By Andrew Plyler, REALTOR, Blue Ridge Realty & Investments, LLC
The final word on 2023. Today we’re looking at the final numbers for 2023 for High Country Real Estate (Allegheny, Ashe, Avery & Watauga counties).
All data, as usual, comes from the High Country Association of REALTORS Multiple Listing Service.
There were a total of 2051 residential sales in 2023. That’s an average of 170.9 sales per month. Of course, if you’ve been following Real Estate in the High Country, you know some months it was well into the 200s and some months well below the 170 mark.
The lowest List Price was $49,000, the highest List Price was $5,200,000. The average List price was $586,373 and the median List Price was $459,000. The lowest Sales Price was $43,800, and the highest was $4,700,000 with an average of $566,290 and a median Sales Price of $450,000. The minimum Sold Price to List Price ratio was 50%, but the highest was 232%; the average and medians came in at 97% and 98% respectively.
Maximum was 7/9, the average was 3/3 and the median was 3/2. While some homes were entered with 0 Heated Living Area, the maximum Heated Living Area was 11,733 and the average was 1838. Maximum acreage was 155.41, the average was 2.19 and the median was .56 acres.
The average Days on Market was 82 and the median was 53.
Of these 2051 residential sales, 1568 were single family and 483 were condos or townhomes.
Turning to land sales, using the same search criteria, there were an even 972 sales for 2023.
The lowest List Price was $2,500, the highest List Price was $3,487,000. The average List Price was $132,086 and the median List Price was $69,000. The lowest Sales Price was $0 because the parcel was bundled with an adjoining lot. The lowest listed sold price was $1,500, and the highest was $3,487,500 with an average of $118,556 and a median Sales Price of $60,000. The highest Sold Price to List Price ratio was 186%; the average and medians came in at 89% and 91% respectively.
The least amount of acreage listed is listed as 0.0 acres, but that is because a survey was required for the entire parcel. The true smallest parcel was .09 acres and the maximum was 365, while the average was 6.56 acres and the median was 1.5 acres.
The average Days on Market for land (from small lots to large tracts) was 227 and the median was 126.
One category we usually don’t look at monthly stats for is multi-family, because, well, there’s just not a lot of it. As if to prove that point, for all of 2023, there were a total of 9 sales of multi-family properties listed in High Country MLS.
Lowest List Price was $190,000, Maximum was $725,000, Average $430,556 and Median $365,000. Sold Price ranged from $176,000 to $750,000with an Average of $414,944 and a Median sales price of $365,000. An average of 71 Days on Market and a Median of 60. Five were listed as duplexes, one as a triplex, one as an apartment building and two as other.
So, that’s a wrap for you real estate stats for 2023.
Onward 2024!
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