High Country Real Estate Market Overview
In April, the High Country real estate market encompassing Alleghany, Ashe, Avery, and Watauga Counties experienced a productive month. High Country REALTORS® closed 145 transactions involving single-family homes, condos, and townhouses, totaling $88.4 million in sales. The combined median sales price for these counties stood at $510,000.
National Perspective
Nationally, according to the National Association of Realtors® Chief Economist Lawrence Yun, “2023 was the worst year since 1995 for Annual Existing Home Sales, yet it was the third-best year since 2008 for Annual New Home Sales. Existing home inventory continues to decline, while new home inventory is rising.” Yun’s Economic and Real Estate Outlook report also predicts a rise in total home sales over the next two years, returning to pre-pandemic levels. He shared these insights during a spring luncheon with the High Country Association of Realtors®.
Inventory Details
- Residential Inventory:
Active listings: 614
New listings in April: 268
Months’ Supply of Inventory: 4.2
Median Days on Market: 57
- Land Inventory:
Active land listings: 1,467
New land listings in April: 177
Months’ Supply of Inventory: 24.9
Median Days on Market: 85
- Commercial Inventory:
Active commercial listings: 50
County-Specific Data
Alleghany County:
- Residential closings:
8 properties
Total sales: $3.3 million
Median Sales Price: $344,750
Median Days on Market: 40
Land closings: 9 properties totaling $722,000
Commercial sales: 1 property at $500,000
- Ashe County:
Residential closings: 32 properties
Total sales: $15.3 million
Median Sales Price: $391,500
Median Days on Market: 42
Land closings: 21 properties totaling $1.8 million
No commercial sales reported
- Avery County:
Residential closings: 28 properties
Total sales: $18.5 million
Median Sales Price: $504,500
Median Days on Market: 64
Land closings: 5 properties totaling $1.04 million
Commercial sales: 1 property at $600,000
- Watauga County:
Residential closings: 77 properties
Total sales: $51.1 million
Median Sales Price: $565,000
Median Days on Market: 65
Land closings: 24 properties totaling $4 million
No commercial sales reported
Interest Rates
According to Lisa Brown of Guild Mortgage, both Fannie Mae and the MBA forecast that mortgage rates will decline to 6.40% by the end of the year.
Disclaimer: Figures are based on information from the High Country Multiple Listing Service. Data is for informational purposes and may not be completely accurate due to MLS reporting processes. This data reflects a specific point in time and may not be perpetually valid due to market fluctuations.
Report Access: Graphics generated from Domus Analytics are available via the HCAR Web API feed. HCAR Realtor® members can access detailed and customizable reports and graphics through the HCAR dashboard. A public graphic is available on our website homepage at highcountryrealtors.org.
Working with Lori Eastridge, Real Estate Professional
Working with a local real estate professional is crucial when buying or selling your home. If you’re looking for a seasoned Realtor® in North Carolina’s high country, go no further than Lori Eastridge, Realtor®/Broker of NC High Country Real Estate, powered by Realty One Group Select. As a Certified Luxury Home Marketing Specialist™ (CLHMS) epitomizes the pinnacle of professionalism in the high-end real estate market, offering unparalleled expertise and knowledge in luxury properties. This prestigious certification is a testament to an agent’s exceptional skills in marketing, negotiating, and selling upscale homes, ensuring that they can meet and exceed the unique needs of affluent buyers and sellers. A CLHMS has access to exclusive market insights and a global network, enabling them to effectively target and attract the right audience for luxury listings. By choosing a Certified Luxury Home Marketing Specialist™, clients can rest assured that their high-value real estate transactions are handled with the utmost care, precision, and effectiveness, leading to successful outcomes that align with their refined lifestyles and aspirations.
Lori has an in-depth familiarity with the market and surrounding areas, a tailored marketing plan second to none, allowing her to help you sell your home with low stress and at the best possible price. Lori supports buyers and sellers by giving them the best professional advice and will get to the closing table with ease. Lori’s commitment to ensuring her clients are happy and well educated shines through in the individualized service she provides.
Because of Lori’s many connections in the high country, she is able to offer full-service assistance to her clients at every stage of the home-selling and home-buying process. Lori is fully invested in your success throughout the entire process, from the first call or meeting to negotiation and closing. Lori’s attention to detail and client satisfaction are her primary goals and what set her apart from other real estate professionals. She strives to exceed client expectations. Get in touch with Lori today at 828.773.2080.
