August 2022 Market Report

August market updates are out, and agents in the field are feeling many of these changing numbers. Notably, the median days on market number jumped from 7 to 12 - that's a big one. When looking at specific price points, some are still hovering in the 6-8 range, and  some higher price ranges are at more than 20, which is typical. The average days on market for all price points in Buncombe County in August was 30.

20% more homes sold in August vs. July, and 10% fewer new listings were added to the market - which means overall supply decreased. Months of inventory available went down a notch to 1.5 months, and we see no signs of exiting a seller's market. The average sales price was a hair down from July, but still 5% more than August of last year. Homes are still selling at an average of 99% of the listing price at the time the offer was made. 

Overall, for buyers the competition may feel slightly less intense. Some sellers may be more hesitant to list, but armed with this data and a real estate agent who knows how to price for the market, and they will continue to reap the benefits of the seller's market.

To speak with an agent about making the most of the market for buyers, sellers or investors - or if you're just curious about real estate - give us a call at (828) 771-2339!