Editor's Note: Asheville and Western North Carolina real estate performed beyond all expectations during the second quarter of 2020, says Laura Livaudais, expert real estate agent in the area in this Q&A with Haute Residence
How did the second quarter of 2020 real estate perform in your market?
Simply put, our market performed beyond all expectations in the second quarter! Gratefully, our phones have not stopped ringing with prospective (and eager) buyers from areas of the country hit hardest by the pandemic. Buyers seeking less congested living, more open spaces, and closer proximity to nature have zeroed in on WNC generally and Asheville specifically. The good thing about Asheville is that we are buffered in a lot of ways from challenges faced by other overcrowded cities just because of our lifestyle element - referring to our reputation for easily available healthy outdoor organic living. It only makes Asheville all the more appealing.
Photo Credit: John Warner
Compared to high density areas like New York, Chicago, Miami and Los Angeles, Asheville’s affordability quotient is also attractive. With so many people recently having been driven by necessity to the “remote work from home” option, Asheville’s cost of living has been discovered as being very reasonably priced - even inexpensive by some people’s standards. Yet, for a town with less than 90,000 people, Asheville still offers James Beard award winning restaurants, local engaging wineries, thriving craft beer industries, a nationally recognized live music scene, a vibrant arts scene, a symphony, the ballet, multiple live theaters, and every imaginable outdoor activity whether on land or in water. Quite an array of entertaining offerings for a town of this ‘boutique’ size - don’t you think?
People are discovering that Asheville really truly is one of the happiest places to live - in the entire world - as revealed by Eric Weiner in his book “The Geography of Bliss.”
Photo Credit: John Warner
What do you love about the housing market in your market?
The people. The sellers and the buyers. Gracious Southern kindness flourishes here. As a result, the Asheville area remains attractive to the majority of people nationwide. Frequently, for at least the last dozen years, Asheville may be found on multiple national “best of” lists.
Like much of this region’s economy in general, our real estate sometimes depends on tourism, as some home buyers often come here first on vacation and then often schedule return trips shopping for homes. Asheville always has been a “haven” for a broad range of transplants, second home buyers and retirees of all ages. Population has been on the rise here for more than 40 years and has a resounding impact on the entirety of the Asheville housing market.
Photo Credit: Leighton Grant
The slowdown caused by the virus initially affected both buyers and sellers. However, being graced with record low interest rates, a pent-up spring demand and a shortage of listings, we are currently in the midst of a fast paced seller’s market. Locally, even with all of the challenges posed by the pandemic, agents surmise that the Asheville area will see a quicker recovery than most places in the country - thanks to the abundance of open spaces and access to nature.
Lastly, the broad range of architectural options in Asheville keeps my love of this housing market lively. From modern to historic, from high rise to one level living - possibilities abound!
Photo Credit: John Warner
