May 2024 MLS REPORT
The High-Country Real Estate Market of Alleghany, Ashe, Avery, and Watauga Counties saw sales and inventory alike inching up during the month of May. For the month of May there were 170 closed sales on single family, and condo/townhouse properties. That combined closing total came in at $86.5 million for the month. The combined median sales price was $428,413.
Nationally: According to a recent National Association of Realtors® report “Existing-Home Sales Edged Lower by 0.7% in May as Median Sales Price Reached Record High of $419,300.”
INVENTORY: Alleghany, Ashe, Avery, and Watauga Counties had a single family, condo/townhouse inventory of 739 in active listings during the month and 351 of those being new coming onto the market in May. This is a 4.3 months supply of inventory up 20.2% compared to this same time last year.
LAND: There were 1,498 active land listings in our four counties during May. This is a 19.7 months supply of inventory for local land.
COMMERCIAL: Currently reported to the High Country Multiple Listing Service there are fifty commercial properties listed. There were two commercial sales in Ashe County during May for a total of $999,000. Watauga County had one commercial sale in May and that was for $325,000.
Alleghany County: Realtors closed on twenty-two in total residential sales. That median sales price for the county comes in at $324,500 for May. There are currently seventy active residential listings for the county. There were nine land closings coming in for May with a median sales price of $54,000. There are 237 active land listings in Alleghany County currently.
Ashe County: Realtors closed on thirty eight residential sales for May and that median sales price came in at $442,959. There are 125 active residential properties in the county. There were twenty-three land sales for May and that median sales price was $50,000. There are currently 454 active land listings in Ashe County.
Avery County: Realtors closed on thirty-five residential properties during the month with a median sales price coming in at $288,000 for May. There are 224 active residential properties currently. Avery County saw ten land sale closings in May and that median sales price was $95,625. There are 289 active listings for land in Avery County.
Watauga County: Realtors closed on seventy five residential properties in May and that median sales price was the largest for our counties at $486,000. There are 321 active residential properties in the county. There were thirty-four land sales, and that median sales price was $115,000. There are currently 518 active listings for land in Watauga County.
Mortgage News: Affiliate member, Jeff Reeves of Fairway Mortgage has sent out the following to local REALTORS®, “Announced Tuesday, June 11th, the U.S. Department of Veterans Affairs (VA) will temporarily allow buyers using a VA mortgage to pay for their agent's commission! However, the buyer-broker fee cannot be rolled into the loan itself and must be paid with cash at closing. Combined with the option for no down payment,* this is great news for your clients considering a VA loan.” Thank you, Jeff for helping get this great news out to our members and their clients.
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. A public graphic is available on our website homepage at highcountryrealtors.org.