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Is Asheville Shifting to a Buyer’s Market? Here’s What You Need to Know
As we find ourselves in May 2025, Asheville’s real estate market is sparking discussions about whether it could be turning into a buyer’s market. While it may not be a full-fledged buyer’s market just yet, significant changes indicate a stronger balance between sellers and buyers.
Understanding the Shift: What’s Changing?
Inventory levels in Asheville are climbing, with days on the market stretching longer than before. The frantic competitive tactics previously found in home buying, such as waiving inspections or offering substantial due diligence fees, are fading. Instead, buyers are returning to the negotiating table, a shift that some may welcome after a period of overwhelming demand.
What Makes the Current Market Unique?
It’s essential to note that while many homes in highly sought-after areas—like North and West Asheville—are still selling quickly, the days of receiving multiple offers for every listing are dwindling. Sellers employing outdated pricing strategies from pre-interest rate changes are learning that today’s market favors price-conscious buyers, who are also expecting some level of accommodation or improvements.
Three Transformative Changes in the Market
1. **Importance of Pricing Strategy**: Homes priced too high are sitting unsold longer, often requiring price cuts. Sellers need to base their pricing on comparable sales from the past three to six months and understand market trends to set realistic expectations.
2. **Negotiation is Back**: Buyers are regaining their bargaining power. Requests for repairs, closing costs, and a more inclusive negotiating atmosphere are common, encouraging sellers to prepare for discussions that can protect their selling price while still appealing to buyers.
3. **Seller Concessions Are Resurfacing**: Those selling homes that aren’t move-in ready or that remain on the market for an extended period are finding that offering repair credits or covering closing costs is becoming increasingly relevant.
Deciding to Buy or Sell: A Strategic Approach
If you’re considering selling your property, it’s crucial to price it right and ensure it’s presented well to attract buyers. Although hot neighborhoods still see swift sales, overpricing can lead to stagnation. For buyers, increased inventory and negotiation capacity represent a formidable opportunity to secure desirable homes without yielding to overly competitive pressures.
Next Steps: Thinking About Your Real Estate Goals?
Navigating a changing market can feel daunting, but it’s also exciting. If you’re contemplating selling in Asheville or perhaps looking for a new place to call home, let’s connect! I’d love to share local insights and strategies tailored to your unique situation based on current trends and data.
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