By Sandi Dascoulias, REALTOR, Blue Ridge Realty & Investments, LLC
The official, astronomical end of summer isn’t until Saturday, September 23, though the meteorlogical summer ended August 31.
While the mercury is still spending a lot of its time in the upper range of the thermometer, pumpkin spice has hit the coffee shops and if you look you will notice the leaves are beginning to change. We are 2/3 of the way through 2023 and it won’t be long before the temperature is dropping and the leaves are displaying their most glorious season of splendor.
But for now, let’s look at what the August statistics, now available courtesy of the High Country Association of REALTORS, have to tell us about Real Estate in the High Country for the last month of meteorlogical summer…
There were 250 residential sales for the month of August in the High Country.
The minimum list price was $69,900 and the minimum sold price was $62,000. The maximum list price was $3,990,000, the maximum sold price was $3,890,000. The average list price was $568,849 and the average sold price was $547,179. The median list price was $459,700 and the median sold price was $432,500. The average Sales Price to List Price ratio was 97%.
Other data beyond price was an average size of 1839 heated living area (HLA) with an average of 2.73 acres (median acres was .62). The minimum list price per HLA was $38.87, the maximum list price per HLA was $765.35, and the average list price per HLA was $301.40. The minimum sold price per HLA was $32.97, the maximum sold price per HLA was $706.79, and the average sold price per HLA was $290.71. The median sold price per HLA was $278.27.
The maximum number of bedrooms was 5 and the maximum number of baths was 7. The average was 3 bedrooms, 3 baths The median was 3 bedrooms, 2 baths. Minimum days on market was 0, maximum days on market was 421, average days on market was 72, and median was 54.
Also according to the High Country Association of REALTORS, there were 104 land sales for the month of August. These sales ranged from small neighborhood lots of .22 acres to large tracts of land 0f 59.66 acres; with the average acreage being 6.47 acres and the median acreage being 1.64. The minimum list price was $8000 and the minimum sales price was $6500. The maximum list price was $1,385,000 and the maximum sales price was $1,385,000. The average list price was $135,385 and the average sold price was $122,642. The median list prices was $62,500 and the median sold price was $54,000. The maximum days on market was 2159, the average was 243 and the median days on market was 111.
The number of sales in both single family and land was up in August over July. Some of the averages were up, some were down; there was no consistent trend. Minimums and maximums do not really tell a story since they are not representative of the market, but only a single property.
However, overall, These numbers seem to indicate a still thriving real estate market here in the High Country as we say adieu to August and begin to embrace the onset of Autumn!