Real Estate Market: Good for You?

Housing in Asheville, North Carolina tends to cost a bit more than the national average, but in comparison to larger cities, is still fairly manageable.

Asheville is located at an elevation of about 2,800 feet, and is surrounded by the Blue Ridge Mountains. One of the most desirable reasons people relocate to the area is the mild year-round climate, never getting too hot in the summer, or too cold in the winter. There is a diverse assortment of entertainment and sights to see, from photo and art galleries, bookstores, and restaurants, to the infamous Biltmore Estate, located in South Asheville. Along with all of these wonderful attributes, Asheville is also a short drive away from many other great places to visit, such as: many recreational lakes, (an hour away or less) Gatlinburg/Pigeon Forge, Tennessee (roughly 90 minutes away, and home to Dollywood amusement park), Atlanta, Georgia (about three to four hours away), Charlotte, North Carolina (home to Carowinds amusement park, and about two to three hours away) and Myrtle Beach, South Carolina, (about five hours away).

According to the Reality Times, the Asheville market rating is a two out of five possible, meaning that the priority of the market is due to buyers, and not sellers. The current price trend is also rated at a two of five possible, meaning that it is in a falling state.

While the rest of the nation seems to be in a real estate slump, Asheville is only seeing a slight drop. For instance, also according to Reality Times, the average sales price for a condominium in the Downtown District in November and December of 2007 was about $283,000 or $227 per square foot. The average pricing was $285,057, or $253 per square foot. The market is still said to be very sturdy for investment purposes.

The market in Asheville is currently a buyer's market as there are plenty of vacant properties available for purchase, and the market is not saturated with a large number of potential buyers. Right now, buyers are in a position to allow themselves time to negotiate better deals and other issues in their favor. There is plenty of new construction in the area, allowing for a much wider range of homes to choose from.

As you can see, even though the prices are a bit higher than other markets nationwide, the price is worth the environment, and if you are looking to relocate, Asheville is a viable option for many people.