By Laura Fox, REALTOR, Blue Ridge Realty & Investments, LLC
The first half of the year is over and we are now on the downhill slide. So hard to believe it’s already July and summer is in full swing! Let’s take a moment and look at the statistics for Real Estate in the High Country for June 2024.
June saw 192 closed single family sales in the High Country Association of REALTORS Multiple Listing Service. Of those 192 sales, 170 were in Alleghany, Ashe, Avery and Watauga counties, the area we look at most closely when analyzing High Country Real Estate. Of those 170, 38 were condos or townhomes and 132 were single family detached.
List prices ranged from a minimum of $24,900 to a maximum of $3,950,000 with an average List Price of $635,644 and a median List Price of $492,000. Sold prices went from a minimum of $37,500 to a maximum of $3,950,000 with an average Sold Price of $613,908 and a median Sold Price of $475,731.
Minimum Bedroom and Bath count was 0/0 and the maximum was 10/9 with the average being 3/3 and median being 3/2. The maximum HLA was 9110 and average heated living area was 1887. With condos and townhomes in the mix, of course minimum acres was 0, but maximum was 52.46, average acreage was 2.45 and median was .55 acres.
The average Sales Price to List Price ratio was 98% and the median was 99%. The average days on market was 85 and the median days on market was 50.
Of note, 155 residential properties that went under contract in May. Of those 120 were Single Family and 35 were condos or townhomes. IT is unlikely that all the homes marked as Under Contract in May closed in June, yet more than the number closed, showing, once again, the healthy High Country real estate market.
An interesting comparison to what closed in June is what went Under Contract (also known as Pending) in June. As of this writing, there are 165 residential properties that went under contract in June. Of those 138 are Single Family and 27 are condos or townhomes.
List prices range from a minimum of $115,000 to a maximum of $2,995,000 with an average List Price of $601,344 and a median List Price of $479,000.
Minimum Bedroom and Bath count is 1/1 and the maximum is 5/6 with the average being 3/3 and median also being 3/3. The minimum recorded for heated living area is 0, maximum HLA is 5807 and average heated living area is 1892. With condos and townhomes in the mix, minimum acres is 0, but maximum is 101, average acreage is 2.07 and median is .57 acres.
When the time rolls around for July’s stats, we’ll revisit these Under Contract/Pending numbers and see how they compare to what actually closed…not to say that everything that went pending in June will close in July, but it will be a good indicator of the current market, just as May’s Under Contracts compared to June’s closings is.
In the meantime, enjoy the summer sun and have some glorious fun!
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