long run.

The most important lesson? Markets work best when they work for everyone - buyers, sellers, and the community as a whole. 2025 moved us closer to that ideal.

Ready to navigate 2026 with confidence? Understanding what happened this year is the first step to making smart decisions next year. Whether you’re buying, selling, or investing, the lessons from 2025 can guide your strategy for success.