Henderson County Market Snapshot

The real estate market doesn’t pause for perfect conditions, and neither do real lives. We take a grounded look at the Henderson County real estate market with fresh local numbers, including recent sales volume, active inventory just over 500 single-family homes, and an average single-family home price hovering around $544,000. We also dig into what we’re seeing on the ground as days on market rise: why pricing and presentation matter more than ever, and how a steady Western North Carolina housing market can still feel very different depending on your goals.

Then we do a fun but honest comparison of 1981 vs today, because the affordability challenge didn’t disappear, it just changed shape. Back then, buyers faced 16% to 18% interest rates and far lower home prices. Now, rates are often in the 6% to 7% range, but the price-to-income gap is wider, which reshapes how first-time homebuyers and move-up buyers plan their next move. The takeaway is simple: successful buyers and sellers adjust to the market they have, not the market they wish they had.

We also walk through practical strategies people are using right now, including the rise of multigenerational homes as a way to share costs, solve childcare needs, and create a path to homeownership. On the seller side, we cover key capital gains tax basics for a primary residence, including the $500,000 exclusion for married couples and the important two-year timing window that can help surviving spouses avoid unnecessary taxes.

If you live in Hendersonville, Flat Rock, or anywhere in Western North Carolina and you want clear next steps, listen now, subscribe for weekly market updates, and share the show with a friend. If this helped, leave a review and tell us what topic you want us to break down next.

