Asheville, NC · Henderson County, NC · 5,711 properties with county records
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Flat Rock 28731 is in Henderson County, NC, part of the Asheville Metro. The typical home value in Flat Rock 28731 is $456,186 (Zillow Home Value Index, September 2026), down 1.8% from a year earlier. Homes that sold went under contract in a median 88 days, and 21% of listings took a price cut (Redfin Data Center, period ending Sep 30, 2026). On Lotvox's market-leverage reading of that data, with 8.1 months of supply, neither buyers nor sellers hold a clear edge. The Lotvox Turnover Index is not published for 28731 yet: it appears only where a held-out test on the county's recorded sales beats chance. Across Henderson County's 10 ZIPs with a Zillow value, the middle one is $436,496, so 28731 sits 5% above the county middle. Typical rent is $1,802 a month (Zillow Observed Rent Index, August 2026). Lotvox holds county assessor records for 5,711 properties in 28731.
Headline value data through September 2026. Each source below carries its own date.
Is 28731 a buyer's or seller's market?
By Lotvox's leverage reading of Redfin data through Sep 30, 2026, 28731 is a balanced market. Homes went under contract in a median 88 days with 8.1 months of supply.
What do homes in 28731 sell for?
The typical home value in 28731 is $456,186 (Zillow Home Value Index, September 2026), down 1.8% in a year. County records put the median at about $283 per square foot (computed Apr 21, 2026).
Who is likely to sell in 28731?
Lotvox only publishes its Turnover Index where a held-out test on recorded sales beats chance, and 28731 has not passed that test yet. When it does, the score appears here.
How does 28731 compare to Henderson County?
28731's typical value of $456,186 compares with a middle value of $436,496 across Henderson County's 10 ZIPs. Both are Zillow Home Value Index figures for September 2026.
Where does this 28731 data come from?
Values and rents come from Zillow's research data, sales pace from the Redfin Data Center, and property counts and turnover from county assessor and deed records. Each number on this page carries its own date, and the method is published at lotvox.com/methodology.
Not available for this ZIP — no rent or ownership-cost estimate published here.
Rent to price
Not available for this ZIP — no price-to-rent ratio published here.
25
/100
weak
stable · balanced · prices easing year-over-year.
Verdict grades housing conditions; buyer-timing, investor cash-flow, supply-tightness and county macro scores answer different questions — each in its own section.
Buyer / seller
buyer-timing lens
Strong Buyer's Market
Needs 34.4% correction for affordability
DOM: 101d (stable) · Market Dynamics rolling median · hourly
Score Components
Payment Burden (25%)90
Valuation Gap (25%)80
Supply & Demand (20%)100
Buy vs Rent (15%)75
Cancellation Rate (10%)75
Days on Market (5%)100
Strong buyer leverage in 28731. If you must buy now, offer 10-15% below list price. Payment burden: 43.0% of median income. A 19% price correction needed to reach 30% affordability threshold. Median days on market: 101. Renting is approximately 78% cheaper than buying (price-to-rent ratio: 21.4). Market appears 17% overpriced vs. assessed values.
What to Offer
Offer 10-15% below list price. Sellers are under pressure.
Conditions most similar to late 2007 — overvaluation without corresponding income growth. Significant correction potential.
STABLEBALANCED
Market is holding steady with balanced conditions. Conditions are balanced between buyers and sellers. Prices down 1.8% YoY.
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Median price: Zillow Home Value Index (ZHVI). Median rent: Zillow Observed Rent Index (ZORI). Days on market and active listings: Redfin Data Center, rolling 90 days.
Valuation
3 lenses, different anchors
vs assessor
-78.7%
Market vs assessed value — a tax-roll lag, not a deal signal.
Avg assessor$97,295
county CAMA · properties_v
vs income
—
Fair-value model not available for this market.
fair_value_scores · 10-state coverage
vs county comps
+56.0%
County-wide market — the widest, slowest signal.
Henderson+56.0%
Lotvox comps · mv_valuation_gap
Read together: Above county comps but sustainable on local incomes.
