Last Updated on September 19, 2024 2:48 pm
The High Country Real Estate Market of Alleghany, Ashe, Avery, and Watauga Counties saw sales down 8.7%, and inventory climbed 23.9% during August compared to August 2023. For August, there were 210 closed sales on single-family and condo/townhouse properties. The combined closing total for the month was $135 million. The combined median sales price was $469,500.
Nationally: According to a recent report from the National Association of Realtors® President Kevin Sears, “The Federal Reserve's revised Basel III proposal is a win for the housing market, Realtors®, and consumers. By making it easier for banks to support low down payment loans, these changes should ensure continued access to affordable home financing. The proposal laid out by the Federal Reserve also recognizes the strength of changes made more than a decade ago to regulation and oversight of the housing-finance industry in the wake of the subprime crisis. We applaud the Fed for this thoughtful adjustment, which ultimately reflects a commitment to a healthy housing market and reinforces the stability we've worked hard to achieve.”
INVENTORY: Alleghany, Ashe, Avery, and Watauga Counties had 789 active single-family and condo/townhouse listings during August, with 283 new listings coming onto the market. This is a 3.8 supply of inventory, down 8.6% compared to July 2024.
LAND: Our four counties had 1,484 active land listings during August, a 21.5-month supply of local land inventory. This is slightly up compared to July 2024. Land sales for August were $12.9 Million, with the largest sale in Watauga County, which was $3 million.
COMMERCIAL: Currently reported to the High-Country Multiple Listing Service, forty-three commercial properties are listed. There were five commercial sales within the four counties combined in August for $1.5 million.
Alleghany County: Realtors closed on fifteen total residential sales. The county's median sales price for August is $385,000. There are currently seventy-one active residential listings in the county. Six land closings were coming in for August, with a median sales price of $14,750.0. There are currently 253 active land listings in Alleghany County.
Ashe County: Realtors closed on fifty-one residential sales for August, and that median sales price came in at $375,000. There are 119 active residential properties in the county. There were twenty-two land sales for August, and that median sales price was $50,000. There are currently 423 active land listings in Ashe County.
Avery County: Realtors closed on 53 residential properties during the month, with a median sales price of $405,000 for August. There are 259 active residential properties currently. Avery County saw ten land sale closings in August, with a median sales price of $111,250. There are 299 active listings for land in Avery County.
Watauga County: Realtors closed on 91 residential properties in August, and that median sales price was the largest in our counties, at $525,000. There are 340 active residential properties in the county. There were thirty-one land sales, and that median sales price was $150,000. There are currently 509 active listings for land in Watauga County.
Disclaimer: Figures are based on information from High Country Multiple Listing Service. Data is for informational purposes only and may not be completely accurate due to MLS reporting processes. This data reflects a specific point in time and cannot be used in perpetuity due to the fluctuating nature of markets.
Report graphics generated from Domus Analytics pulled from the HCAR Web API feed. HCAR Realtor® members can access these detailed and customizable reports and graphics for professional use by logging into the HCAR dashboard. A public graphic is available on our website homepage at highcountryrealtors.org.
