Asheville, North Carolina is the cultural center and capital of Western North Carolina.

Author : daniceking7
Publish Date : 2021-04-06


Asheville, North Carolina is the cultural center and capital of Western North Carolina.

With roughly 100,000 citizens in the metropolitan area and over 400,000 within its five-county sphere of influence, Asheville is a larger market than meets the eye.

While Asheville certainly has some of the most incredible views you’ll ever see, a rising city life, historic sites, and more. There are factors to consider within its housing market.

In this article, we’re going to go over a few points regarding the Asheville real estate market in 2020, including:

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Real Estate Market Trends
The Best Neighborhoods to Buy a Home
Economic Factors
Let’s dive in.

Asheville Regional Real Estate Market Trends
Over the last 10 years, the Asheville real estate market has grown significantly. We can define market growth based on the trends we’ve recorded over the last 20 years.

In this analysis, we’re going to account for the entire “Asheville Region”, a selection of counties where Asheville is the cultural center and has influence over market trends.

Asheville Region – Highlighted in red. Asheville is located in the center of Buncombe County.
Median Sales Price
The median sales price of a real estate market is one of the best indicators in showing market strength and affordability.

Asheville has seen consistent growth in median sales price over the last 8-10 years.

After the Great Recession of 2009, the market fell to a low point of $165,000 median sales price. Since then, the market appreciated to its current median sales price of $265,000, a 60% increase.

The trend doesn’t appear to be slowing down but based on the current economic environment due to the COVID-19 (coronavirus) outbreak. If current economic conditions continue, you may see a decline or stagnation of prices.

Median Days on Market
Days on Market (DOM) is an indicator that gives sellers a good idea of how long it will take to sell their home.

Lower DOM equals a competitive market. Asheville, NC is considered a balanced market as of March 2020, due to a median DOM of 74 total days.

The most prominent job market is health and educational services, with about 41,100 employees. But due to Asheville’s large tourist industry, the leisure and hospitality sector has about 28,600 employees.

While Asheville has a relatively balanced job market, my main concern is the lack of information and technology workers, the hottest job market in the nation. Asheville will lose out on these highly demanded workers to other, more attractive cities.

Despite this, the Asheville economy has a position for everyone at the moment.

Cost of Asheville Living
Asheville is right on par with the national average. If we compare here with the highest cost of living in the United States, Manhattan, New York. Asheville is considerably lower.

A $50,000 yearly salary in Asheville is equal to $120,000 in Manhattan.

If you’re moving from another city to Asheville, you can use this calculator to figure out the difference in the cost of living.

Final Thoughts
Asheville is a fantastic city to move to if you’re looking for a growing economy, a solid housing market, and mountain living.

While I believe Asheville will face economic issues in the future due to the geographical and job sector challenges, I wouldn’t worry just yet, as those issues will arise far down the line.

If you’re thinking about buying a new home in the region, I’d be happy to help you.

Stay Classy.


Stay Classy.

Looking at the chart below, it’s hard to argue that the Houston economy is not built for sustainability.


Despite being a major energy-focused city, Houston has an extremely diversified and balanced job market.

Keep in mind that the entire energy industry is not going to lay off all of its employees. Even if Houston lost 20% of its energy labor force (a very high number), they would still be well prepared for the economic fallout.

You wouldn’t see a huge reduction of wealth in real estate, compared to a smaller town like Williston, ND.

Williston, a town that at one point, had over a third of its labor market employed in the energy industry.

A major oil boom back in 2010 brought people from across the nation to the Southwestern North Dakota town to take part in the profits oil companies were reaping. Come 2015, the oil boom was slowing down, and many employees found themselves jobless and displaced.

This led to stagnant growth in the real estate market.

Energy isn’t even the leading labor market now. It goes to show the effect oil boom-and-bust cycles can have on economies.

The Point in All of This
My point in this analysis is that the oil crisis could displace a lot of smaller communities that rely on oil production for their economic stability.

If prices remain low and Saudi Arabia is able to gain control of the oil market for years to come, we might be on the verge of economic stagnation, or collapse, in these smaller, rural towns. Obviously, dragging down the real estate market along with it.

Let me know what you think of the economic crisis and how it could be handled in the comments below.

