An Arden home said to be a “modern masterpiece” for its sustainable elements, beautifully designed exterior and large windows recently listed in April for $8.8 million, making it one of the most expensive homes currently on sale in the Asheville area.
The four-bedroom home at 374 Walnut Valley Parkway, built by the Asheville-based Jade Mountain Builders and designed by Harding Huebner Architects, is located within the Cliffs at Walnut Cove luxury mountain community, which is known for having some of the most glamorous and expensive mountain properties in the Asheville-area.
The average list price for new construction at the Cliffs at Walnut Cove is currently $4,171,429, according to data from Cliffs Realty. 374 Walnut Valley Parkway is the third most expensive home currently listed in Buncombe County on Zillow as of May 31.
With nearly 5,900-square-feet of space, the Cliffs at Walnut Cove Realty Team Leader Vince Roser said sitting in the home is “like sitting in the middle of the woods,” due to the expansive windows present throughout the home.
“The only thing it’s missing is … I don’t hear the birds chirping,” Roser said, noting the beautiful interior and green elements — including Energy Star certifications, the opportunity to install solar panels and geothermal HVAC systems — that were built by Jade Mountain Builders.
Compared to the homes built in the Cliffs community in the early 2000s, which don an “old world” style, Roser said 347 Walnut Valley Parkway “sort of picks up that element of being timeless.”
If the home sells for its list price, it would be the highest sale ever at any of the Cliffs’ seven luxury mountain and lake communities in Western North Carolina, Roser said. It would be just $800,000 shy of the Buncombe County record, which was set last year when a 9,000-square-foot mansion near the Biltmore Estate sold for $9.6 million.
The most expensive listing in Buncombe County is Deerhaven Gardens, which is currently listed for $24 million on multiple listing services. The home had previously been listed for $34 million.
Home evaluated at $1.2 million, county says evaluation is ‘irrelevant’
The Citizen Times began reporting on the disparities between luxury home listing prices and their tax evaluations in 2023, finding that many homes in the Asheville area sell well above their evaluations — with some selling over 100% above their previous evaluations. The county assessors office recently hired a dedicated luxury home assessor after the issue received media attention.
Though 374 Walnut Valley Parkway and the land it resides on is currently evaluated at $1.2 million, Buncombe County says this assessment is “irrelevant.”
As the home was just completed earlier in 2024, Buncombe County spokesperson Lillian Govus said the “current assessment is irrelevant and should not be compared to the current market value,” as the home was not completed at the time of evaluation.
“Houses are appraised based on the percent complete of construction as of Jan. 1,” Govus wrote to the Citizen Times May 31.
“Obviously the next reappraisal will reflect a different value since the construction has since been completed,” Govus continued.
Buncombe County is currently mounting up for a massive 2025 reappraisal effort that is expected to raise taxes across the county. County Assessor Keith Miller told the Citizen Times in March that he expects appraisals for all home price brackets to see increases, including luxury homes.
Asheville-based private urban planner Joe Minicozzi researched the issue of luxury home tax appraisals in 2022, releasing several recommendations that year in a presentation to the Ad Hoc Reappraisal Committee. Among the recommendations was modifying how county staff appraised luxury homes.
“We recommended staff improvements in 2022. It’s sad that it’s taken this long to correct just one of the many issues we cited. Meanwhile, lower wealth folks in Buncombe have overpaid taxes with no relief for several years.,” Minicozzi told the Citizen Times.
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Will Hofmann is the Growth and Development Reporter for the Asheville Citizen Times, part of the USA Today Network. Got a tip? Email him at [email protected]. Please help support this type of journalism with a subscription to the Citizen Times.
This article originally appeared on Asheville Citizen Times: $8.8 million Arden home lists as 3rd most expensive in Asheville-area
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