By Bill Aceto, REALTOR, Blue Ridge Realty & Investments, LLC
The first week in November is already gone. How did that happen? Thanksgiving is only two weeks away! I guess it’s true what they say…time flies whether you’re having fun or not! But I hope you’re having fun.
Even though we’re already into November, let’s pause for just a moment and take a look back at October real estate statistics for the High Country.
According to the High Country Association of REALTORS, 213 residential properties were sold in the High country in the month of October. For this period, these properties were located in Alleghany, Ashe, Avery, burke, Caldwell, Catawba, McDowell, Mitchell, Watauga, Wilkes and Yadkin counties in North Carolina and Johnson county in Tennessee.
The minimum List Price was $122,000, the maximum List Price was $3,150,000, the average List Price was $584,425 and the median List Price was $499,000.
The minimum Sales Price was $75,000, the maximum Sales Price was $2,900,000, the average Sales Price was $561,657, and the median Sales Price was $475,000.
The maximum bedroom/bathroom count was 7/7, the average bedroom/bathroom count was 3/3, the median bedroom/bathroom count was 3/2.
Maximum Heated Living Area (HLA) was 7060, average HLA was 1822.
Maximum acreage was 48.6, average acreage was 1.89 and median acreage was .68 acres.
The average ratio of Sales Price to List Price was 97% and the median ratio of Sales Price to List Price was also 97%.
Maximum days on market was 437, average was 74 and median was 56.
There were 95 Land sales in October in Alleghany, Ashe, Avery, Caldwell, Watauga and Wilkes counties.
The minimum List Price was $6,000, the maximum List Price was $1,400,000, the average List Price was $141,086 and the median List Price was $79,000.
The maximum Sales Price was $1,100,000, the average Sales Price was $120,829, and the median Sales Price was $65,000.
Minimum Acreage was 0.27, maximum acreage was 68.5, average acreage was 6.01 and median acreage was 1.9 acres.
The average ratio of Sales Price to List Price was 85% and the median ratio of Sales Price to List Price was 91%.
Maximum days on market was 1076, average was 178 and median was 117.
As of the writing of this article, there were 687 active residential listings in the MLS for the High Country Association of REALTORS.
The minimum List Price is $73,900, the maximum List Price is $97,500,000, the average List Price is $990,172 and the median List Price is $610,000.
The maximum is 11/13, while both the average and median are 3/3. The maximum Heated Living Area is 20,369 and the average is just over 2325.
Maximum acreage is 6458, the average acreage is 14.13 and the median is .94.
Average days on market is 97 and median is 69.
There are currently 303 residential listings in the statuses either “under contract continue to show” or “under contract no show.” The average list price is $693,542 and the median list price is $475,000. Average days on market is 77 and median days on market is 50.
Right now interest rates are starting to fall a little and the Fed has paused raising rates which has helped the market stabilize. While our market has less inventory than we’d like to see, as the market stabilizes we’ll start to see more.
Hope this look into the October sold statistics and current active market for real estate in the High Country was an interesting glimpse into our market.
Keep enjoying the season of gratitude!