By Lauren Steinbaugh, REALTOR, Blue Ridge Realty & Investments, LLC
October 2024 saw 214 closed single family sales in the High Country Association of REALTORS Multiple Listing Service. Of those 214 sales, 182 were in Alleghany, Ashe, Avery and Watauga counties, the area we look at most closely when analyzing High Country Real Estate. Of those 182, 30 were condos or townhomes and 152 were single family detached.
List prices ranged from a minimum of $99,900 to a maximum of $29,750,000 with an average List Price of $780,845 and a median List Price of $467,500. Sold prices went from a minimum of $99,900 to a maximum of $14,000,000 with an average Sold Price of $660,470 and a median Sold Price of $450,000.
Minimum Bedroom and Bath count was 0/1 and the maximum was 8/7 with the average being 3/3 and median being 3/2. The minimum HLA was 364, the maximum HLA was 8750 and average heated living area was 2000. With condos and townhomes in the mix, of course minimum acres was 0, but maximum was 46, average acreage was 1.86 and median was .63 acres.
The average Sales Price to List Price ratio was 95% and the median was 97%. The average days on market was 98 and the median days on market was 71.
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. We imagine this change will impact the numbers for months to come.
October 2023 saw 196 closed sales in Alleghany, Ashe, Avery and Watauga counties. List prices ranged from a minimum of $122,000 to a maximum of $3,150,000 with an average List Price of $596,913 and a median List Price of $499,900. Sold prices went from a minimum of $75,000 to a maximum of $2,900,000 with an average Sold Price of $575,099 and a median Sold Price of $502,000.
The average Sales Price to List Price ratio was 97% and the median was 98%. The average days on market was 75 and the median days on market was 56.
There was, obviously, an impact from Helene on October’s sales. Can we quantify exactly how much? No. We can say that for the most part this year, when comparing with 2023, the sale count 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. But nothing like this.
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.
Y’all take care. Stay safe. Help each other where and when you can. We’ll do the same.
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