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BiggerPockets Daily
3 Months After a Generational Storm, Here's How Asheville's Recovering
Feb 22, 2025
The podcast dives into Asheville's real estate landscape following Hurricane Helene, revealing a steep decline in home sales and property values. It showcases the community's resilience as residents and organizations come together to aid recovery efforts. Insights from real estate professionals highlight the challenges faced and the cautious optimism permeating the market as indicators of stabilization emerge. Listeners will find inspiration in the stories of recovery and the spirit of collaboration within the community.
10:44
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Quick takeaways
- The impact of Hurricane Helene caused a significant decline in home sales and increased property values, reshaping Asheville's real estate market.
- Community resilience and grassroots efforts have been vital in Asheville's recovery, indicating the importance of local support in overcoming disasters.
Deep dives
Impact of Hurricane Helene on Asheville's Real Estate Market
Hurricane Helene significantly disrupted the real estate market in Asheville, leading to a dramatic drop in home sales and rising property values. After the hurricane, the average sale to list price decreased by 1.9%, while the number of homes sold plummeted nearly 40% from the previous year, and homes remained on the market for 20% longer than before. This serves as a stark reminder of how natural disasters can dramatically alter local economies, especially in areas that were previously thriving. The devastation included extensive flooding and mudslides, severely affecting infrastructure and diminishing the attractiveness of Asheville as a desirable housing market.
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Discover
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