High Country Real Estate Sales Report January 2025
January 2025 High Country Real Estate Market Report
As we step into the new year, the real estate market in the High Country continues to reflect shifting trends across Alleghany, Ashe, Avery, and Watauga Counties. January brought a decline in the number of closed sales, yet an increase in total sales volume, highlighting the evolving dynamics of our local market.
Market Highlights
Sales Down: Residential sales saw a 35.5% decline compared to January 2024.
Total Sales Volume Up: Despite fewer closings, total sales reached $44.3 million, significantly higher than the $10.9 million recorded in January 2024.
Median Sales Price Drop: The combined median sales price across all four counties was $390,950, reflecting a 20.5% decrease compared to the same time last year.
Weather Impact: Harsh winter conditions may have contributed to the lower number of closings this January.
National Housing Market Trends
According to Lawrence Yun, Chief Economist of the National Association of Realtors® (NAR), market conditions are showing signs of improvement:
“Things are looking up. With rates and prices stabilizing, home sales will continue the upward trajectory that started in the final months of 2024.”
The latest NAR report also suggests that over the next four years:
Existing-home sales are projected to reach 20 million.
New-home sales are expected to rise to 3.5 million.
Mortgage rates of 7-8% are in the past, with anticipated rate cuts in 2025 as the Federal Reserve shifts toward a less restrictive monetary policy.
These trends suggest a more favorable environment for buyers and sellers as the year progresses.
County-Level Market Breakdown
Alleghany County
Residential Sales: 5 closings with a median price of $490,000 (+63.9% from January 2024).
Active Listings: 52 residential properties; 216 land listings.
Land Market: 3 land sales (-62.5% from last year), with a median price of $43,000.
Ashe County
Residential Sales: 21 closings (+16.7%), with a median price of $349,000 (-17.6% from January 2024).
Active Listings: 71 residential properties; 347 land listings.
Land Market: 13 land sales, with a median price of $40,500.
Avery County
Residential Sales: 16 closings, with a median price of $305,000 (-24.0% from January 2024).
Active Listings: 170 residential properties; 260 land listings.
Land Market: 6 land sales, with a median price of $70,000.
Watauga County
Residential Sales: 38 closings, with a median price of $470,000 (-31.9% from January 2024).
Active Listings: 245 residential properties; 413 land listings.
Land Market: 20 land sales (-37.5% from last year), but the median price jumped to $127,500 (+45.7% from January 2024).
Inventory & Market Trends
Residential Inventory: 538 active listings for single-family homes and condos/townhouses.
New Listings: 127 new properties entered the market in January 2025.
Supply Growth: The inventory supply is now at 6.7 months, reflecting a 67.8% increase compared to January 2024.
Land Market Trends:
1,236 active land listings—a 29.4-month supply.
Land sales totaled $6.9 million, an increase from the previous year.
Commercial Market Trends: 45 active commercial listings in the High Country MLS.
One commercial sale closed in January 2025 at $610,000.
What to Expect Moving Forward With inventory levels rising and mortgage rates expected to decline, the High Country real estate market is poised for shifts in buyer and seller activity. As winter conditions ease and interest rates potentially stabilize, we may see a rebound in transaction volume in the coming months.
Stay Ahead with Expert Guidance
Navigating the real estate market can be complex, but Lori is here to help you make informed decisions, whether you’re looking to buy, sell, or invest.
About 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.
