Guide to Asheville's Best Condos

Asheville Condos Most Popular With My Clients

The following Asheville condos most frequently show up on my clients’ showing list due to: location, price point ($250k-$750k), services, “reasonable” maintenance fee, and historical ability to hold value.

• Downtown Asheville: 55 South Market Street, 60 North Market, 45 Asheland, 145 Biltmore
• Pet-Friendly: The Landings, Clingman Lofts, The Kress

Popular Neighborhoods for Condos in Asheville

In addition to the stunning natural beauty and vibrant arts scene, Asheville is also known for its diverse range of neighborhoods, each with its own unique character and charm.

When it comes to condos, some of the most popular neighborhoods for development include downtown Asheville (The Arras,17 N Market Street, 12 South Lexington, 60 North Market, 55 South Market Street, The Kress), South Slope/Biltmore Village (Bauhaus, 145 Biltmore), and West Asheville (The Landings).

Downtown Asheville is a bustling area filled with shops, restaurants, and cultural attractions, making it a prime location for those who want to be in the heart of the action.

Biltmore Village, on the other hand, offers a more historic and upscale feel, with its tree-lined streets and proximity to the famous Biltmore Estate.

Finally, West Asheville is known for its laid-back vibe and eclectic mix of restaurants, bars, and shops, as well as its close proximity to the River Arts District, a hub for artists and creatives.

No matter what your lifestyle preferences may be, there is a condo development in Asheville that will suit your needs and provide the perfect home base for exploring all that the city has to offer.

Asheville Condo Statistics (Last 3 years)

Most Expensive / Most Luxurious Asheville Condo Buildings

The following buildings are known for top-tier service, amenities, reputation and/or location:

• The Arras
• The Fitzgerald
• 17 N Market Street
• 145 Biltmore
• 12 South Lexington

Asheville Condo HOA Fees and Amenities

If you’re considering buying a condo in Asheville, make sure that you’re aware of the monthly homeowner association (HOA) fees, their true costs, the benefits you get from being a resident, and the qualities that make a building successful.

It's also important to note that HOA fees have an impact on financing, as banks will require you to pay both HOA fees and taxes on time (they don't like 3rd party senior liens). Taxing authorities and homeowners associations can place a lien on your condo unit if you don't pay their bills.

As such, high HOA fees can become an issue once you resell. Historically, older buildings (from the 1960s to 1980s) have higher fees, mostly due to several amenities, and limited energy efficiency. Some of these buildings also have residents sharing utilities like electricity.

I've written a guide to buying a condo in Asheville that covers some of these topics in greater detail.

Asheville Condo Appreciation Trends

There are three critical factors to consider when buying a condo in Asheville: the building's resale history, the building's median sale price, and the building's unique personality and atmosphere.

It's also important to take note of the building's 10-year and 5-year sales performance, as it's important to understand how a particular building performed during a downturn. Some newer developments do not have these statistics, so other factors need to be considered.

With ~100 residential buildings from which to choose, buyers should be wary about where to place their investments. Not all Asheville condos have performed well over the years.

Some buildings are fantastic, well-managed, have great staff, have solid reserve accounts, and have consistent demand.

By contrast, some buildings suffer from high HOA fees (despite limited amenities), inconsistent management, and have a spotty appreciation track record.

Additionally, the "X-factor" in Asheville condo real estate, "mountain views," has considerable impact on condo valuation in our market.