Transcript

Welcome And How To Reach Us

SPEAKER_01 0:00

Hello, friends. Thank you so much for being here. This is the George Real Estate Group podcast, which is a production of our live weekly radio shows hosted on multiple radio stations here in Hendersonville, North Carolina. The George Real Estate Group serves Western North Carolina and upstate South Carolina, and it is a privilege to share positive news about our local real estate market and community. Thanks so much for subscribing. And of course, if you have any real estate questions or if we can help you in any way, be sure to reach out. Visit us at George Real Estate Group Radio.com for more information. Good morning and welcome to the George Real Estate Group Live Radio Broadcast here on WHKP every Thursday morning right after the 10 o'clock news. Thanks so much for joining in. And then in 2011, when the market was very challenging, very different, I leaned into the radio and we were focusing on positive news about the real estate market. The positive, uh, you know, there are very positive things happening, even in challenging markets. And we've certainly, over my 21 years in the real estate industry, have seen the ups and downs and in and in the changes and the the market ebb and flows. And the market's the market, the interest rates are the interest rates, and and we've certainly seen how life still goes on, real estate goes on. We've seen you know life happens, therefore real estate happens. But we're going to talk about some of the numbers. What are some of the things going on in the real estate market here locally? But again, thank you so much for tuning in. The market is, and we'll jump into those into those numbers. But but before we do that, if you ever want to get hold of us, you can call us directly at 828-393-0134. 828-3930134. You can find us online at realestatebygreg.com. Uh, we podcast all of our radio shows. You can find it on your favorite podcast platform. Uh, you know, you can uh follow us on social media, you can follow us on uh Instagram, Facebook, or or like I said, stop by our office anytime and we'd love to get you a cup of coffee. I joke we have a very dangerous location next to the Flat Rock Bakery and Hubba Hubba Barbecue and Campfire Grill, our friends there and on Rainbow Row in Flat Rock. But if you're again just want to have a conversation, we'd love to have it. And we'd love to tell you about what's going on in your unique situation, your unique home, and then the market, the economy, and then giving options. It might be your personal home, it might be how to address a real estate investment or some estate uh real estate or you know, whatever that situation is. We'd be honored to have the conversation. Call us directly, 828-393-0134. In the past 12 months in Henderson County, there's been over 1,600 homes sold in the last 12 months, some hundred and thirty three single-family homes a month selling. Uh, almost 100 more in the last 12 months versus the previous 12 months. We have we just recently passed over 500 homes active on the market. Right now, there's only 509 active single-family homes on the market. The prices are holding. Our average single-family home price in Henderson County is at 544. And the prices are holding, but you know, low inventory levels, strong demand, inventory levels are what's keeping the prices steady. Now, the one thing I will say is the days on market is increasing. It's taking longer. Now, doesn't mean your home has to has to take longer uh to sell, and homes that are priced right, great condition. Again, those are conversations we're having. And and again, you as a seller can decide. But the market, if you price it right, it's moving, the economy, the interest rates, all those things going on. But you know, our real estate market's very local. And so we I will say this our market here is steady, it's strong. Uh, like I said, we've had more homes sell in the previous 12 months than in the current 12 months in the previous 12 months. I mean, that's remarkable, you know, even with these interest rates. And so, yeah, like I said, about a hundred more homes sold in the last 12 months versus the previous 12 months. That's significant. And now the prices have have stayed steady, uh, they're holding, but that's again the inventory levels, it's all supply and demand. And I got my real estate license in 2005, and we've had the privilege of helping over 1,600 families throughout the years at the George Real Estate Group. We have over 100 years combined experience with the different agents we have there, and then the staff. And so, again, if you're curious what your home is worth, if you're curious about the market, if you're curious, you know, what are your options? And it could be, you know, your personal home, it could be an investment property, it could be a tax strategy, it could be you know, whatever your situation is, we'd love to have that conversation. We post a lot of our blogs on George Real Estate Group Radio.com. Uh, different conversations about you know uh the market, the economy. I mean, is it a is when is the right time to buy, you know, the psychology behind that. Um, you know, people curious about the interest rates, and then again, George Real Estate Group Radio. We have our our podcast there and all of our shows. You can also uh follow our blog as well. You can also go to real estatebygreg.com and see of all of our new inventory and listings that we have available. Again, however, we can help, however, we can connect. Uh, and again, there's no pressure, there's no cost, there's no obligation, confidential consultation. You know, we'd love love to have the con the conversation. You know, I it was actually it was actually my uh birthday yesterday. I was born in I'll go ahead and tell my age. I was born in 1981, and I thought it'd be fun to do a little look back on then versus now. Um, and certainly the world has changed and and you know how you know real estate was in in the 1980s. This is remarkable. The median home price in 1981 when I was born was 68,900, and and interest rates were 16 to 18 percent for Micah countertops, carpet everywhere, smaller kitchens, and today uh the median home price in America is over$400,000. Interest rates are in that six to seven percent range, a homes typically over two twenty two hundred square feet, and you have open floor plans, the courts, countertops. You know, it's interesting in 1981 you could afford the house, but but not the payment. Today, you might be able to afford the payment, but not always the house. And so, you know, here's