Congratulations to our October 2025 Peak Performers!

We’re proud to celebrate the outstanding accomplishments of our top agents this month:

Top Producer – Grady Bradshaw, 828-455-9630

Top Listing Agent – Sandy Lindsey, 828-230-5816

Top Buyer Agent – Ann Clark, 828-712-0033

Your dedication and excellence continue to set the bar high!

– Preferred Properties of Asheville –

preferredprop.com | 828-258-2953

#PreferredPropertiesAVL #AshevilleRealEstate #TopAgents #RealEstateExcellence #PeakPerformers #WNCRealEstate #OctoberTopProducers #ListingAgent #BuyerAgent

 

Home Value (also referred to as Market Value)

Definition:
The value of a home is the amount a property is actually worth in the current market. This value is determined based on several factors, such as:

Comparable Sales (Comps): The sale prices of similar homes nearby that were recently sold.

Location: How desirable the home’s neighborhood is, its proximity to schools, work, public transportation, and amenities like parks or shopping centers.

Condition of the Property: The state of the home, including any renovations or repairs that have been done, or if it's in need of updating.

Market Conditions: Current economic factors, like interest rates, the supply of homes for sale, and the overall demand from buyers.

Appraisal: A professional appraisal is often conducted by a licensed appraiser to establish an objective value based on all these factors.

 

Key Point:
Home value is a more objective measure, reflecting what buyers and sellers in the market are willing to pay for a property. It’s based on data and current market conditions. Home value can fluctuate over time based on changes in these factors.

 

 

 

Listing Price (also known as Asking Price)

Definition:
The listing price is the amount a seller decides to ask for when putting a home on the market. It’s the price the seller hopes to receive but is often open to negotiation. The listing price can vary depending on the seller's motivation, market trends, and their perception of the home’s value.

Factors Influencing Listing Price:

Seller’s Goals and Motivation: If a seller needs to move quickly (due to a job relocation, financial need, etc.), they might list the home at a lower price to attract offers quickly. Conversely, if they’re not in a hurry to sell, they might set a higher price and be more patient.

Perceived Home Value: Sometimes sellers price their home based on a sense of what they believe the home is worth rather than relying on objective market data.

Real Estate Agent Strategy: An agent may suggest a price based on current market trends, comparable sales, and buyer demand in the area. Sometimes, agents will recommend a price that’s slightly above or below the home’s actual value to either create demand or encourage negotiation.

Negotiation Room: Many sellers will price their homes slightly higher than their target sales price, anticipating that buyers will negotiate and come in with offers lower than the asking price. This gives room for flexibility.
 

How the Two Are Related:

• Overpricing: If a home is listed for more than its actual value, it might sit on the market for a long time without receiving offers. Buyers will often recognize the discrepancy between the listing price and the home’s value, especially if comps in the neighborhood show lower sale prices for similar homes.

• Underpricing: If a home is listed below its true market value, it could create a bidding war, where multiple buyers make offers, potentially driving the final sale price above the listing price. However, underpricing can also lead to quick offers but leave the seller with less than what the property is truly worth.

• Strategic Pricing: Some sellers list their homes slightly below market value to attract more buyers quickly, then adjust the price once there’s significant interest, or they may price it higher with the expectation of negotiating down.
   

Why the Difference Matters:

For Buyers:

Understanding the difference can help you assess if a home is overpriced or a good deal. If a home’s listing price is much higher than similar homes in the area, you might be hesitant to make an offer. However, if the home is priced too low, there could be a risk of it being undervalued, or there might be underlying issues (structural problems, needed repairs) driving the price down.

For Sellers:

Knowing the difference can help you price your home more effectively. If you set the listing price too high, you risk alienating potential buyers, especially in a buyer’s market or a market with high interest rates. If you price too low, you might sell quickly but leave money on the table.

For Agents:

Real estate agents play a crucial role in helping sellers understand the true market value of their home and in setting a competitive but realistic listing price. They rely on CMAs (Comparative Market Analyses) to suggest a price that aligns closely with the home's value in the current market conditions.
​

The listing price is what the seller is asking, and it often doesn’t reflect the true value of the home. The value is a more grounded, data-driven estimate of what the home is likely worth in the market. The difference between the two can have a significant impact on how quickly a home sells and for what price.

If you’re buying or selling a home, it’s essential to understand this distinction so that you can make informed decisions and avoid pricing traps—whether that means adjusting your listing price or ensuring you’re not overpaying for a home that’s listed too high.

