The real estate market in Western North Carolina has been on an upward trend over the past few years, and the trend is expected to continue in the coming weeks. The region is home to popular tourist destinations such as Asheville, which has been ranked as one of the top places to live in the United States.
According to recent reports, the median home value in Western North Carolina is $268,100, which has increased by 9.5% over the past year. This growth is attributed to many factors such as low inventory and increased demand for homes in the region.
One of the areas that currently have a strong real estate market is Asheville. The city’s vibrant culture, arts scene, and proximity to outdoor activities have made it a top destination for people looking to relocate. The median home price in Asheville is $374,700, which is a 7.7% increase from last year.
Another area with a strong real estate market is Hendersonville. The city’s charming downtown area, access to outdoor recreation, and affordability have made it an attractive option for retirees and families alike. The median home price in Hendersonville is $251,000, which is a 10.2% increase from last year.
As for the impact of the pandemic on the real estate market, Western North Carolina has seen a surge in demand for real estate properties as people move out of crowded urban areas and into more rural areas with more space and fresh air. Remote work has also contributed to this trend as more people are now able to move to areas that were not previously feasible due to work constraints.
In conclusion, the real estate market in Western North Carolina is currently experiencing growth and is expected to continue to do so in the coming weeks. The demand for real estate properties in the region will continue to increase, and buyers should expect competitive housing markets with multiple offers on available properties.
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