SEPTEMBER 2024 MLS REPORT
The High Country Real Estate Market of Alleghany, Ashe, Avery, and Watauga Counties saw sales down 26.1%, and inventory climbed 14.1% during September compared to September 2023. For September, there were 170 closed sales on single-family and condo/townhouse properties. The combined closing total for the month was $120.6 million. The combined median sales price for our four counties was $549,450 up 14.5% compared to this same time a year ago.
Nationally: According to a recent report from the National Association of Realtors® https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales: “In August 2024, existing-home sales fell in the South, West, and Northeast, while the Midwest registered no change. Year-over-year, sales slipped in three regions but remained stable in the Northeast.”
INVENTORY: Alleghany, Ashe, Avery, and Watauga Counties had 721 active single-family and condo/townhouse listings during September, with 179 of those being new listings coming onto the market. This is a 4.2 supply of inventory, up an impressive 54.3% compared to this same time a year ago.
LAND: Our four counties had 1,458 active land listings during September, a 22.1-month supply of local land inventory. This is slightly up compared to September 2023. Land sales for September were $6.2 Million.
COMMERCIAL: Currently reported to the High-Country Multiple Listing Service, forty commercial properties are listed. In September, four commercial sales within the four counties combined for $1.4 million.
Alleghany County: Realtors closed on seventeen total residential sales. The county's median sales price for September is $350,000. There are currently sixty active residential listings in the county. Four land closings were coming in for September, with a median sales price of $29,500. There are currently 247 active land listings in Alleghany County.
Ashe County: Realtors closed on twenty-nine residential sales for September, and that median sales price came in at $430,000. There are 104 active residential properties in the county. There were twenty-nine land sales for September, and the median sales price was $40,000. There are currently 409 active land listings in Ashe County.
Avery County: Realtors closed on thirty-nine residential properties during the month, with a median sales price of $575,000 for September. There are 240 active residential properties currently. Avery County saw ten land sales in September, with a median sales price of $80,000. There are 298 active listings for land in Avery County.
Watauga County: Realtors closed on eighty-five residential properties in September, and that median sales price was the largest in our counties, at $640,000. There are 315 active residential properties in the county. There were twenty-three land sales, and the median sales price was $92,500. There are currently 504 active listings for land in Watauga County.
Mortgage News: A recent report from Jessica Lautz, Deputy Chief Economist & Vice President, NAR Research: “The average 30-year fixed mortgage rate from Freddie Mac jumped to 6.32% during the first part of October. At 6.32% with 20% down, a monthly mortgage payment is $1,985 on a home with a price of $400,000. With 10% down, the typical payment would be $2,233.”
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.