 

At Preferred Properties of Asheville, we’re keeping a close eye on the market so you don’t have to. Here’s a quick look at the August housing market statistics:

City of Asheville

Average Sales Price: $717,661

Average List Price: $717,730

Closed Sales: 150

Pending Sales: 173

Days on Market (until sale): 73

Inventory of Homes for Sale: 899

Buncombe County

Average Sales Price: $644,648

Average List Price: $689,267

Closed Sales: 287

Pending Sales: 314

Days on Market (until sale): 67

Inventory of Homes for Sale: 1,684

Asheville Region

(Includes Buncombe, Burke, Haywood, Henderson, Jackson, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania, and Yancey Counties)

Average Sales Price: $561,656

Average List Price: $620,117

Closed Sales: 885

Pending Sales: 1,005

Days on Market (until sale): 63

Inventory of Homes for Sale: 4,999

What it means: Inventory is up across the board, giving buyers more options. Prices have softened slightly in Asheville and Buncombe, but remain steady in the broader region. Sellers should be prepared for longer days on market, while buyers may find more negotiating power.

Thinking about making a move? Call our agents on duty today!

www.preferredprop.com

828-258-2953

#AshevilleRealEstate #MarketUpdate #BuncombeCountyHomes #AshevilleHomes #RealEstateMarket #asheville #ashevillenc

✨ PRICE IMPROVEMENT – Now $199,500! 
($25,000 reduction!)
📍 25 Liner Ct, Waynesville, NC
🏡 2 Bedrooms | 1 Bath | 740 Sqft | 0.07 Acres
MLS4276868
Totally renovated and move-in ready! This charming Waynesville home features:
✔️ New roof + low-maintenance vinyl exterior
✔️ Central AC/heat pump (2018)
✔️ Kitchen appliances (2018) + washer/dryer (2024)
✔️ Covered deck with Weber grill & fenced side yard
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Conveniently close to shopping, dining, schools, and historic downtown Waynesville—just 1 mile away! Perfect as a personal home, affordable starter, or income-producing rental.
Contact Listing Agent
James McDuffie
828-275-8890
 

#WaynesvilleNC #WesternNCRealEstate #PriceImprovement #StarterHome #WNCRealEstate

May 2025 Housing Market Update

In Buncombe County, The City of Asheville, and the Asheville Region.

 

 

Buncombe County – May 2025 Summary

New Listings: Up 36.9% (698 homes) compared to May 2024.

Closed Sales: Down 20.6% (285 homes).

Average Sales Price: Dropped 11.1% to $611,124.

Inventory: Rose 81.1% to 1,518 homes for sale.

Months Supply of Inventory: Increased from 2.9 to 5.9 (up 103.4%). 6 months is considered a balanced market

Days on Market Until Sale: Increased 18.9% to 44 days.

City of Asheville – May 2025 Summary

New Listings: Rose 41.7% (367 homes).

Closed Sales: Dropped 9.8% (157 homes).

Average Sales Price: Declined 17.0% to $616,034.

Inventory: Up 90% to 819 homes.

Months Supply of Inventory: Jumped from 2.9 to 6.1 (up 110.3%). 6 months is considered a balanced market

Days on Market Until Sale: Increased significantly to 46 days (+35.3%).

Asheville Region – May 2025 Summary

(Covers 13 counties including Buncombe)

New Listings: Up 28.5% (1,844 homes).

Closed Sales: Fell 13.8% (839 homes).

Average Sales Price: Decreased 7.5% to $504,917.

Inventory: Increased 57.3% to 4,488 homes.

Months Supply of Inventory: Jumped from 3.4 to 5.8 (up 70.6%). 6 months is considered a balanced market

Days on Market Until Sale: Increased to 53 days (+20.5%).

Have questions? Give our floor duty agent a call today:

www.preferredprop.com

Preferred Properties of Asheville

#ashevillelistingagent #ashevillenc #asheville #homesinnc #wnchomes #HousingMarket2025 #realestate #realestateagent #homesforsale #AshevilleRealEstate #BuncombeCountyRealEstate #AshevilleHomes #WNCRealEstate #JustListed #NewListing #OpenHouse #DreamHome #AshevilleLiving #MountainsOfNC #HousingMarketUpdate

 Price to Today’s Reality, Not Yesterday’s Peak

• Many sellers are anchored to 2021–2022 peak prices. That market is gone.

• Median sale prices have softened or plateaued in parts of Buncombe. Price reductions are increasingly common, especially for homes over $700k.

• Price just under key thresholds ($499k instead of $510k) to boost search hits on Zillow, Realtor.com, etc.

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  Location-Based Strategy

• Homes in rural or mountain areas (Leicester, Fairview, Barnardsville) take longer to sell now unless they offer strong value or unique appeal.

• Highlight walkability for in-town homes (West Asheville, Montford, North AVL) and view/privacy for rural homes.

