Luxury home prices in Asheville continue to rise due to high demand and limited supply. The market for homes priced over $1 million remains strong, with some properties selling for millions of dollars. In May, several high-priced homes were sold in the Asheville area, including properties in Biltmore Forest and The Cliffs at Walnut Cove. The gap between assessed values and sale prices of luxury homes has prompted the Buncombe County Tax Department to hire a new luxury home assessor to address the issue.
