Asheville appreciation rates and housing market information

Asheville housing market information

With 68,952 people, 33,596 houses or apartments, and a median cost of homes of $220,573, Asheville real estate is some of the most expensive in North Carolina, although Asheville home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Asheville, accounting for 59.04% of the city's housing units. Other types of housing that are prevalent in Asheville include large apartment complexes or high rise apartments (20.49%), duplexes, homes converted to apartments, or other small apartment buildings (11.61%), mobile homes or trailers (4.79%), and a few row houses and other attached homes (3.95%).

People in Asheville primarily live in small (one, two, or no bedroom) single-family detached homes. Asheville has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Asheville's housing was primarily built during this period, from the '40s through the '60s. A full 39.92% of the city's housing hails from this era. Other housing ages represented in Asheville include homes built between 1970-1994 (30.34%), and housing constructed from 1939 and earlier (22.58%). There's also some housing in Asheville built between 1995 and later (7.16%).

Asheville home appreciation rates

In the last 10 years, Asheville has experienced some of the highest home appreciation rates of any community in the nation. Asheville real estate appreciated 119.39% over the last ten years, which is an average annual home appreciation rate of 11.93%, putting Asheville in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Asheville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Asheville that despite a nationwide downturn in the housing market, Asheville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Asheville appreciation rates continue to be some of the highest in America, at 3.14%, which is higher than appreciation rates in 76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Asheville. Asheville appreciation rates in the latest quarter were at -0.20%, which equates to an annual appreciation rate of -0.80%.

Relative to North Carolina, our data show that Asheville's latest annual appreciation rate is higher than 65% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Asheville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Asheville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Asheville real estate investment or home purchase decisions.