Here are the 5 most expensive home sales in Madison County in 2023
Prior to COVID, many Madison County natives and transplants alike may not have thought it a possibility that there would be 10 homes that sold for more than $1 million in just a year's time.
But that's exactly what happened in 2023, as the 10th-most expensive home sale throughout the county in 2023 was completed for more than $1.2 million.
The News-Record & Sentinel spoke with Kim Wilson, a research and media relations specialist with Canopy Realtor Association, about the 10 highest single-family home sales in Madison County in 2023.
The list was generated from Canopy MLS, the real estate multiple listing service compiled by Charlotte Regional Realtor Association.
As for the overall trend of housing in 2023, the year saw a decrease in overall sales.
In 2023, there were 297 homes closed during the year compared to 303 that closed in 2022, Wilson said.
Still, this decrease in sales may be a bit misleading, as the number of pending contracts rose from 280 in 2022 to 304 in 2023, a 9% increase.
The number of new listings in 2023 also increased, from 372 in 2022 to 386, according to Wilson, who added that inventory and supply both rose 28% and 17%, respectively.
The median sales price, average sales price and average list price all rose in 2023 as well, according to Wilson.
The median sales price of a home in Madison County was $406,390, an increase of nearly 9% from 2022. Additionally, the average sales price of a Madison County home, $461,919, was 3% higher than in 2022. The 2023 average list price of $528,054 was up 5% compared to 2022.
These trends led to homes staying on the market longer, Wilson said.
"This brought the original list price to sales price measure for 2023 to 95.1%, while days on market last year showed homes averaged 52 days on market compared to 39 days on market in 2022," Wilson said, in referencing a 2023 year-end release on the greater Asheville region's increased listing activity.
The list
1. 6688 Bear Creek Road, Marshall
Closing price: $1.9 million
The most expensive home sale in the county happened just a few days into the calendar year, on Jan. 6.
According to Zillow, the home was tax assessed at $683,265 in 2019, and at $800,163 in 2023. The four-bedroom, four-bath, 5,795-square foot home sits on 27 acres and was built in 2009, and sold for more than double its 2023 tax assessment.
According to its Zillow listing, the home includes a two-story barn, cleared pasture, cedar potting shed, woodshed, and a chicken coop.
Hadley Goodman Cropp of Asheville Realty Group told The News-Record & Sentinel in an email that 6688 Bear Creek represented "a truly unique property, distinguished by its custom-built home boasting exceptional features and unparalleled attention to detail."
"Beyond the fine farmhouse style residence, the grounds encompassed several remarkable outbuildings, such as a two-story barn, an impressive chicken coop, an outdoor kitchen, and a potting shed equipped with electricity. Rarely does one encounter flat land with breathtaking vistas, walking trails and complete seclusion, ideal for gardening, beekeeping, or a hobby farm,” Cropp said in the email.
According to the listing, the custom home was built with reclaimed wood, solid oak doors and hand-hewn millwork.
"Cook in this gourmet kitchen w/ stainless Viking appliances, and state of the art kitchen design w/ soft closing cabinets, roll out shelving, and hide-away corner cabinet," the listing reads. "Enjoy views from every room."
2. 320 Gagahans Road, Hot Springs
Closing price: $1.7 million
In a tie for second, a Hot Springs home and a Marshall home both sold for $1.675 million on consecutive days in November.
The only Hot Springs home in the top five most expensive sales, the home, which contains 3,786 square feet, as well as five bedrooms and four bathrooms, sold Nov. 14.
In a Zillow listing provided by Patty Reedy at Patton Allen Real Estate, the home is billed as a "historic arts and crafts home/lodge" with a private riverfront access to the French Broad River, as the only public river access point in Hot Springs is currently at Nantahala Outdoor Center near downtown Hot Springs.
The private riverfront access is just one recreation feature of the Hot Springs home, which, according to the listing, was serving as a vacation rental prior to its sale.
