July 2023 MLS REPORT
During July High Country Realtors® have been busy. There were 187 closed sales on residential properties for a combined worth of just over $103 million in the four county High Country Association of Realtors® area of Alleghany, Ashe, Avery, and Watauga Counties. The median sales price was $425,000. Those properties’ median days on market were 50 days.
INVENTORY: The month of inventory looked like July for the past few years. A lower inventory than pre covid years but still holding its own. During July, the High Country MLS reported 588 active Residential properties in our four counties of Alleghany, Ashe, Avery, and Watauga Counties. 268 of these being new listings coming onto the market during July. Currently there is a 3.1 month supply of inventory of residential properties in the High Country MLS.
LAND: In July there were 1,665 active land listings in our four counties. This is a 22.5 months’ supply of inventory. There were 168 new land listings coming onto the market during July. Our market closed on seventy-four land sales during the month for a combined worth of just over $12 million. Land is staying on the market longer with 133 median days on market.
COMMERCIAL: Currently reported to the MLS there are forty-three active Commercial properties in our four counties. The High Country MLS reported four commercial sales in July worth $2.5 million.
Alleghany County: REALTORS® sold sixteen residential properties during July with a median sales price of $237,500. The median days on the market was 47 days. There are currently forty-six active residential listings in Alleghany County.
Ashe County: REALTORS® sold thirty-five residential properties during the month with a median sales price of $390,000. The median days on market was 49 days. Currently there are ninety-nine active residential listings in the county.
Avery County: REALTORS® sold forty-four residential properties with a median sales price of $392,500. The median days those properties were on the market was 68 days. There are currently 184 active residential properties in the county and a 4.2 month supply of inventory.
WATAUGA County: REALTORS® sold ninety-one residential properties during the month with the median days on market for those properties at 48 days. The median sales price was just over half a million at $515,000. There are currently 251 active residential properties on the market for Watauga County.
INTEREST RATES: According to a recent report from real estate news source Inman News, the small, 25-basis point adjustment unanimously approved by Fed policymakers in July brought the federal funds rate to a target of between 5.25 percent and 5.5 percent, the highest level since 2001. Members of the Federal Open Market Committee said they remain “highly attentive to inflation risks” and would be prepared to “adjust the stance of monetary policy as appropriate if risks emerge” to their goal of getting inflation back down to 2 percent.
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 - Info Hub. A public graphic is available on our website homepage at highcountryrealtors.org.