this is so amazing. And income uh back in 1981, the median household income,$21,000. A home was about three to afford a home, you had to have about three times a home was about three times the your annual income. Now the median income is seventy thousand dollars, and a home is about five to six times an annual income, and it's a massive shift. And it takes just more of your life to buy a home today than than it did when I was born in 1981. Another thing that a lot of our listeners might remember in the early 80s, the average car price was$8900. Gas was just over a dollar, maybe a dollar and a quarter. You remember writing out the directions on a piece of paper or or a map or getting those uh triple A maps you could get for free. Uh seat belts, seat belts were actually optional in some places. Uh certainly helmets were not the normal for riding bikes. You know, today the average car is over forty-five thousand dollars. Gas is, you know, we've seen it three, four, five dollars a gallon. You have GPS, you have backup cameras, self-driving features, but you know, today's car cars today cost more, but you know, they they they are hoping certainly to be a lot safer and and in some cases drive themselves. How about a fun look back on a grocery store, uh your grocery grocery list, and a trip to the grocery store in 1981, it would have been 50 cents for uh a loaf of bread, 90 cents for a dozen eggs, movie tickets, two dollars and fifty cents. College public tuition for college. Around a thousand dollars a year. You know, bread now, three to five dollars eggs, you know, three, five, six, eight dollars or a dozen movie tickets, twelve to fifteen dollars in 1981. You could work a summer job and pay for college. And today, uh you know, unfortunately, uh actually one of the biggest epidemics, uh financial epidemics is the college uh debt that students come out with, hundreds of thousands of dollars of student debt. You know, the college tuition now$25,000 a year. This is also interesting. How people lived in 1981, three TV channels, phones attached to the wall, kids played outside until dark, the news came on at six o'clock, and then today infinite streaming, everybody has a smartphone in their pocket, you know, social media is 24-7, news is instant and constant. So, you know, in 1981, if you miss something, it was gone today. You know, nothing ever disappears. And so the the technology is probably the biggest jump in 1981. Uh when I was born, no internet that was you know, public internet, the the no email, no cell phones. It was really the first IBM PC was released, and you know, entire today, entire businesses are run from your phone. Artificial intelligence help people uh write, uh think, and create global communications instantly. In 1981, information was you know was power because it was scarce. Today, wisdom is power, and because you know you've got to be wise about you know the information that's out there. Also in 1981, Ronald Reagan takes office, the space shuttle Columbia launches, MTV changes entertainment forever, and Prince Diana became a global icon. It really was a a turning point decade, the start of modern culture as we know it. You know, it's you know, here's this is where in in regards to real estate, you know, every era really has its challenge. I mean, i i in 1981 it they had the high interest rates today, you know, the high prices, but you know, the people who win in real estate aren't waiting for the perfect conditions, they adjust to the market they're in. And and it it's not that 1981 didn't look easy while you're living in it, and neither does today, but 40 years from now, I do think people are gonna look back at 2026 and say, I wish I would have bought a home then. You know, and and it's just you know, they say don't wait to buy real estate. You you buy uh real estate and wait. Another fun fact about myself is I was born in Florida. Uh there was a Cape Canaveral hospital, so space rockets, NASA, that was it wasn't something we watched uh on uh from afar or on TV. That was actually normal growing up in Florida along the space coast, you know, shuttle rot launches weren't rare events, they were part of you know just the living there. And so you'd hear about one coming up, instead of turning on the TV, we'd walk outside and we'd watch the shuttle launches from our backyards. You know, neighbors neighbors would come out, kids would sit on the grass, and we all watched. And and um just the it's just it even, I mean, the the shuttle launch even recently in the last couple weeks, right? And the return of Artemis. I mean, it's pretty amazing. Um, but you know, there's there's one memory for sure as a child in in 1986, and it was uh I you know the space shuttle challenger uh disaster, and and we did the same thing. We always did. We watched it from outside, and it and it it it wasn't just another launch. I mean, it was the launch that sent up the school teacher, and and uh again, those astronauts there, nothing, you know, it was it was something obviously uh it was a big moment, of course. And then you know, you know you don't necessarily register it when it first happens, but as a kid you knew something uh had gone terribly wrong. And so again, the the shock of what happened there, and again, the wit witnessing it uh from our backyard, and um you know it's this it's uh it's a it was a moment that brought our uh nation together and in in grief, actually. And again, it it's why it's so remarkable when you see what they've done recently and um you know the recent uh space shuttle launching. And again, it's uh so growing up on Space Coast, uh, you know, also watching a number of the launches growing up. And then really it was after that. I mean, our family ended up in uh the later in the 80s, our family ended up moving here to uh Flat Rock and to Henderson County and grew up here. But yeah, certainly those memories are etched in my mind uh of the space shuttles and and growing up there uh there in Florida. But you know, thankful to grow up here in Western North Carolina. I've been doing real estate now for 21 years. Like I said, I started this radio program in 2011, and I came quickly to realize again, the the market's always gonna adjust, the interest rates are gonna adjust. But I mean, I I've seen this and I I see this every single day, which is a it's truly a gift uh to step in with people with their where they're at in their life, and it could be the the downsizing. Maybe maybe a family is uh your family's moving into uh retirement community, or maybe the the maybe it's the the launching