Weaverville's Luxury Real Estate Market Uncovered

Mark P. Fields October 11, 2023

Located in Buncombe County, Weaverville is a prosperous suburb of Asheville, N.C., with a bustling downtown area that accentuates large, lavish residential lots.

On any given day, shoppers fill the sidewalks of Main Street, enjoying the eclectic mix of quaint cafes, brew pubs, bakeries, distinctive shops, and high-end eateries. Adventure seekers can partake in a wealth of outdoor activities, from scenic drives to hiking, kayaking, and cycling. Weaverville has it all, including an entrance to the Blue Ridge Parkway.

With an estimated population of 5,000, not many people are aware of the benefits of living in this incredible small town. That is why we wanted to give you a better understanding of Weaverville's luxury real estate market.

The current 2023 luxury real estate market in Weaverville

Data from the Town of Weaverville indicates a land area of 2,090 acres — the equivalent of 3.27 square miles — with a real property tax value of $1.13 billion. There has been a substantial increase in population, with a growth rate of 43.5% since 2010. Single-family homes account for 80% of available housing.

Median housing value in Weaverville, N.C.

According to the Town of Weaverville findings, the median price for a single-family home is currently $339,100. Weaverville's luxury real estate market, however, has considerably higher costs. For example, in recent multiple listing service listings, a newly constructed three-bedroom home costs approximately $1.5 million, while an established five-bedroom home on a three-quarter acre lot can easily exceed that amount.

The current 2023 real estate in Buncombe County, N.C.

The Canopy Realtor® Association reported the average year-to-date sales price in Buncombe County went from $556,003 in June 2022 to $569,839 in June 2023, reflecting an overall increase of 2.5%. The current median sales price for the county is $456,500, an overall 3.8% increase from last year's median price of $440,000.

Towns that are part of Buncombe County

Buncombe County includes the following towns:

  • Arden.
  • Asheville.
  • Avery Creek.
  • Bent Creek.
  • Bernardsville.
  • Biltmore Forest.
  • Black Mountain.
  • Fairview.
  • Montreat.
  • Royal Pines.
  • Swannanoa.
  • Weaverville.
  • Woodfin.

Housing availability in Buncombe County

Currently, the inventory of homes for sale is down 1.8% compared to the same time last year. Year-to-date new listings are down 19.8% for Buncombe County, and closed sales are down by 23.2%.

Homes are spending approximately 41 days on the market, taking 99 days from listing to close, which is significantly longer than last year. As of June 2023, there were only 650 homes available for sale in Buncombe County. With only a small percentage of these homes being high-end properties, Weaverville's luxury real estate market has become extremely competitive.

The average list price for June 2023 was $705,804 in Buncombe County compared to $594,675 in June 2022, a substantial 18.7% increase.

The best upscale neighborhoods in Weaverville

Many of the properties surrounding the town limits of Weaverville are not subject to the town's taxes but still maintain a Weaverville address. While each community in Weaverville and the immediate surrounding areas offer distinct advantages, the following neighborhoods stand out for luxury home buyers as the most desirable:

1. Reems Creek Golf Club and Community

This friendly golf community features impressive luxury single-family homes on large manicured lots. Incredible mountain vistas and a private country club add to the allure of this beautiful, upscale neighborhood.

2. Hamburg Mountain

This coveted location is just minutes from the town center and a quick 15-minute drive to Asheville. The craftsmanship of the large homes in this area is unparalleled, offering fabulous indoor/outdoor living spaces and upscale amenities worthy of ultra-luxury properties.

Whether you want a hot tub built into an expansive deck that overlooks the mountain ridge, a four-car garage, a guesthouse, or a home with rooftop solar panels, you will undoubtedly be able to find it in this exclusive neighborhood.

The serene locale offers proximity to nature trails and overlooks the entire town of Weaverville, with fabulous mountain views in every direction.

3. Lake Louise

The family-centric neighborhood includes walking trails, parks, playgrounds, and plenty of open spaces surrounding the calming waters of Lake Louise. The easy access to downtown and outdoor activities makes this a good choice for those looking for versatility.

4. Downtown Weaverville

The downtown district is where all the activities, festivals, and neighborhood gatherings happen. There is a wide selection of shops, galleries, and restaurants, and the walkability of the area adds to its small-town charm. A nice blend of historic homes and modern upscale condos offer wonderful options for those wanting to be in the center of the action.

Housing styles in Weaverville

From a small historic cottage close to the town center to mountainside and lakefront homes with stunning panoramic views, there are a wide variety of housing styles in Weaverville.

Whether you are looking for a modern residence with designer architecture, a mid-century ranch, or a century-old mansion, it can likely be found in this small, idyllic town. For those looking to build new construction, there are several deed-restricted communities in Weaverville with affordable one- to two-acre plots of land for sale.

The arts are alive and well in Weaverville

The town is home to an active arts community, with many Southern Highlands Crafts Guild members living in Weaverville and the surrounding areas. In the spring and fall, local artisans welcome visitors to take a self-guided tour of their studios for the annual Weaverville Art Safari. Every September, the Art in Autumn festival holds a juried art show for artists. Weaverville also has a thriving live music scene with ample opportunities for more diverse cultural activities in nearby Asheville.

Our top 5 suggestions for buying luxury real estate in Weaverville

  1. Hire an experienced local real estate agent.
  2. Explore the neighborhoods and determine the area you want to live.
  3. Evaluate mortgage options and get pre-approved.
  4. Zero in on the luxury property you desire.
  5. Make an offer.

Weaverville's luxury real estate market uncovered with the help of Mark Fields Real Estate

The are many great reasons for purchasing luxury real estate in this quintessential small town. Only a 15-minute drive to downtown Asheville, it offers a unique blend of large rural lots and upscale city amenities.

As western North Carolina continues to grow, it is important to hire a real estate agent, such as Mark Fields Real Estate, who can keep up with the local real estate trends while keeping your best interests at heart.

Contact our offices today to learn more about Weaverville's luxury real estate market, and together we can find you and your family a place where you connect with the community spirit and want to call home.

*Header photo courtesy of Shutterstock

Work With Us

Mark Fields Real Estate's sophisticated skills as an international branding and marketing specialist for Real Estate products provide his clients with a superior level of marketing services for high-end residential and luxury estates.