Asheville Home Sellers Cut Prices Amid $600k Median List Price Test

Price reductions swept through 52.9% of Asheville’s active listings during the week ending Nov. 7, 2025, even as the metro’s median list price held firm at $599,000, a 40.9% premium over North Carolina’s statewide median of $425,000.

The mountain metro recorded 232 homes absorbed from the market weekly while maintaining 2,511 active listings. New inventory additions totaled 120 properties, creating a months of supply measure of 2.6, slightly above the state’s 2.6 months and national figure of 2.5 months.

Inventory and pace

Asheville’s housing stock moved at a measured pace, with homes taking a median 84 days to find buyers, one week longer than both state and national medians of 77 days. The absorption rate of 232 homes weekly outpaced new listings by nearly 2-to-1, suggesting buyers engage when pricing aligns with expectations.

The 4.1% relisting rate indicates most sellers who remove properties from the market return with adjusted strategies rather than abandoning sale plans entirely. Price increases affected just 0.9% of active inventory, underscoring the dominant trend toward downward adjustments.

Home price trends

At $295.3 per square foot, Asheville commands substantial premiums over both North Carolina ($210.3) and national ($212.3) averages. The $599,000 median list price represents a $174,000 gap above state levels and $166,020 above the national median of $432,980.

Despite aggressive price cutting on more than half of available homes, the overall pricing structure remains elevated. The contrast between widespread reductions and sustained high medians suggests initial listing prices may have tested even loftier thresholds before sellers recalibrated.

What to watch

Monitor the 52.9% price reduction rate as a leading indicator of seller flexibility. Track whether the $599,000 median holds or begins reflecting the downward pressure evident in individual listing adjustments. Watch absorption rates relative to new inventory additions, the current 232-to-120 ratio favors market tightening if sustained.

The 84-day median days on market serves as a key benchmark for transaction velocity in this premium-priced metro.

Use the 52.9% price cut rate when advising sellers about realistic pricing strategies in Asheville’s current market. Track the weekly absorption figure of 232 homes to gauge buyer activity levels. Monitor the $295 per-square-foot benchmark when evaluating individual property values against metro norms.

HousingWire used HW Data to source this story. To see what’s happening in your own local market, generate a housing market report. For enterprise clients looking to license the same market data at a larger scale, visit HW Data.