of kids off to college and the the downsizing and the empty nesters to uh you know, maybe getting that second home or that investment property, or our families are buying you know their very first home, and that's an amazing experience. I remember my very first home I purchased, uh, actually for$60,000. And I I uh it's it's amazing. And I know there's clients out there that we've worked with that remember you know paying$10,000 and$15,000 for their very first home. Uh it's remarkable to hear the stories. And and again, looking back, I mean you you know, you do what you can to buy what you can. And I know it's even more challenging uh these days for families to get into to homeowner ownership. And and that's uh you know part of the affordability challenge. And and by the way, the affordability challenge was real in the in the early 80s with interest rates you know in the you know high teens. I I I've shared, I had a client that shared with me, he actually built property when interest he had borrowed money at 20%. He still owns that property today, and and he obviously refinanced it. And and and again, you find a way. Again, your life, your goals, your dreams, and how real estate plays into it. And and then we hear all the time, oh, this is my forever home, but you know, we know that's uh a beautiful sentiment, and life keeps moving forward and and uh life changes and and uh you know at some point, you know, maybe it is your forever home, but the the challenges that you know in aging and and uh in aging in place and and and again a lot of times that is the case, but uh none of us make it none of us make it out of here alive. Uh and it's such a life is so beautiful and so grateful, and and how we get the real estate becomes a significant part of all of our stories. And and you remember that that very first uh you know home that you you bought. And and for the home buyers now, first-time homebuyers, it is longer. It's it's it's closer to I mean the average first-time home buyer. I mean, they're they're in in their 40s now, the average home buyer. And then, you know, and maybe maybe buying a home isn't possible uh by yourself. We're seeing a lot of multi-generational homes, and it's and it's because of the affordability challenge. And this is where you see families coming together, maybe grandparents or or and parents and you know, living under the same roof, and it's not just about convenience anymore. It becomes a a very common uh strategy just to get in. So this is amazing. One in seven homeowners, 14% actually bought a multi-generational home in 2025. And so, you know, the the a lot of reasons people are doing that is you know, grandchildren living in the home. That was of a recent survey that was 12% of the people surveyed for buying a multi-generational home, and then and then to help reduce the cost of childcare with six percent. So, this is where buying a multi-generational home can solve some big challenges. It it shares financial responsibility. You know, if you're pulling multiple incomes together, you may be able to afford a home you couldn't have on on your own. Also can solve the child care puzzle. You know, when grandparents or other relatives live in the home, they may be able to help with with daily care, which can can reduce or eliminate uh daycare costs. And so again, these are different reasons why people you know are are going in on multi-generational homes. It it doesn't mean you know, traditional doesn't mean you have to do it alone. There's other paths forward for doing that. We've sold duplexes where families have uh a couple has bought a duplex or a single individual and they live in one side and rent out the other. I mean, there's a lot of different scenarios that might might work for you. I and what I find when we're consulting with clients is again understanding your dreams and your goals and your and what's really the motivation. I mean, a house is usually a byproduct of of decisions and and functionality and practicality. And you know, for so many people, it's maybe it's the they've finally gotten to that retirement home they've dreamed of on the lake, and that's a beautiful moment and certainly celebration, and we've had the privilege of helping clients do that. And then we've helped the clients that have lived there for 10, 20 years, and it's time for the next season, which is okay. It was a beautiful moment. Now they're looking to downsize or get closer to kids or grandkids, and and there's so many reasons why we hear clients deciding to buy or sell, and it's and it's not most in most cases, uh it's it's they they're doing it because they want to, and then while they can, and while they have the ability to do it, they don't have to, they're not waiting until they're forced to do anything. And and again, these these the market that we're in that we navigate in, I mean, the market is what it is. The prices, our average single-family home price over the last 12 months is at 544. We're averaging some 130 plus homes a month, single family homes a month selling in Henderson County. I mean, that's just Henderson County. That's not even including Bunkham or Transylvania County or Polk County or Haywood County. I mean, we work in all the surrounding areas, and also, in fact, we're growing, we're hiring more agents, and we've had truly the privilege of helping so many families throughout the years where they're buying and selling uh dreams and goals and needs. And again, your unique home, your unique situation. The things that we're talking about with clients is not just you know, what's my home worth or what's how what does it look like selling? It's how do we strategically plan for the tax implications? What are the tax implications if it's your personal home? What are tax implications if it's your investment property? There are strategic ways to uh, you know, no one likes paying taxes, or or but there are ways that are allowed in the IRS tax code. Like if it's your personal home, if you and your spouse have lived in the home two out of a five-year period, the first$500,000 on top of your basis, what you paid for it, plus improvements. You're the it's so it's not just the first$500, it's not just$500,000, it's what you paid for it. Uh it's the first$500,000 of tax of capital gains that you're not paying taxes on. If you're an individual, it's$250,000. Something that's just a reality is we do work with a lot of clients whose spouses have passed, and a lot of people don't realize this. You have two years after your spouse passes to take it take advantage of the tax code, the