The Asheville luxury home market is growing year after year. In the last ten years, Asheville luxury home sales have increased by a whopping 300%.
More homes are going up for sale and volume is increasing.
The entry barrier for the Asheville luxury market is around $800,000. With that being said, what do these luxury homes look like?
Do they follow the typical style of other urban luxury markets? Are they centered downtown or dispersed? What makes them special?
Asheville is a unique city. With only about 100,000 citizens, it’s not the biggest town around, but it has a huge heart.
In this article, we’re going to talk about the general features of Asheville luxury homes and why it’s such a beautiful and lucrative city to live in.
1. Asheville Luxury Home Architecture Variations
Much of the Asheville luxury home market is dominated by three architectural styles.
Traditional, Arts and Crafts, and Contemporary.
In 2019, 210 luxury homes sold in Asheville that were priced $800,000+. The most common style that was closed on was traditional, selling 40 out of the 210, or 19% of the market.
The second most common was Arts and Crafts with 17% market share and Contemporary clocking in at third place with 16% market share.
The three styles combine for over half the market.
You’ll find many variations of these styles throughout Asheville and it’s surrounding regions. In Biltmore Park, one of Asheville’s most prized neighborhoods, you’ll find scores of traditional luxury housing on standard cookie-cutter lots, something rare in Western North Carolina.
However, if you traverse the Sunset Mountain ridgeline just above the famous Omni Grove Park Inn, you’ll discover many different contemporary designs and intriguing ideas that can appeal to any luxury buyer.
Because the Asheville luxury market is so varied and different, buying and selling luxury homes here is fantastic, since it’s much easier to narrow down marketing and appeal to a particular sort of buyer.
2. Endless and Ageless Views
If there’s any reason to visit Asheville, it’s to see spectacular mountain ranges from almost anywhere. So why not buy a home with a view?
Luxury homes in Asheville can have some of the greatest views money can buy. In fact, often homes are priced above their true value because of having a magnificent view.
Whether properties that are priced higher sell well or not is up for debate. It’s hard to justify a $400,000 house listed at $1,000,000 simply because it has a view of Mount Mitchell, the largest peak in the United States east of the Mississippi River.
Despite properties like them, you’ll find many beautiful luxury homes with an incredible view of the Appalachian Mountains priced perfectly. Making it worth waking up every morning, with the Sun level with you, feeling closer to the sky than your neighbor (who’s down the mountain without a view).
3. An Abundance of Open Floor Plans
We all know that open floor plans are sought after in today’s global luxury market. Asheville’s no exception.
Asheville builders, like Biltmore Farms, have done a fantastic job of incorporating open floor plans into their designs, no matter the architecture.
What makes open floor plans even better in Asheville is that luxury homes here tend to be in areas where there is an abundance of natural light due to being placed on mountain tops or ridges.
This means that even the most basic traditional homes can take advantage of the heavenly light that falls on Asheville.
It’s good news for everyone, especially the luxury buyers who want to bring in a designer after purchasing since it gives them full control over the style and layout of the space.
Sellers, on the other hand, get to take advantage of better staging layouts. If you don’t plan on staging your home. I wrote this article about why it’s essential for luxury properties to get staged.
4. You Probably Live on a Mountain, Lake, or Both
Asheville luxury homes generally fall somewhere on a mountain, a lake, or sometimes both. There’s a low chance that you’ll find anything else.
This is a good though. Asheville prides itself on having countless outdoor activities. Residing on a lake or a mountain means you have immediate access to kayaking, tubing, hiking, and much more.
Some of the best luxury neighborhoods that feature a natural amenity are Beaver Lake, just north of downtown Asheville, Sunset Mountain, and The Cliffs at Walnut Cove (The most fun name).
Having these amenities is something exclusive to cities like Asheville. You wouldn’t find a swimmable lake in Florida, let alone a mountain.
As much as New York City is a hotspot for luxury home sales, no one is about to take a dip in the Hudson.
Living in Asheville breathes a luxurious lifestyle built on nature and wellness. A welcome life in the fast-paced, hustle and bustle world.
5. The Best Outdoor Living Spaces
What’s better than an outdoor living space? An outdoor living space with a view that wraps around your home and even features wildlife (the friendly kind, for the most part).
Owning an Asheville luxury home means you probably have one of the best views in the world, giving you get an awesome space to relax and enjoy the painting-like sight.
Simply put, outdoor living spaces in Asheville are premiums in the luxury market.
Spending time with family and friends while lounging on a deck that wraps around the rear-facing exterior with a craftsman grill, oak picnic table, a roaring stone-built fire pit, and potent orange and red autumn trees across the mountainous landscape, is how life should be lived.
It really doesn’t get better than that.
You can scavenge Philadelphia, New York, Austin, Houston, and Orlando for an experience like that. And while you might find some spots that may be able to live up to half of that. You’ll never find anything that comes at a lower price tag and matches the eccentric beauty of Asheville, North Carolina.
Seriously, you could buy a visual like that in Asheville for $1.1 million but pay $2.5 million for half of that in Philadelphia.
So do the right thing and buy an Asheville luxury home.
The Future is Bright
Asheville is only as of late becoming a dominant force in terms of luxury homes.
The city’s economy is growing, and its tourism industry is booming. Asheville is only going to continue to attract new wealth.
It’s under the radar right now, but in a global market that has buyers looking for luxury investments. I would bet that Asheville luxury homes will continue to appreciate in value and may become a solid spot for investments.
Even as an overall slow down in luxury home sales begins to take shape, Asheville’s momentum may null the effect.
If you’re thinking about purchasing property in Asheville, reach out to my email: firstname.lastname@example.org