Housing pulse — Housing pulse could not be loaded (429).
Price bands
mix-shift
Price Bands — the median behind the median
A single median rises whenever expensive homes become a bigger share of what sells, even if no tier got more expensive. These are the tiers underneath it, computed from recorded arms-length deed transactions in Henderson.
Current tiers · 12 months to Aug 25floor 10 sales/tier
7 tiers had too few sales at every level and are left blank rather than estimated.
Tier
Median
$/sqft
Sales
Share
Source
Under $250k
—
—
—
—
fewer than 10 sales at zip, county and metro level
$250k–$500k
—
—
—
—
fewer than 10 sales at zip, county and metro level
$500k–$750k
—
—
—
—
fewer than 10 sales at zip, county and metro level
$750k–$1M
—
—
—
—
fewer than 10 sales at zip, county and metro level
$1M–$1.5M
—
—
—
—
fewer than 10 sales at zip, county and metro level
$1.5M–$2M
—
—
—
—
fewer than 10 sales at zip, county and metro level
$2M+
—
—
—
—
fewer than 10 sales at zip, county and metro level
All sales (the headline median)
$423k
$246
11
100%
METRO · Asheville, NC
No mix-shift history for this area. no geography from this ZIP up to metro has 8+ quarters of 10+ recorded arms-length sales across at least 4 price tiers. Trends are drawn only from recorded transactions; the last-sale snapshot above cannot carry a time series, because a property that sold twice keeps only its latest sale — which drags the history upward through the tiers and would invent the very mix shift this section exists to test for.
National context — not local
NAR's aggregate existing-home median for the United States and the South census region. This is the figure the tiers above are a check on. It is national/regional and says nothing about 28731.
United States
South
Copyright, National Association of Realtors. Reprinted with permission. Retrieved from FRED, Federal Reserve Bank of St. Louis. FRED publishes a rolling 13-month window for these series.
Tiers computed from Lotvox parcel and deed substrate through Aug 25 (10 later months withheld as partially loaded). Sample floor 10 sales per tier; below it a figure is drawn from the county or metro and labelled, or left blank. Multi-parcel bulk deeds and duplicate records are excluded.
ZIP score grades housing; county score adds macro distress (jobs, debt, poverty). They answer different questions.
ZIP 28731→Henderson County, NC
12-Month Direction
-10Moderate Deterioration
Confidence
100%
DeterioratingStableImproving
BuildersLens Market Intelligence
Market Score
34· Distressed
Market Score grades housing-market conditions (affordability, valuation, supply). The county Healthy/Moderate/Distressed badge measures economic distress (jobs, debt, poverty) — the two can read differently.
Payment Burden
45.7%
severe
Source: Freddie Mac PMMS (FRED MORTGAGE30US) 7.32% · Zillow ZHVI · Census income · Updated 2026-10-22
Price-to-rent
21.1x
favors renting
Source: Zillow ZHVI ÷ (Zillow ZORI × 12)
Valuation2
+56%
overvalued
Source: Lotvox comps · Updated 2026-05-15
Supply/Demand
8.1 mo
buyer's market
Source: Redfin Data Center (ZIP): inventory ÷ monthly homes sold · Updated 2026-09-30
Insurance Risk
52/100
moderate
Source: FEMA/NFIP · Updated 2026-04
County distress indicators
ECONOMIC INDICATORS
Economic indicators are mixed relative to comparable U.S. counties.
Unemployment Rate
3.0%
NC 3.5%US 4.4%
Lower than most U.S. counties
Source: BLS LAUS · 2026-0857d ago
Poverty Rate
10.6%
NC 12.9%US 12.6%
Near national averages
Median Household Income
$67,623
NC $71,866US $82,006
Near national averages
Cost of Living (RPP)
93.8
NC 93.8US 100.3
Lower than most U.S. counties
Home Value (ZHVI)$431,032
County data: Zillow Home Value Index (ZHVI), BLS, Census ACS, CDC, FBI UCR, Federal Reserve, USDA