the$250,000 that your spouse, your deceased spouse would have uh taken advantage of. You can too if your home sells within two years of their passing. And they say, don't make any major decisions usually after that first year when you're grieving. But in your second year, if it's right for you, this can be a significant financial. Financial impact of if if that's the right decision to sell after your spouse has passed. And again, if you sell within two years after their passing, you the the surviving spouse gets to use the 250 that your deceased spouse would have would have taken advantage of. I mean, that is a significant these are conversations that we're having. It's it is the practical. It is the we're here to advocate and and to be a fiduciary for our clients. And so these are conversations. And it and it's not just the staging the house. And and we do that. All the things that we do. We've we've had the privilege of helping over 1,600 families. We've sold over 1,600 homes. Not to mention the commercial and the land that we help with, too. So your unique home, your unique situation, you know, we'd love to have the conversation. You can call us directly, 828-393-0134. You can find us online at realastatebygreg.com. You can follow our podcast. We podcast all of our radio shows. You know, it is a truly a privilege and honor to help our clients navigate through how real estate impacts their lives and how we can advocate and help. We love helping. We love really serving the community. Another thing we love doing is every Friday morning at 8 45, we sponsor the Hometown Hero series. And it's amazing. And if you want to go back and hear the different interviews we've had over the years, you can follow our podcast. Our podcast features our Hometown Hero series. You can find our Hometown Hero uh radio show uh broadcasts on there on there as well. Uh tomorrow morning we're actually honoring and and highlighting the Star Camp. And it's a program that provides Henderson County School Resource Officers a chance to mentor fifth grade students through their summer break, and approximately 400 students will attend the Star Camp at no cost for the children or their families. Uh Sheriff's Deputy Sergeant Candy Carlin has been with the Sheriff's Office over 14 years and has been an SRO officer for most of her career and has participated in the STAR program every year, and she's going to be here tomorrow morning at 8 45 to share with us about the STAR program. And again, we're so grateful for uh our community and what it does to equip our students and to pour into them. Uh a few weeks ago I had uh BJ Lauder, the the area director for FCA, share about the work that he's doing in our community with our schools and our students. Uh, you can find that on our podcasts, and and tomorrow morning we'll be podcasting that as well. But if you know someone making a difference in this community, we love uh hearing and sharing the stories every Friday morning at 8 45. Uh the Hometown Hero series, and and certainly uh uh we had Dr. Jan King on here last week and remarkable uh her story and her career, and we're grateful that we can honor her. Again, the in this I could go on and on. And so if you know somebody that we'd you'd love uh for us to highlight and have the conversation, it's what makes our community what it is. We have amazing people, we have an amazing community, and it's what makes I mean our area is you know, I I'm I tell people I'm a little biased. I think we live in one of the most amazing places in the country, and I've enjoyed traveling quite a bit all over the country and the world, in fact, and and I think we have one of the most amazing places to call home. Uh the secrets out, people are coming in, they want to live here for the quality of life, the amazing people, the outdoors, the community we live in. And so it it's really easy. I mean, it's we we we're not really selling anything, we're advocating, we're facilitating, we're sharing information, and our clients can decide you know what's right for them. But you know, very we have more people. It's so funny in the real estate industry. We real estate agents or you know, can have this thing called referrals. I can refer people to I can refer you to anywhere in the the the country if you're thinking of buying or selling, I can connect you with some of the top agents around the country that we're connected with and work with. But it's interesting, we have more people that are referred in to us than we're referring out. More people are coming to us than it and I know that's not true of the rest of the country, but we have a special area. I am biased, I think we live in one of those amazing places because of the amazing people that we have here. Every Friday morning at 8 45, the Hometown Hero Series. And then then we're here every Thursday morning at right after the 10 o'clock news. I've been doing this radio program since 2011. Love sharing stories, love sharing about what's going on in the market. You know, your unique home, your unique situation. You know, we if you want to have a confidential consultation, give us a call, 828-393-0134. Find us online at realestatebygreg.com. Uh, we're here every Thursday morning right after the 10 o'clock news. Uh but if you're just curious, want to have a conversation, give us a call, 828-393-0134. Oh, there's the music. And again, we love helping our community. We love serving, and we are, you know, we love it. So if we can help you, give us a call. Have a great day, have a great week, and we'll see you tomorrow morning. Maybe the house feels a little too big these days. The stairs, a little steeper, the pace of life, a little too fast. But what if your next move wasn't about letting go? It was about making space. For peace, for freedom, for what matters most. At the George Real Estate Group, we understand that real estate isn't just about the house. It's about transitions, timing, and trust. We've helped thousands of families in Western North Carolina make smart, thoughtful moves. Closer to nature, closer to family, closer to home. So when you're ready to rise-size, simplify, or start fresh, we'll be here. The George Real Estate Group. Local, trusted, proven. Call us today, 828-393-0134. Find us online at realestatebygreg.com because your next chapter deserves to feel just right.

SPEAKER_00 28:23

Thank you for listening to the George Real Estate Group Podcast. Tune in next time for more industry news, updates, and real estate tips. You can reach Greg, the George Real Estate Group, at 828-393-0134 or at realestatebygreg.com.