"The front porch is a fan favorite where you can spend hours with friends and family sipping, reading, or chatting," the listing reads. "The volleyball court and play barn with ping pong, pool, and foosball borders the national forest and are a stone's throw to the Appalachian Trail and other trails nearby."
The home sold for roughly three times its 2023 tax assessment of $566,666.
3. 544 Gravel Pit Road, Marshall
Closing price: $1.675 million
The Marshall home was built in 2019, and the lot is 68 acres. The home itself contains 2,363 square feet and three bedrooms and three baths.
Kelly Erin-Spinney and Troy Winterrowd, of Modern Asheville Real Estate, listed the home on Zillow, and the listing boasts of the home's distant views of both Mount Pisgah and Mount Mitchell, as well as 1 mile of Ivy River frontage.
Erin-Spinney and Winterrowd told The News-Record they felt "there are so many great and unique details to this property that make it stand out," including that the property sits on its own ridge top with views in multiple directions.
"You have almost 1 mile of the Ivy River that wraps around the property creating a very private and secluded paradise," Erin-Spinney said. "There is a great mix of wooded and open space. Then you have the two quality built buildings, main home and guest house/studio that give the property a ton of versatility."
The 544 Gravel Pit Road homesite offers a "main home" and a separate dwelling, according to Modern Asheville Real Estate's listing.
The two-bedroom main house was built in 2019 and has a 9-foot open living space with wood stove leading to a full length screened porch to watch the wildlife & the world go by," the listing reads. "The carriage house (built in 2010) starts with a romantic one-bedroom apartment with all appliances. All of this on top of a heated 3 car garage and studio or office space with a wood stove."
The home also includes some Madison County-centric flair, as it contains a tobacco and livestock barn "with more potential building sites if you dream of going bigger."
The new owner seemingly has plans to do just that.
In December, Steve Wilmans of Gravel Pit Properties was set to go before the Madison County Planning Board to have a quasi-judicial hearing for a special use permit along the property, where he proposed a 9-unit vacation rental cabin project on the property.
The Gravel Pit home sold for roughly four times its 2023 tax assessment of $407,742.
More: Asheville's 6 most expensive homes Asheville's 6 most expensive homes on the market. How much would it cost to buy one?
4. 402 Red Fox Trail, Marshall
Closing price: $1.67 million
The Red Fox Trail home contains four bedrooms and four bathrooms on a 2.4-acre lot, and was built in 2019.
The home is situated within French Broad Crossing, private gated community in Marshall.
In a Zillow listing provided by Dana Greshko Realty, the listing boasts "outdoor recreation is endless," as the home offers a lodge and fitness center, as well as a hot tub, pool and nearby walking trails.
Greshko owns Dana Greshko Realty, and told The News-Record she felt "the vast river and mountain views from this property are what set it apart", adding that the sunsets "are truly spectacular," and that the neighborhood amenities are an added bonus, which include the lodge, fitness center, hot tub and pool.
The home sold for nearly double its most recent tax assessment of $859,239.
5. 476 River Run, Marshall
Closing price: $1.5 million
Built in 2007, the River Run home in Marshall offers three bedrooms and five bathrooms and contains 3,342 square feet.
Rachel Acker of Keller Williams' Weaverville outlet provided the listing on Zillow.
Acker told The News-Record the home was inspired by contemporary craftsman architecture and design.
"There were so many options for this property, and we marketed to someone who wanted a luxury, year-round or part-time private retreat, someone with a vision to create a compound of upscale vacation rentals, or someone desiring a lifestyle of self-sufficiency, raising animals and growing food," Acker said. "The sunsets over the French Broad River simply could not be beat! I felt extremely fortunate to have the opportunity to sell this gorgeous and unique home."
Acker told The News-Record the more than 16-acre property was previously subdivided among seven lots.
"The existing home is inspired by the finest craftsmen & contemporary architecture & design," the Zillow listing reads. "This custom, green-built home with tremendous views of the mountains & river has an ideal floorplan with main-level living & optimal outdoor living space."
This article originally appeared on Asheville Citizen Times: Here are the 5 most expensive home sales in Madison County in 2023
