Last Updated on July 12, 2022 3:01 pm
High Country Real Estate recorded 1,254 residential sales totaling $631.9 million during the first and second quarters of this year, from January through the end of June. 795 land listings sold for a combined total of $114.8 million for the first half of 2022. Homebuyers have continued to remain strong in the High Country regardless of the still rising prices of listings and the rising mortgage rates. The MLS reports that in June 250 homes sold worth a combined total of over $127 million, 226 of those sold locally in Alleghany, Ashe, Avery, and Watauga counties contributing to $118 million of that recorded sales volume. This is a 17.6 percent increase in sales volume compared to June of last year when 265 homes sold for $ 108 million. The median sold price for residential homes in June of this year was $441,350, a 31.7 percent increase versus June of 2021 ($335,000). Sellers received an average of 99.7 percent of the list price last month and the median days on market was 44 days.
INVENTORY. High Country counties, more specifically Alleghany, Ashe, Avery, and Watauga, reported 576 homes listed as active inventory for the month. June of last year saw 1.8 percent fewer homes on the market than June of this year.
ALLEGHANY COUNTY. REALTORS® sold ten homes worth $2.58 million in June, and 65 percent decrease in sales volume from 2021 when 29 homes sold for $7.36 million. The median sold price for June of this year was $215,000 – a 29.5 percent decrease from June of last year ($285,000).
ASHE COUNTY. REALTORS® sold forty-eight homes worth $20.71 million in June, a 32.2 percent increase in sales volume compared to last year when forty-six homes sold for $ 15.67 million. The median sold price for the month of June was $409,000, a 36.3 percent increase versus June of 2021 ($300,000).
AVERY COUNTY. REALTORS® sold fifty-six homes worth $28.3 million in June, an increase of 4.9 percent in sales volume from a year ago when fifty-seven homes sold for $27 million. The median sold price this June was $337,460, a 25 percent increase over June of last year ($270,000).
WATAUGA COUNTY. REALTORS® sold 112 homes worth $67.2 million in June, a sales volume increase of 14.7 percent compared to last June when 133 homes sold for a total of $58.6 million. The median sold price this June was $490,000, a 30.7 percent increase over last June which was $375,00.
MLS LAND SALES. The MLS reported a total of 121 land listings sold in June for a total of $24 million. There were 103 tracts of land sold in our four-county region in June 2022, which totaled nearly $17 million. ALLEGHANY COUNTY: In June REALTORS® sold eleven land listings for $401,000. ASHE COUNTY Realtors® sold twenty-one properties totaling $2.14 million. AVERY COUNTY: Realtors® sold fourteen land listings which totaled over $3.9 million. WATAUGA COUNTY: Realtors® recorded fifty-seven properties selling for over $10.4 million total in the month of June.
COMMERCIAL SALES. The four recorded commercial sales in Alleghany, Ashe, Avery, and Watauga totaled $2.47 million in June. Two of the commercial properties sold in Ashe County and two sold in Watauga County.
INTEREST RATES. Rates posted on July 8th indicate that the average 30-year fixed-rate mortgage loan is at 5.3 percent. Although it is a half percent less than a month ago, prior to 2022 this is a rate not seen since July of 2009. The information posted online, per Freddie Mac, “the housing market will continue to normalize if home price growth materially slows due to the combination of low housing affordability and an expected economic slowdown.”
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 RETS feed. HCAR Realtor® members can access these detailed and customizable reports and graphics for professional use by logging into the HCAR dashboard – Info Hub and clicking on the Resources tab, then the HCAR stats link. A public graphic is available on our website homepage at highcountryrealtors.org.