• Reframe location-based challenges: e.g., “30 mins to downtown, but only 10 mins to Weaverville & Blue Ridge Parkway.”

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 Condition is King

• Buyers in a cautious market are more selective. Even minor flaws = deal-breakers.

• Invest in:

  • New interior paint (neutral colors)

  • Updated fixtures

  • Landscaping cleanup

• Staging is worth it, especially in more expensive or vacant homes.

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Refocus on Buyer Needs

• Some buyers’ agents are struggling to find homes that feel “worth it.”

• Offer bonus commission on stale listings for buyer agents.

• Have Broker-only tours with catered food from local restaurants.

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 Final Advice:

• This isn't just a market slowdown—it's a market shift.

• The sellers who adapt fastest—will still thrive.

• Buyers are out there—they're just pickier, slower, and more value-conscious. Speak their language.

 

 

You can also download a PDF here.

We truly are both local and global. Our global reach in over 70 countries allows us to offer unparalleled marketing and expertise, while our strong local ties ensure that our clients receive personalized, attentive service. We blend the best of both worlds for exceptional results with a human touch.

Preferred Properties, is not just local.

Through our affiliation with Leading Real Estate Companies of the World® we are globally connected to over 550 of the world’s best brokerage firms. Last year, our invitation-only network, LeadingRE, was responsible for $353 billion in annual home sales volume among the top 500 U.S. real estate firms — more than any other network, national company, or franchise. These numbers solidify our commitment to excellence and our ability to deliver exceptional results for our clients. Let me show you how our Network compares to some of our competitors who you might be considering working with. 

We Market Your Property the World

As our global footprint shrinks, we know that buyers can come from anywhere in the world. As part of my marketing efforts, I will market your property to the highest possible number of potential buyers worldwide seamlessly through my affiliation with Leading Real Estate Companies of the World®. This relationship of mine provides me access to over 134,000 real estate professionals in over 70 countries. Through our listing portals, we expose your property to agent and their buyers.”

As a locally branded firm, we have an in-depth understanding of local market dynamics, trends, and regulations, allowing us to provide tailored advice and insights specific to your area. Additionally, we have established connections and relationships within the community, which can be invaluable when buying or selling a home. Our real estate network is comprised of the very best locally and regionally branded professionals in the United States. With a focus on local markets and a broad national/ global view, as a sales associate affiliated with LeadingRE, we can ensure the best personal attention while providing access to quality real estate connections on a larger scale. This combination allows us to offer comprehensive support tailored to your specific needs, whether you’re buying or selling a home.

Are you visiting Asheville, NC for the holidays?
Did you know that Asheville is renowned for its historic homes that reflect a diverse architectural heritage and the city's cultural evolution? Here are some fascinating facts about Asheville's architectural history.
Diverse Architectural Styles
Asheville's historic neighborhoods feature a wide array of architectural styles, including Victorian, Arts and Crafts, Colonial Revival, Tudor Revival, and Mid-Century Modern.
The Grove Park Historic District is particularly famous for its Arts and Crafts-style homes, many of which were influenced by the work of architect Richard Sharp Smith.
Biltmore Village Connection (Currently being re-built after Helene Flooding)
Biltmore Village, developed by George W. Vanderbilt in the late 19th century, was originally built to house workers for the Biltmore Estate. Many of its homes were designed by Richard Morris Hunt, blending Tudor Revival and Arts and Crafts styles.
Thomas Wolfe's Birthplace
The Thomas Wolfe Memorial, also known as the "Old Kentucky Home," is a historic house that inspired Wolfe's famous novel, Look Homeward, Angel. This 29-room Queen Anne-style boarding house was run by Wolfe’s mother in the early 20th century.
Montford Historic District
The Montford Historic District is one of Asheville’s most famous neighborhoods, listed on the National Register of Historic Places.
It showcases homes built between the late 19th and early 20th centuries, blending Queen Anne, Colonial Revival, and Arts and Crafts styles.
Unique Construction Materials
Many homes in Asheville incorporate local materials, such as river rock and timber, which were readily available in the region. This is particularly evident in Arts and Crafts-style homes.
The Influence of the Arts and Crafts Movement
Asheville became a hub for the Arts and Crafts movement in the early 20th century, influenced by the establishment of the Biltmore Industries by Eleanor Vance and Charlotte Yale.
This movement emphasized craftsmanship and harmony with nature, which is reflected in many historic homes in the area.
Preservation Efforts
Asheville has a strong commitment to preserving its historic homes and neighborhoods. The Historic Resources Commission of Asheville and Buncombe County oversees preservation efforts and helps maintain the city’s architectural legacy.
Hidden Gems
The Smith-McDowell House, Asheville’s oldest surviving house (circa 1840), is now a museum showcasing local history and the lives of its early inhabitants.
Grove Arcade’s Ties to Residential History
Although primarily a commercial building, the Grove Arcade was originally envisioned as a mixed-use development, reflecting Asheville's early aspirations for innovative living spaces.
Storybook Elements
Some homes in Asheville resemble storybook cottages, with whimsical designs that include steeply pitched roofs, rounded doorways, and ornate woodwork.
These homes are not only architectural treasures but also offer a glimpse into Asheville's vibrant past, showcasing the lives of the people who shaped the city into what it is today. If you’re interested in exploring these homes further, there are walking tours and guides dedicated to Asheville's historic neighborhoods.
#ashevillerealestate #ashevillehistory #ashevillearchitecture #ashevilleneighborhoods







