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High Country Real Estate: June Stats for Real Estate in the High Country

By Tim Gentry, REALTOR, Blue Ridge Realty & Investments, LLC

Hope you all enjoyed the 4th of July week here in the High Country! 

It’s hard to believe June is already behind us and 2023 is already half over. Let’s still take a look at some real estate statistics for the month of June for the High Country.

According to the High Country Association of REALTORS there were 226 residential sales for the month of June. 

The lowest list price was $74,900 and the lowest sales price was $99,000. The highest list price was $5,200,000 and the highest sales price was $4,700,000. The average list price was $563,118 and the average sales price was $544,971. The median list price was $475,000 and the median sales price was $462,500.

The average heated living area of residential unit sold was 1872 and the average acreage was 1.85 acres. The average days on market were 71 and the median days on market were 43.

Looking at the same thirty day period for June 2022, there were 259 residential sales.

The lowest list price was $73,900 and the lowest sales price was $75,000. The highest list price was $3,850,000 and the highest sales price was $3,475,000. The average list price was $505,973 and the average sales price was $502,159. The median list price was $409,000 and the median sales price was $410,000.

The average heated living area of residential unit sold was 1807 and the average acreage was 2.08 acres. The average days on market were 62 and the median days on market were 44.

While there were fewer sold units in June 2023 than June 2022, it’s not surprising, since inventory is down significantly nationwide.  The minimum list price was up this year by $1000 and the minimum sales price was up by $24,000 (32%). 

The maximum list and sold prices were both up, but those are singular statements on individual luxury homes and are not true indicators of year over year changes the way minimums and averages are. 

The average list price is up by 11% and the average sales price is up by 8.5%. Even more telling, the median list price is up from 2022’s $409,000 to 2023’s $475,000 (a gain of 16%) and the median sales price was up from 2022’s $410,000 to 2023’s $462,500 (up 12.8%).

The average days on market are up by 9, and median days on market are down by 1. 

Overall, the statistics for June 2023 compared to June 2022 are a reflection of a healthy real estate market. 

While fewer sales in June does mean the overall volume for June 2023 will be less than that of June 2022, fewer sales can be chalked up to less inventory. However, the sales that did occur in June 2023 appear to be stronger than those in June last year despite higher interest rates.

What does all of this mean? It’s simple. Real Estate in the High Country is still robust  and a great place to invest!