By Linda Cramblit, REALTOR
Not sure if it came in like a lion and went out like a lamb, but March marched in and has now marched out.
March saw 150 closed single family sales in the High Country Association on REALTORS Multiple Listing Service. Of those 150 sales, 128 were in Alleghany, Ashe, Avery and Watauga counties, the area we look at most closely when analyzing High Country Real Estate. Of those 128, 32 were condos or townhomes and 96 were single family detached.
List prices ranged from a minimum of $75,000 to a maximum of $1,500,000 with an average List Price of $523,619 and a median List Price of $447,000. Sold prices went from a minimum of $72,100 to a maximum of $1,576,000 with an average Sold Price of $505,929 and a median Sold Price of $437,000.
Minimum Bedroom and Bath count was 1/1 and the maximum was 4/6 with the average and median both being 3/2. No minimum was recorded for heated living area, but maximum was 4492 and average heated living area was 1704. With condos and townhomes in the mix, of course minimum acres was 0, but maximum was 40.46, average acreage was 1.64 and median was .44 acres.
The average Sales Price to List Price ratio was 96% and the median was 97%. The average days on market was 97 and the median days on market was 76.
For a quick comparison, March of 2023 had 161 closed residential sales with List prices that ranged from a minimum of $50,000 to a maximum of $4,400,000 with an average List Price of $578,788 and a median List Price of $420,000. Sold prices went from a minimum of $46,000 to a maximum of $4,400,000 with an average Sold Price of $561,229 and a median Sold Price of $415,000.
The average Sales Price to List Price ratio was 96% and the median was 97%. The average days on market was 96 and the median days on market was 61.
March 2024 minimums were higher but the high value of 2023s maximum likely threw off the average, making it higher than it would normally have been. Telling, however, is that both Median List Price and Median Sold Price were higher in 2024. The average and median Sales Price to List Price ratio were 96% and 97% for both 2023 and 2024. 2024 average days on market was one day greater than 2023, but the median days on market for 2024 was 76 compared to March of 2023’s 61.
All data from both time periods comes from the High Country Association of REALTORS MLS.
It looks as though inventory is still an issue, and it seems as though list prices are still increasing, or at the very least holding steady, though it does appear homes are staying on the market a little bit longer.
As we move into one of the busier times in the real estate season, we’ll be watching the stats over the next few months to see if these trends continue. But we know the High Country is a strong real estate market and will weather the seasons!
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