10/13/2026
Asheville real estate brief
October 13, 2026
The market is cooling locally while financing tightens. Tuesday’s City Council meeting also contains several consequential—but not yet approved—housing and land-use decisions.
1. More listings are taking longer to sell
September’s Asheville-metro data, show month over month active listings +1.7% while median days on market are +5 days. September market time was 9.45% longer than a year earlier.
Meanwhile, Freddie Mac’s national 30-year average rose from 7.28% to 7.40% on October 8. On a $400,000, 30-year loan, that one-week increase adds approximately $33 a month in principal and interest. Sellers now face both growing competition and another reduction in financed buyers’ purchasing power. An older listing may need a meaningful price correction or a lender-priced concession—not merely refreshed photos or marketing.
2. Costco advances, but it is not approved yet
On October 7, Asheville’s Planning and Zoning Commission unanimously recommended the revised Enka Costco conditional zoning. The proposal includes a roughly 168,000-square-foot warehouse, 32 fuel pumps and 914 parking spaces. City Council has the final public hearing and vote scheduled for October 13. Approval would strengthen Enka/Candler’s retail draw and could influence traffic patterns and nearby commercial activity.
3. A significant housing package is scheduled for Tuesday
These remain proposals until Council acts October 13:
* Acceptance of $6 million for the Right at Home initiative, designed to provide rapid financial assistance and case management before households become homeless.
* Final local approval of a HOME-ARP amendment that would broaden rental assistance and supportive services.
* Approval of up to $9.75 million in revenue bonds for 319-B Biltmore, a planned 112-unit affordable family development. The agenda states that the City would have no financial obligation on the bonds.
* A final rezoning hearing for Asheville Habitat for Humanity’s proposed 23 affordable homes—18 attached and five detached—at Tried Street and West Chapel Road.
Together, these actions would support homelessness prevention, affordable rentals and affordable ownership