December 2024 High Country Real Estate Market Report
As we wrap up the year, the High Country real estate market has shown significant shifts across Alleghany, Ashe, Avery, and Watauga Counties. Whether you’re buying, selling, or simply curious about the local market, this report will give you a clear picture of the trends shaping our area.
Market Highlights
Sales Down: Residential property sales decreased by 24.8% compared to December 2023.
Inventory Up: Active listings rose by 2.7%, with 580 single-family and condo/townhouse properties on the market.
Median Sales Price Growth: The combined median sales price climbed 6.4% to $500,000.
The High Country recorded 121 closed residential sales in December 2024, with a total value of $76.6 million—down from $101.1 million in December 2023. Hurricane Helene is likely a contributing factor to this year-over-year difference.
National Perspective
According to the National Association of Realtors®, the housing market is stabilizing. Chief Economist Lawrence Yun notes:
“Home sales momentum is building. More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers adjust to mortgage rates between 6% and 7%.”
County-Level Analysis
Alleghany County
Residential Sales: 8 closed sales with a median price of $263,500 (down 7.4% from 2023).
Active Listings: 52 residential properties; 215 land listings.
Land Market: 8 land sales with a median price of $63,000.
Ashe County
Residential Sales: 23 closed sales (41.0% decrease), with a median price of $385,000 (up 11.6%).
Active Listings: 87 residential properties; 340 land listings.
Land Market: 13 land sales with a median price of $38,500.
Avery County
Residential Sales: 30 closed sales with a median price of $462,500 (down 7.5%).
Active Listings: 191 residential properties; 253 land listings.
Land Market: 8 land sales with a median price of $52,500.
Watauga County
Residential Sales: 60 closed sales with a median price of $615,000 (up 15.0%).
Active Listings: 250 residential properties; 429 land listings.
Land Market: 25 land sales with a median price of $38,000.
Land and Commercial Markets
Land Inventory: Across the four counties, 1,237 active land listings represent a 22.5-month supply, with sales totaling $5.4 million for December.
Commercial Properties: 34 active listings, but no commercial sales were reported.
Trends to Watch
Inventory Growth: A 36.6% increase in the supply of residential properties compared to December 2023 suggests a more balanced market heading into 2025.
Steady Land Activity: The land market remains active, offering opportunities for those considering development or investment.
Median Price Growth: Higher median prices in key counties like Watauga indicate ongoing demand for prime properties.
Looking Ahead
The real estate market in the High Country continues to evolve, providing unique opportunities for buyers, sellers, and investors. With Lori’s expertise, you can confidently navigate these changes and make the most of what this vibrant region has to offer.
Working With Lori Eastridge
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.
