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Second Quarter Luxury Market Report

SECOND QUARTER RESULTS TRAIL 2017 SLIGHTLY BUT PENDING CONTRACTS SURGE

Western North Carolina and the Asheville area saw a surge in showings and pending contracts as we moved toward the third quarter and summer kicked into high gear in late June. The mid-market luxury segment ($500,000 to $999,000) saw fairly active sell thru with 73 homes selling in Buncombe County and another 48 pending as we move into the third quarter, while other western North Carolina communities saw similar conditions to last summer in the mid-market segment.

The luxury segment above $1 million saw 14 sales in Asheville, 5 in the Fairview/Fletcher quadrant, and another 4 in Hendersonville, all in line with, or slightly ahead of last year’s results during the same period.

Showing activity in Asheville in the luxury price segment continues to run almost 35% ahead of last year’s June/July period, indicative of improving conditions in the million dollar property segment.

While much of the mainstream media’s attention tends to be focused on reporting tight inventories and rising prices, it’s important to understand that today’s real estate market is “hyper local”, meaning its critical to understand what’s going on in a specific neighborhood, and beyond that, the price segments within that neighborhood/community. It’s entirely possible that one price segment can have high inventory conditions while another price segment can have limited inventory and very competitive conditions.

 

Click here to view the full report and see the neighborhood break downs! 


Agents in the Community – Dining Out For Life

 

On April 26, 2018, please join Kim Gentry Justus for the 16th annual Dining Out for Life benefit! Over 100 restaurants in the Asheville area will donate 20% of their gross sales to to support the Western North Carolina AIDS Project.

Kim has been a Dining Out For Life Ambassador for many years, along with her friends Bobby Hill and Mark Arrington, of BobbyMark’s Designs. The restaurant she supports is Carmel’s at the historic Grove Arcade in Downtown Asheville.

Last year over $160,000 was raised to support the WNCAP, so come out and support our local businesses, enjoy a delicious meal, and help donate to a great cause!

Kim Gentry Justus – 828.301.3330

Kim@IvesterJacksonBlackstream.com

View Kim’s Current listings

More information about Dining Out For Life:

 

Official Press Release:

You are cordially invited to join your friends, clients, family and co-workers on Thursday, April 26th, 2018, for
the 16th annual Dining Out For Life® benefit to support the Western North Carolina AIDS Project (WNCAP).

Over 100 of the finest restaurants in Western North Carolina have generously agreed to donate 20% of their gross sales on April 26th to enable us to meet the expanding needs of WNCAP. You can do your part by simply dining out for breakfast, lunch or dinner or all three.  We encourage you to visit our DOFL restaurants all year round and thank them for their kind support.  Check out the 2018 Participating Restaurants here.

A special thanks to all of our restaurants, sponsors and diners for making last year’s Dining Out For Life benefit another success story. Over $160,000 was raised to support the mission of WNCAP and thanks to our generous sponsors, less than 7% of that total went to cover expenses. Because of your generosity, we were able to add additional case managers to provide more services to rural areas of WNC, place more clients in housing & expand our Prevention and Education department.

Through the efforts of so many giving individuals, much-needed AIDS awareness and education has been sown throughout WNC, while providing case-managed care to those whose lives have already been affected by HIV/AIDS. Our sincere thanks to our 240 Ambassadors/volunteers for their incredible efforts.  We couldn’t have done it without you!


ASHEVILLE – TALE OF TWO CITIES

IvesterJackson Distinctive Properties & Blackstream International
are the exclusive affiliates of Christie’s International Real Estate in Asheville, North Carolina.

Asheville tells the tale of two cities by bringing together a historic mountain community with a modern urban downtown.

Land of the Sky

Nestled in a thermal valley of North Carolina’s Blue Ridge Mountains is a city the locals call Asheville, or, “Land of the Sky”. Poised at the confluence of the French Broad and Swannanoa Rivers – not far from where the Blue Ridge meet the Smoky Mountains – this verdant paradise is home to the oldest mountain range in the world. At an elevation of 2,500 feet, the moderate climate and four distinct seasons make this mountain paradise the perfect place to enjoy year-round.iStock_000051660082_XXXLarge

The Biltmore

Once part of the Cherokee Nation, the first the first Europeans came to the area in 1540, but it was not until 1784 that the history of Asheville as a town, began. A century later, at the height of the Gilded Age, George Vanderbilt’s vision brought the renowned talents of architect, Richard Morris Hunt, and landscape architect, Fredrick Law Ulmsted, to the Blue Ridge Mountains of North Carolina. Together, Hunt and Ulmsted transformed the rugged terrain along the French Broad River and created Biltmore House,
America’s largest home. Today, the 250-room chateau continues to attract guests to the area from around the world, just as it did when it was first opened to Vanderbilt’s guests on Christmas Day in 1895.Untitled-3

Roaring 20’s

In 1889, Asheville was the first city in North Carolina with electric rail streetcars. From the 1910s through the roaring 20s, Asheville grew to become the third largest city in the state, but that growth quickly halted with the crash of the stock market in 1929. At the time, Asheville had the largest municipal debt from infrastructure projects of any city in the US. It was not until the 1980’s, when that debt was finally repaid, that Asheville began to grow again. While slow to recover, the prior epoch ensured that the most complete collection of art deco buildings in North Carolina remained intact – the impetus for its future revival.

Where The Tale of Two Cities meets Tales of the City, the area boasts a literary history of triumph and tragedy as home to poet, Charles Sandburg, birthplace of novelist, Thomas Wolfe, and where F. Scott Fitzgerald retreated to the legendary Grove Park Inn to write in seclusion. While Armistead Maupin could easily have written any number of stories in Asheville’s progressive atmosphere, and Charles Dickens could have found inspiration in the cotswold-esque, Biltmore Village – the original township adjacent to the estate built to support the large workforce required to realize Vanderbilt’s grand endeavor – Wolfe never could have imagined the cultural jewel that Asheville would become.

Downtime

Where bluegrass licks meet the aristocratic culture of the past, Asheville offers the best food, accommodations, and recreation. The verdant mountainside of the National Parks and Forests that surround the city provide great trails for walking, hiking, and mountain biking. Not far from town, rushing waterfalls and scenic waterways are perfect for fishing, kayaking, and canoeing. The walkable urban core, public transportation, and any number of taxi or ride-share solutions provide easy access to the surrounding neighborhoods and main attractions.Untitled-1

From micro-breweries to farm-to-plate cuisine, diversity is the key to Asheville. The cosmopolitan city center with its sidewalk cafes, bistros, museums and architectural masterpieces has been referred to as, “The Paris of the South.” It’s renovated and rehabbed bohemian West side is now a vibrant socially-conscious hub for young creatives and families. Blending new with the old, many buildings and properties from the 30’s and 40’s that have been
transformed over the last decade. Bike shops, boutiques, pubs, and live performance venues on Haywood Street, the main thoroughfare, provide the best mix of urban and suburban amenities.

unspecified6Click here to learn more about our Asheville Office at 18 South Pack Square or VIEW OUR CURRENT ASHEVILLE LISTINGS.IJ-Blackstream-SideBySide-Grey