High Country Real Estate Sales Report May 2024
The High-Country real estate market in Alleghany, Ashe, Avery, and Watauga Counties showed gradual increases in both sales and inventory in May. A total of 170 single-family and condo/townhouse properties were sold, generating $86.5 million. The combined median sales price for these properties was $428,413.
National Perspective: The National Association of Realtors® reported a 0.7% decrease in existing-home sales for May, with a record-high median sales price of $419,300.
Inventory: Alleghany, Ashe, Avery, and Watauga Counties had 739 active single-family and condo/townhouse listings in May, with 351 new listings. This represents a 4.3-month supply of inventory, up 20.2% compared to the same period last year.
Land: There were 1,498 active land listings across the four counties in May, equating to a 19.7-month supply.
Commercial: The High Country Multiple Listing Service reported fifty commercial properties listed. In May, Ashe County had two commercial sales totaling $999,000, and Watauga County had one sale for $325,000.
County Breakdown:
Alleghany County: 22 residential sales with a median price of $324,500. There are 70 active residential listings. Nine land sales were completed with a median price of $54,000, and there are 237 active land listings.
Ashe County: 38 residential sales with a median price of $442,959. There are 125 active residential listings. Twenty-three land sales were made with a median price of $50,000, and there are 454 active land listings.
Avery County: 35 residential sales with a median price of $288,000. There are 224 active residential listings. Ten land sales were recorded with a median price of $95,625, and there are 289 active land listings.
Watauga County: 75 residential sales with a median price of $486,000. There are 321 active residential listings. Thirty-four land sales were made with a median price of $115,000, and there are 518 active land listings.
Mortgage News:
Jeff Reeves of Fairway Mortgage announced on June 11th that the U.S. Department of Veterans Affairs (VA) will temporarily allow buyers using a VA mortgage to cover their agent’s commission with cash at closing, in addition to the no down payment option. This is beneficial news for clients considering a VA loan.
Working with Lori
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.