If you’re an investor, obviously, I recommend against investing in big oil states at the moment. I can assure you that Asheville would be the better choice.

Stay Classy.

Looking at the chart below, it’s hard to argue that the Houston economy is not built for sustainability.


Despite being a major energy-focused city, Houston has an extremely diversified and balanced job market.

Keep in mind that the entire energy industry is not going to lay off all of its employees. Even if Houston lost 20% of its energy labor force (a very high number), they would still be well prepared for the economic fallout.

You wouldn’t see a huge reduction of wealth in real estate, compared to a smaller town like Williston, ND.

Williston, a town that at one point, had over a third of its labor market employed in the energy industry.

A major oil boom back in 2010 brought people from across the nation to the Southwestern North Dakota town to take part in the profits oil companies were reaping. Come 2015, the oil boom was slowing down, and many employees found themselves jobless and displaced.

This led to stagnant growth in the real estate market.

Energy isn’t even the leading labor market now. It goes to show the effect oil boom-and-bust cycles can have on economies.

The Point in All of This
My point in this analysis is that the oil crisis could displace a lot of smaller communities that rely on oil production for their economic stability.

If prices remain low and Saudi Arabia is able to gain control of the oil market for years to come, we might be on the verge of economic stagnation, or collapse, in these smaller, rural towns. Obviously, dragging down the real estate market along with it.

Let me know what you think of the economic crisis and how it could be handled in the comments below.

If you’re an investor, obviously, I recommend against investing in big oil states at the moment. I can assure you that Asheville would be the better choice.

Stay Classy.

Stay Classy.

Looking at the chart below, it’s hard to argue that the Houston economy is not built for sustainability.


Despite being a major energy-focused city, Houston has an extremely diversified and balanced job market.

Keep in mind that the entire energy industry is not going to lay off all of its employees. Even if Houston lost 20% of its energy labor force (a very high number), they would still be well prepared for the economic fallout.

You wouldn’t see a huge reduction of wealth in real estate, compared to a smaller town like Williston, ND.

Williston, a town that at one point, had over a third of its labor market employed in the energy industry.

A major oil boom back in 2010 brought people from across the nation to the Southwestern North Dakota town to take part in the profits oil companies were reaping. Come 2015, the oil boom was slowing down, and many employees found themselves jobless and displaced.

This led to stagnant growth in the real estate market.

Energy isn’t even the leading labor market now. It goes to show the effect oil boom-and-bust cycles can have on economies.

The Point in All of This
My point in this analysis is that the oil crisis could displace a lot of smaller communities that rely on oil production for their economic stability.

If prices remain low and Saudi Arabia is able to gain control of the oil market for years to come, we might be on the verge of economic stagnation, or collapse, in these smaller, rural towns. Obviously, dragging down the real estate market along with it.

Let me know what you think of the economic crisis and how it could be handled in the comments below.

If you’re an investor, obviously, I recommend against investing in big oil states at the moment. I can assure you that Asheville would be the better choice.

Stay Classy.

Looking at the chart below, it’s hard to argue that the Houston economy is not built for sustainability.


Despite being a major energy-focused city, Houston has an extremely diversified and balanced job market.

Keep in mind that the entire energy industry is not going to lay off all of its employees. Even if Houston lost 20% of its energy labor force (a very high number), they would still be well prepared for the economic fallout.

You wouldn’t see a huge reduction of wealth in real estate, compared to a smaller town like Williston, ND.

Williston, a town that at one point, had over a third of its labor market employed in the energy industry.

A major oil boom back in 2010 brought people from across the nation to the Southwestern North Dakota town to take part in the profits oil companies were reaping. Come 2015, the oil boom was slowing down, and many employees found themselves jobless and displaced.

This led to stagnant growth in the real estate market.

Energy isn’t even the leading labor market now. It goes to show the effect oil boom-and-bust cycles can have on economies.

The Point in All of This
My point in this analysis is that the oil crisis could displace a lot of smaller communities that rely on oil production for their economic stability.

If prices remain low and Saudi Arabia is able to gain control of the oil market for years to come, we might be on the verge of economic stagnation, or collapse, in these smaller, rural towns. Obviously, dragging down the real estate market along with it.

Let me know what you



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