February 2023 MLS REPORT:
In the High-Country Real Estate Market four-county area of Alleghany, Ashe, Avery, and Watauga counties the High-Country MLS reports during February 129 Closed Sales of Residential Single Family, Condo/Townhouse properties. Those sales came to a combined total of $61.1 million. The Median Sales Price was $372,250, close to what the National Association of Realtors reports the median for the nation, that being $359,000. Median Days on Market for February shows 68 days. All these numbers are very similar to this same time last year where we saw 166 closed sales with a median sales price of $392,500.00 and 64 median days on market.
INVENTORY: February saw 371 in Active Inventory of Residential Single Family including Condo/Townhouse listings with 164 of those being new listings coming on the market during the month of February. February’s Months’ Supply of Inventory is 2.9 months. NAR too reports a 2.9 months’ supply at the currently monthly sales pace for the country. This High Country inventory is up 40.0% compared to the month of February of 2022.
LAND: Our MLS recorded 77 land sales during the month of February for a combined total of $8.3 million in sales. The High Country Region has a 23.1 Month Supply of Inventory for land listed.
There were 19 tracts in Watauga County, that sold for $1.6 million. Avery County recorded 14 tracts totaling $1.2 million. Ashe County recorded 23 tracts selling for $2.3 million and Alleghany recorded 11 tracts that sold for $701,350. The other 10 tracts were listings for land outside of Ashe, Avery, Alleghany, and Watauga counties but recorded in the High Country MLS.
COMMERCIAL: The High Country MLS recorded four commercial sales during the month of February with two of those sales occurring in our four-county area and the other two outside of our jurisdiction. The combined sales total of the four commercial sales was $4,710.000.
Alleghany County: REALTORS® sold 20 Single Family, Condo/Townhouse properties during February. The Median Sales Price was $280,000.00 during February.
Ashe County: REALTORS® sold 28 Single Family, Condo/Townhouse properties with a Median Sales Price of $308,250.00 during February.
Avery County: REALTORS® sold 26 Single Family, Condo/Townhouse properties with a Median Sales Price of $478,000.00 in February.
WATAUGA County: REALTORS® sold 55 Single Family, Condo/Townhouse properties in February with a Median Sales Price of $423,500.00.
Avery County shows the largest Months Supply of Inventory during the month at a 4.9 Months Supply.
INTEREST RATES: According to Freddie Mac, the Interest rates on 30-year fixed rate mortgage averaged 6.32% in mid-February. One year ago, the rate was 3.92%.
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 A public graphic is available on our website homepage at highcountryrealtors.org.