July 2024 Was a Better Month for Real Estate in the High Country than Last Year

By  Michelle Hammond, REALTOR, Blue Ridge Realty & Investments, LLC

Summer is winding down and school will be starting soon. It’s time to grab on to these last golden days of summer, enjoy the sun and warmth with family and friends before they are gone. July is gone and we’re well into August, so let’s make the most of the summer we have left.

Before we move on completely though, let’s take a look at the stats for real estate in the High Country for July 2024.

July saw 230 closed single family sales in the High Country Association of REALTORS Multiple Listing Service. Of those 230 sales, 201 were in Alleghany, Ashe, Avery and Watauga counties, the area we look at most closely when analyzing High Country Real Estate. Of those 201, 45 were condos or townhomes and 156 were single family detached. 

List prices ranged from a minimum of $140,000 to a maximum of $2,995,000 with an average List Price of $648,834 and a median List Price of $497,520.  Sold prices went from a minimum of $125,000 to a maximum of $2,943,200 with an average Sold Price of $625,634 and a median Sold Price of $478,500. 

Minimum Bedroom and Bath count was 1/1 and the maximum was 6/6 with the average being 3/3 and median being 3/2. The minimum HLA was 400, the maximum HLA was 4827 and average heated living area was 1950. With condos and townhomes in the mix, of course minimum acres was 0, but maximum was 101, average acreage was 2.04 and median was .57 acres. 

The average Sales Price to List Price ratio was 97% and the median was 97%. The average days on market was 81 and the median days on market was 50. 

By comparison, July 2023 saw 192 closed sales in Alleghany, Ashe, Avery and Watauga counties. List prices ranged from a minimum of $55,000 to a maximum of $4,995,000 with an average List Price of $571,766 and a median List Price of $429,450.  Sold prices went from a minimum of $45,000 to a maximum of $4,500,000 with an average Sold Price of $551,866 and a median Sold Price of $425,000.

The average Sales Price to List Price ratio was 98% and the median was 98%. The average days on market was 75 and the median days on market was 50. 

The good news is actually really good! July 2024 was a better month for real estate in the High Country than last year. The average List Price was up over 13% and the average Sold Price was also up over 13%. Median List Price and median Sold Price were both up in 2024 over 2023. The only negatives were small; Days on Market average went from 75 in July 2023 to 81 in July 2024 and SP/LP ratio decreased by 1%.

It’s a great time to be a property owner in the High Country and these statistics are proof.

Now, go out there and enjoy the rest of your summer.