Last Updated on October 15, 2023 9:29 am
The High Country Real Estate Market was busy in September, as is typical for this time of the year. The High Country market reported 229 closed sales on Residential Properties during the month, totaling over $133 million in sales for Alleghany, Ashe, Avery, and Watauga Counties combined. The combined median sales price came in at $467,500. The median days on the market for these properties combined was 57 days.
INVENTORY: There are 579 active Residential properties in the MLS in our four-county area—240 of those coming onto the market as new during September. The months’ supply of inventory is 2.6 for Residential properties, up for our market from this same time last year.
LAND: . We currently have 1,641 land listings active in our High Country market, equating to a 17-month supply of land in our area. In September, our realtors closed on ninety-five land sales totaling over $10.5 million combined sales in our four counties.
COMMERCIAL: Currently reported in the High Country MLS are forty-eight active commercial properties for sale. There were five sales in September for a combined total of over $1.5 million.
Alleghany County: Realtors had eighteen closed sales on residential properties in the county during September for a combined amount of $6.3 million. The median sales price was $330,863, and the median days on the market were 66 days. Alleghany has forty-three active residential properties and a 2.4-month supply of inventory.
Ashe County: Realtors had forty-four closed sales on residential properties in September with a combined amount of $17.1 million. The median sales price in the county was $364,950, and the median days on the market were 54 days. There are currently 104 residential properties active and a 2.4-month supply of inventory in Ashe County.
Avery County: Realtors had sixty-two closings during the month on residential properties for a combined amount of $35.2 million. The median sales price was $501,000, and the median days on the market were 68 days. The number of active residential properties in the county is 174, which is a 2.8-month supply of active inventory for the county.
WATAUGA County: Realtors had 105 closed sales on residential properties totaling $74.9 million in sales. The median came in at $605,000, up compared to this time last month and this time last year. The median days on the market were 55 days. Currently, there are 266 active residential properties in the county for sale, equating to a 2.5-month supply of inventory.
INTEREST RATES: Nationally: According to Inman News, Mortgage rates hit a 20-year high as demand is ‘close to multi-decade ‘ low. In a statement, the Mortgage Bankers Association, Deputy Chief Economist, Joel Kan said. “The 30-year fixed mortgage rate is 7.67 percent – the highest level since 2000 and 40 basis points higher than in September. “ “Application activity remains depressed and close to multi-decade lows, with purchase applications still almost 20 percent behind last year’s pace. Refinance applications are also limited, and the average loan size has fallen to its lowest level since 2017.”
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 – Info Hub. A public graphic is available on our website homepage at highcountryrealtors.org.
