Asheville housing market shifts toward balanced market in 2026

Multiple local broker reports and regional MLS data show Asheville-area housing conditions shifted toward a more balanced market in 2025, carrying into 2026 as buyers find more choices and sellers face longer selling times.

The shift follows disruption from Tropical Storm Helene in late 2024, which several sources say created softer year-over-year comparisons and a temporary dip in activity. Canopy MLS noted the “lasting effects of Hurricane Helene,” and said rebuilding has brought more listings to market while buyer demand remains steady, moving conditions toward greater balance.

The metrics underline that change but vary by reporting period and geography. MyMosaicRealty’s Q2 2025 analysis reported Asheville’s median sale price “rose from $488,000 to $535,000” and put Buncombe County at $479,000 in Q2. Mosaic Community Lifestyle Realty’s fourth-quarter 2025 report, cited for year-end figures, placed Asheville’s median at “around $500,000 in 2025,” about a 2 percent increase from 2024, and Buncombe County’s median at $477,000 with “no increase from 2024.” MyMosaic cautioned that “these changes reflect shifts in listing types more than drastic price hikes.”

Sales velocity slowed. Mosaic’s fourth-quarter report put Asheville’s average days on market at 66 in 2025, “an increase of 19 days - or 40% - compared to 2024.” Canopy MLS reported a 12.9 percent rise in days on market to 70 days across the 13 mountain counties it tracks and said inventory “more than doubled, rising 102.6 percent to 158 homes for sale,” pushing months supply to 7.5 months. Canopy also reported closed sales in November rose 31 percent year-over-year to 764, though closings were down 19.7 percent month-over-month from October. Canopy observed the average sales price jumped 64.6 percent to $745,452 in November, driven by a higher share of high-end transactions.

National patterns mirror local trends. Redfin reported roughly 40,000 home-purchase agreements were canceled in December, about 16.3 percent of pending sales, and Chen Zhao, Redfin’s head of economic research, said high inventory and high costs have made buyers “selective.” Locally, MyMosaic noted “buyers are seeing more options across the board, even in popular neighborhoods such as Kenilworth, Montford and West Asheville.”

Local brokers are adjusting tactics. Mike Figura of Mosaic Community Lifestyle Realty warned market psychology can flip quickly: “That psychology can change fairly fast. As soon as people start missing out on homes, then that feat of missing out kicks in.” Ashevillerealtygroup summarized the change this way: “I wouldn’t go as far as to call it a buyer’s market, but it has definitely become more balanced,” and added that “the days of instant multiple offers on everything? That window is closing.” That brokerage also said buyers are negotiating again and seller concessions such as repair credits and closing-cost help have returned.

Luxury-market commentary stresses selectivity rather than broad weakness. AshevilleLuxuryBrokers said “Asheville’s luxury real estate scene is driven by lifestyle more than headlines,” and expects continued interest from second-home buyers, relocations and right-sizing into 2026, with inventory remaining selective for high-quality homes.

For Buncombe County residents, the immediate implications are practical: buyers have more leverage and options, but desirable, well-priced, well-staged homes still move quickly; sellers should prioritize correct pricing and presentation. As local data and broker commentary show, inventory and buyer selectivity will shape the first quarter of 2026, and, as Mike Figura reminded, sentiment can reverse swiftly if competition returns.