HIGH COUNTRY — The High Country Real Estate Market of Alleghany, Ashe, Avery and Watauga counties saw sales and inventory alike inching up during May.
In May, there were 170 closed sales on single-family and condo/townhouse properties, according to a report from the High Country Association of Realtors. That combined closing total came in at $86.5 million for the month. The combined median sales price was $428,413, according to the report.
INVENTORY: Alleghany, Ashe, Avery, and Watauga Counties had a single-family condo/townhouse inventory of 739 active listings during the month, 351 of those being new coming onto the market in May. This is a 4.3-month supply of inventory, up 20.2% compared to last year.
LAND: There were 1,498 active land listings in the four counties during May. This is a 19.7-month supply of inventory for local land.
COMMERCIAL: Currently reported to the High Country Multiple Listing Service, there are 50 commercial properties listed. There were two commercial sales in Ashe County during May for $999,000. Watauga County had one commercial sale in May for $325,000.
Alleghany County: Realtors closed on 22 in total residential sales. That median sales price for the county is $324,500 for May. There are currently 70 active residential listings for the county. There were nine land closings coming in for May, with a median sales price of $54,000. There are currently 237 active land listings in Alleghany County.
Ashe County: Realtors closed on 38 residential sales for May and that median sales price came in at $442,959. There are 125 active residential properties in the county. There were 23 land sales for May, and that median sales price was $50,000. There are currently 454 active land listings in Ashe County.
Avery County: Realtors closed 35 residential properties during the month, with a median sales price of $288,000 for May. There are 224 active residential properties currently. Avery County saw 10 land sale closings in May, and that median sales price was $95,625. There are 289 active listings for land in Avery County.
Watauga County: Realtors closed 75 residential properties in May, and that median sales price, the largest in the four counties, at $486,000. There are 321 active residential properties in the county. There were 34 land sales, and the median sales price was $115,000. There are currently 518 active listings for land in Watauga County.
Nationally: According to a recent National Association of Realtors® report “Existing-Home Sales Edged Lower by 0.7% in May as Median Sales Price Reached Record High of $419,300.”
Mortgage News: Affiliate member, Jeff Reeves of Fairway Mortgage, has sent out the following to local REALTORS®, “Announced Tuesday, June 11, the U.S. Department of Veterans Affairs (VA) will temporarily allow buyers using a VA mortgage to pay for their agent’s commission! However, the buyer-broker fee cannot be rolled into the loan itself and must be paid with cash at closing. Combined with the option for no down payment. This is great news for your clients considering a VA loan.”
Disclaimer: Figures are based on information from High Country Multiple Listing Service. Data is for informational purposes only and may not be completely accurate due to MLS reporting processes. This data reflects a specific point in time and cannot be used in perpetuity due to the fluctuating nature of markets.
Report graphics generated from Domus Analytics pulled from the HCAR Web API feed. HCAR Realtor® members can access these detailed and customizable reports and graphics for professional use by logging into the HCAR dashboard. A public graphic is available on our website homepage at highcountryrealtors.org.
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