By Holly Meyers, REALTOR, Blue Ridge Realty & Investments, LLC
November 2024 saw 139 closed single family sales in the High Country Association of REALTORS Multiple Listing Service. Of those 139 sales, 115 were in Alleghany, Ashe, Avery and Watauga counties, the area we look at most closely when analyzing High Country Real Estate. Of those 115, 32 were condos or townhomes and 83 were single family detached.
List prices ranged from a minimum of $167,000 to a maximum of $14,000,000 with an average List Price of $820,385 and a median List Price of $560,000. Sold prices went from a minimum of $150,000 to a maximum of $15,850,000 with an average Sold Price of $792,125 and a median Sold Price of $530,000.
Minimum Bedroom and Bath count was 1/1 and the maximum was 6/8 with the average being 3/3 and median being 3/3. The minimum HLA was 448, the maximum HLA was 13,446 and average heated living area was 2204. With condos and townhomes in the mix, of course minimum acres was 0, but maximum was 54.5, average acreage was 1.83 and median was .49 acres.
The average Sales Price to List Price ratio was 95% and the median was 97%. The average days on market was 123 and the median days on market was 92.
Usually when looking back on the previous month, we’ll also compare the month to the same month from the previous year. This year that comparison is more telling because of Helene, just as it was for October; actually, more so. We imagine this change will impact the numbers for months to come.
November 2023 saw 162 closed sales in Alleghany, Ashe, Avery and Watauga counties. List prices ranged from a minimum of $89,000 to a maximum of $3,400,000 with an average List Price of $560,280 and a median List Price of $457,000. Sold prices went from a minimum of $68,250 to a maximum of $3,200,000 with an average Sold Price of $541,053 and a median Sold Price of $441,500.
The average Sales Price to List Price ratio was 97% and the median was 97%. The average days on market was 68 and the median days on market was 51.
There was, obviously, an impact from Helene on November’s sales. For the most part this year, when comparing with 2023, inventory counts might have been down, but the list prices and sales prices were up. Days on market were up slightly some months, LP/SP ratios were up by a percent or two.
The drop in number of sales is not a surprise, and the rise in average and median sales prices after October’s dip is encouraging. The numbers that truly reflect Helene’s impact though? The drop of Sales Price/List Price Ratio from 97% in November 2023 to November 2024 and the increase in Average Days on Market from 68 to 123. To be clear, these are likely one offs due to the immediate after effects of Helene and not a worrying trend. Still, it’s a reminder of all that recovery from Helene encompasses.
As we said about October stats, it’s not unexpected. It’s not even as bad as it could be. But it is another thing Helene has taken from us. But it is also another thing that will rebound, another thing that will recover with time.
We hope as you open your hearts to the coming holiday season that you are able to find more hope in the healing and recovery than pain in the loss. We are here with you. Be safe. Take care.
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