Last Updated on March 19, 2025 4:22 pm
The Real Estate Market of the High Country, consisting of the counties of Alleghany, Ashe, Avery, and Watauga saw sales down 17.2% compared to February 2024, and inventory was up 7.1% compared to February 2024. In February 2025, there were 101 closed sales on single-family and condo/townhouse properties. The combined closing total for February was $61.2 million. The combined closing total for February 2024 was $81.8 million. February brought wind and ice to our counties, which probably contributed to lower closing differences. However, the combined median sales price for all four counties was $ 470,000 for February 2025, up 17.6% compared to February 2024.
Nationally: Nationally: According to a recent report from the National Association of REALTORS®, “Rising home prices and elevated mortgage rates appear to be making prospective home buyers skittish. Existing-home sales—which account for completed transactions for single-family homes, townhomes, condominiums and co-ops—fell nearly 5% in January compared to the previous month.” Also noted in the report “Mortgage rates have refused to budge for several months despite multiple rounds of short-term interest rate cuts by the Federal Reserve,” says NAR Chief Economist Lawrence Yun. “When combined with elevated home prices, housing affordability remains a major challenge.” Home prices are still rising: The median existing home sales price in January rose nearly 5% compared to a year ago, reaching $396,900,” NAR reports.
INVENTORY: Alleghany, Ashe, Avery, and Watauga Counties had 555 active single-family and condo/townhouse listings during February 2025, with 174 new listings coming onto the market. This is a 5.5 supply of inventory, up 29.2% compared to February 2024.
LAND: Our four counties had 1,249 active land listings during February 2025, with a 27.2%-month supply of local land inventory. This is considerably up 45.7% compared to February 2024. Land sales for February 2025 were $6.5 Million. $6.9 Million
COMMERCIAL: In February, 35 active commercial properties were listed in the High-Country Multiple Listing Service. Three commercial sales within the four counties in February 2025 had a closing price of $2.7 Million.
Alleghany County: Realtors closed on twelve residential sales. The county's median sales price for February is $357,500, up 19.2% compared to February 2024. There are currently fifty active residential listings in the county. There were five land closings in February, up 61.5% compared to February 2024, with a median sales price of $87,500. There are currently 219 active land listings in Alleghany County.
Ashe County: Realtors closed on twenty-four residential sales for February, and the median sales price was $393,750. Closed sales were down 4.1% compared to February 2024; however, the median sales price was down only 1.3% compared to February 2024. There are 86 active residential properties in the county. Thirteen land sales were also reported for February; the median sales price was $56,550. There are currently 343 active land listings in Ashe County.
Avery County: There were twenty-eight residential properties closed on in Avery County in February, with a median sales price of $434,000, up 37.1% from February 2024. There are 178 active residential properties currently in Avery County. There were ten land sales in February, with a median sales price of $85,000, up 13.0% from February 2024. There were 271 active listings for land in Avery County in February 2025.
Watauga County: Realtors closed on 37 residential properties in February, with the median sales price being the largest in our counties, at $594,000, up 41.4% from last year. There are 241 active residential properties in the county. Seventeen land closings were recorded for February 2025, down 41.4% from last year. The median sales price was $60,000, down 36.8% from February 2024. There are currently 416 active listings for land in Watauga County.
Disclaimer: Figures are based on the High Country Multiple Listing Service information. Data is for informational purposes only and may not be 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.
