February 2022 Market Update

February's data is in, and here's what we have to report: 50% of homes sold were on the market just 5 days or less in February; a 29% decrease from both the previous month and the previous year. Home prices increased just 3% from the previous month, and 18% from February last year. More listings were added in February than in January, but fewer homes were sold. Additionally, the total number of active listings decreased from the previous month and the previous year, and properties sold for about 98% of the price they originally listed for. And, we've seen the months of inventory drop from around 1 month to only about half a month. So, yes, we're still in a seller's market in Buncombe County. To dig deeper into these numbers, click here or call to speak with one of our agents today! (828) 771-2339