High Country Real Estate Sales Report November 2024
The High Country real estate market, spanning Alleghany, Ashe, Avery, and Watauga Counties, experienced notable shifts in November 2024. Sales dropped by 27.8% year-over-year, while inventory rose 3.0% compared to November 2023. A total of 117 residential properties (single-family homes and condo/townhouses) closed during the month, with a combined sales volume of $92.0 million. The median sales price increased by 20.0%, reaching $530,000 across the four counties.
National Real Estate Trends
According to the National Association of Realtors® (NAR), existing-home sales increased by 4.8% in November, the most significant year-over-year rise since June 2021. NAR reports highlighted growth in three U.S. regions, while the West remained stable. Sales climbed year-over-year across all regions, signaling resilience in the housing market.
High Country Real Estate Market Overview
Residential Market Highlights:
Active Listings: 677 single-family and condo/townhouse listings were available in November 2024, with 166 new properties entering the market.
Inventory Supply: The market has a 5.8-month supply, up 42.7% compared to November 2023.
Land Market Highlights:
Active Land Listings: 1,350 properties were listed for sale, reflecting a 31.4-month supply.
Land Sales Volume: November land sales totaled $3.7 million, showing an upward trend year-over-year.
Commercial Market Highlights:
Active Listings: 41 commercial properties were listed in November.
Sales Volume: Three commercial properties sold during the month for a combined $1.5 million.
County-Specific Real Estate Performance
Alleghany County
Residential Sales: 9 closings | Median Price: $399,900 | Active Listings: 61
Land Sales: 5 transactions | Median Price: $35,000 | Active Listings: 230
Ashe County
Residential Sales: 23 closings | Median Price: $445,000 | Active Listings: 99
Land Sales: 17 transactions | Median Price: $44,000 | Active Listings: 376
Avery County
Residential Sales: 25 closings | Median Price: $730,000 (highest median price in the region) | Active Listings: 231
Land Sales: 7 transactions | Median Price: $50,000 | Active Listings: 285
Watauga County
Residential Sales: 60 closings | Median Price: $534,800 | Active Listings: 286
Land Sales: 14 transactions | Median Price: $46,750 | Active Listings: 459
Mortgage Market Update
NAR Chief Economist Lawrence Yun notes increased buyer activity due to job growth, higher housing inventory, and a shift in consumer expectations regarding mortgage rates (6%-7%).
Working with Realtor 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.
