By Tom Gidley, REALTOR, Blue Ridge Realty & Investments
We’ve all heard the saying, “The numbers don’t lie.”
But at the same time, most of us have heard Mark Twain’s famous quote, “There’s lies, damn lies, and statistics.”
Still, looking at data, or statistics, if you will pardon us Mr. Twain, does provide valuable insight into what is actually happening beyond headlines, opinions and suppositions.
The first 5 months of 2023 have shown a far more positive real estate outlook in the High Country than the newspaper headlines would have us believe. While we can’t speak to what is going on across the country, we know what is going on here in our little corner of the world is far from dismal. As a matter of fact, it looks pretty good.
Since January 1, 2023 through May 30, 2023 the High Country Association of REALTORS has reported 666 residential sales in Alleghany, Ashe, Avery and Watauga counties.
The minimum list price was $49,900 and the minimum sold price was $45,000. The maximum list price was $4,400,000 and the maximum sold price was $4,400,000. The average list price was $570,398 and the average sales price was $551,928. The average Sales Price to List Price ratio was 97% and the average days on the market was 91.
Of these 666 units, 134 were condominiums, 29 were townhomes, and 503 were single family residences.
Sixty-six of these sales were in Alleghany county, one hundred forty-two were in Ashe county. one hundred fifty-two were in Avery county, and, last, but not least, three hundred and six were in Watauga county.
Two hundred and eighty-six (nearly 43%) of these sales were cash transactions. Three hundred and twenty-five (roughly 49%) were financed by conventional loans, with the remainder being financed by FHA, USDA, VA, and other miscellaneous financing.
Of the 306 sold in Watauga county 132 were located in Boone, 52 were located in Beech Mountain, 41 were located in Blowing Rock, 28 were located in Banner Elk,17 were in Vilas, 11 in Seven Devils, 8 were in Deep Gap, 6 were in Zionville, 5 were in Sugar Grove.
Of the 152 in Avery county, 44 were in Banner Elk, 42 were in Sugar Mountain, 23 were in Newland, 21 were Beech Mountain, 13 were in Linville, 3 were in Elk Park, 2 were in Collettsville, 1in Seven Devils, and 1 was in Blowing Rock.
Of the 142 in Ashe county 50 were in West Jefferson, 30 were in Jefferson, 22 were in Fleetwood, 10 were in Crumpler, 9 were in Todd, 6 were in Lansing, 5 were in Laurel Springs, 5 were in Warrensville, and 3 were in Creston.
The take away from all of these numbers is simple; with an average sale price of over $500,000 and 43% sales being cash, the market remains robust and bustling. With multiple thriving counties with multiple thriving communities within each county the High Country Real Estate market is healthy and happy, and hopefully will remain so many years into the future!
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