 

Wrapping Up the Year: Why End-of-Year Real Estate Transactions Can Be a Smart Move

As the year winds down, many people turn their attention to holiday festivities, family gatherings, and upcoming resolutions. However, for savvy homebuyers and sellers, the end of the year also presents a unique opportunity in the real estate market. At Preferred Properties of Asheville, we often see a surge of activity during this season, and for good reason. Let’s explore why closing a real estate transaction at the end of the year can be an incredibly smart move.

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1. Motivated Buyers and Sellers

Year-end real estate activity often involves highly motivated buyers and sellers. Homeowners looking to sell before the new year may be eager to wrap up their sale, whether for financial, tax, or relocation reasons. On the flip side, buyers who are searching this time of year are typically serious about closing quickly. This mutual motivation can create a win-win scenario for both parties.

If you’re a buyer, you may find sellers more flexible with pricing and terms. If you’re selling, the reduced competition on the market can help your property stand out to motivated buyers.

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2. Tax Benefits for Buyers and Sellers

One major advantage of completing a transaction before December 31st is the potential tax benefits.

• For Buyers: Closing on a property before year-end allows you to deduct mortgage interest, property taxes, and certain closing costs for the current tax year. These deductions can significantly reduce your taxable income and potentially lead to a larger tax refund.

• For Sellers: If you’re looking to offset gains or losses for tax purposes, selling your home before the year ends can provide a clear financial advantage.

If you’re uncertain about how a real estate transaction might impact your taxes, we recommend consulting with a trusted financial advisor.

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3. Less Competition and More Negotiation Power

Traditionally, the winter months see fewer listings and reduced market activity compared to the spring and summer seasons. While this may sound like a drawback, it can actually work to your advantage.

• For Buyers: With fewer buyers actively shopping, there is less competition for available homes. You may also have more room to negotiate price or terms, such as closing costs or repairs.

• For Sellers: While there may be fewer buyers, the ones who are looking are often serious and ready to move quickly, reducing the likelihood of lengthy negotiations or last-minute hurdles.

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4. Favorable Mortgage Rates and Loan Processing

Historically, lenders often aim to meet their year-end quotas, which means buyers may benefit from slightly more favorable mortgage rates or faster loan processing times. Working with a reputable lender during this time of year can help streamline the process and ensure you close smoothly and on schedule.

Additionally, securing a lower interest rate now can save buyers thousands of dollars over the life of their mortgage—a strong incentive to act before the new year.

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5. Relocation Timing for the New Year

Many families and professionals choose the end of the year to relocate, aligning their move with school breaks, job transfers, or new opportunities starting in January. Closing before the year ends allows for a seamless transition into a new home and a fresh start for the upcoming year.

For sellers, marketing your home to those with relocation needs can help attract motivated buyers looking to settle in quickly.

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Tips for a Smooth End-of-Year Closing

If you’re considering buying or selling during this time of year, here are a few tips to ensure success:

1. Work with Experienced Real Estate Agents: Our team at Preferred Properties of Asheville is well-versed in navigating year-end transactions. We’re here to handle the details and keep things stress-free.

2. Be Organized: Have all necessary documents ready, from financial statements to inspection reports.

3. Plan Ahead: Lenders, inspectors, and other professionals may have limited availability due to holidays, so schedule appointments early.

4. Stay Flexible: Flexibility with closing dates or terms can help move the process forward efficiently.

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Make the Most of the Year-End Market

While it may seem unconventional to buy or sell a home during the holidays, the year-end real estate market offers unique benefits for those who seize the opportunity. Whether you’re looking to take advantage of tax incentives, negotiate favorable terms, or start the new year in a new home, our team at Preferred Properties of Asheville is here to guide you every step of the way.

Ready to explore your options? Contact us today to learn how we can help you achieve your real estate goals before the clock strikes midnight on December 31st.