Last Updated on December 8, 2024 1:08 pm
The High Country Real Estate Market of Alleghany, Ashe, Avery, and Watauga Counties saw sales down 7.1%, and inventory climbed 8.4% during October compared to October 2023. For October, there were 182 closed sales on single-family and condo/townhouse properties. The combined closing total for the month was $120.2 million. Our four counties combined median sales price was $450,000, down 10.4% compared to this same time a year ago.
Nationally: According to a recent report from the National Association of Realtors® “The last two years have been tough for many people who work in home sales or who were in the market to buy or sell, but the worst may be over,” Lawrence Yun, chief economist of the National Association of REALTORS®, told a crowd of real estate professionals during NAR NXT, The REALTOR® Experience, in Boston recently.
INVENTORY: Alleghany, Ashe, Avery, and Watauga Counties had 696 active single-family and condo/townhouse listings during October, with 156 new listings coming onto the market. This is a 3.8 supply of inventory, up 16.8% compared to this same time a year ago.
LAND: Our four counties had 1,398 active land listings during October, a 24.1-month supply of local land inventory. This is slightly down compared to October 2023. Land sales for October were $4.9 Million.
COMMERCIAL: Currently reported to the High-Country Multiple Listing Service, forty-one commercial properties are listed. There were two commercial sales within the four counties in October for a combined total of $610,000.
Alleghany County: Realtors closed on total residential sales of twenty-seven. The county's median sales price for October is $359,000. There are currently sixty-five active residential listings in the county. Nine land closings were coming in for October, with a median sales price of $45,000. There are currently 235 active land listings in Alleghany County.
Ashe County: Realtors closed on forty residential sales for October, and that median sales price came in at $370,000. There are 103 active residential properties in the county. There were thirteen land sales for October, and the median sales price was $30,000. There are currently 388 active land listings in Ashe County.
Avery County: Realtors closed on thirty-four residential properties during the month, with a median sales price of $449,000 for October. There are 224 active residential properties currently. Avery County saw eleven land sales in October, with a median sales price of $89,000. There are 293 active listings for land in Avery County.
Watauga County: Realtors closed on eighty-one residential properties in October, and that median sales price was the largest in our counties, at $538,000. There are 304 active residential properties in the county. There were twenty-five land sales, and the median sales price was $28,000. There are currently 482 active listings for land in Watauga County.
Mortgage News: According to a recent report from the National Association of Realtors® “Freddie Mac reports the average 30-year fixed rate mortgage has ranged from 6.08% to 7.44% over the past 52 weeks.” NARs chief economist, Lawrence Yun says “the rates should stabilize at the low end of that range for 2025 and 2026.”
Disclaimer: Figures are based on information from the 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.
