By Bill Aceto, REALTOR, Blue Ridge Realty & Investments, LLC
2024 saw 2176 closed single family sales in the High Country Association of REALTORS Multiple Listing Service. Of those 2176 sales, 1873 were in Alleghany, Ashe, Avery and Watauga counties, the area we look at most closely when analyzing High Country Real Estate. Of those 2176, 442 were condos or townhomes and 1431 were single family detached.
List prices ranged from a minimum of $24,900 to a maximum of $29,750,000 with an average List Price of $664,306 and a median List Price of $489,900. Sold prices went from a minimum of $37,500 to a maximum of $15,850,000 with an average Sold Price of $630,210 and a median Sold Price of $469,000.
The maximum bedroom/bath count was 10/11 with the average being 3/3 and median at 3/2. The maximum HLA was 13,446 and average heated living area was 1898. With condos and townhomes in the mix, of course minimum acres was 0, but maximum was 391, average acreage was 2.3 and median was .56 acres.
The average Sales Price to List Price ratio was 96% and the median was 97%. The average days on market was 95 and the median days on market was 63.
As a comparison, 2023 saw 2054 closed residential sales in Alleghany, Ashe, Avery and Watauga counties. Of those, 1570 were single family detached and 484 were condos or townhomes. List prices ranged from a minimum of $49,900 to a maximum of $5,200,000 with an average List Price of $586,096 and a median List Price of $459,000. Sold prices went from a minimum of $43,800 to a maximum of $4,700,000 with an average Sold Price of $565,990 and a median Sold Price of $450,000.
The average Sales Price to List Price ratio was 97% and the median was 98%. The average days on market was 82 and the median days on market was 53.
The encouraging data points for single family sales for 2024 over 2023 were increased average and median prices for both list and sold prices, though there was a 1% decrease in both average and median Sales Price to List Price ratios, though that could really be accounted for by the increase in list prices. There was an increase in both average and median days on market, though neither was really surprising with the interest rates of 2024. Even though 2024 wasn’t all positive, it was mostly good news.
Looking beyond residential sales, High Country Association of REALTORS reported 801 land sales in Alleghany, Ashe, Avery & Watauga counties in 2024. Minimum List Price was $2500, maximum List Price was $3,500,000, the average List Price was $135,812 and the median was $70,000. Minimum Sales Price was reported as $0 (included as part of another sale), maximum Sale Price was $3,000,000, average Sale Price was $121,526 and the median Sale price was $64,250. Minimum acreage was .06, maximum acreage was 387.75, average acres was 6.11 and median was 1.43. The average Sales Price to List Price ratio was 89% and the median was 90%. Average Days on Market was 235 and median was 117.
Considering interest rates and economic pitfalls and Helene, Real Estate in the High Country in 2024 turned into a much better year than anyone could have predicted. This proves, as always, High Country Real Estate is a great investment!
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