October 2023 MLS REPORT
The National Association of REALTORS® recently released its 2023 Profile of Home Buyers and Sellers. The report states, “that reliance on real estate professionals remains strong. Although 100% of respondents said they used the internet in the home search process, a vast majority—89% of both buyers and sellers—said they worked with a real estate professional on their sale or purchase. Only 5% of sellers cited the “agent’s commission” as an important factor in choosing their agent: Reputation of the agent, whether the agent was “honest and trustworthy,” and knowledge of the neighborhood ranked as the most important factors”.
The High-Country Real Estate Market is always bustling in October with many visitors in the area to see the beauty in our fall colors. In October High Country Realtors® were busy as well bringing 193 Residential sales to the closing table with a combined total of just over $111 million in those sales. The median sales price comes in at $504,000 dollars with the properties median days on the market coming in at 56 days.
INVENTORY: During October in the High Country of Alleghany, Ashe, Avery, and Watauga Counties, there was a 3.1 month’ supply of inventory equated to 594 in active inventory of residential properties with 248 of those being new on the market during October. The High Country has no shortage of land for sale with 164 new land listings in October and a total of 1,626 in active inventory, which equates to a 19.1 month’ supply of inventory for land!
LAND: During the month there were 85 closed land sales for a combined total of $10.6 million. The median sales price was $59,500 and the median days land is staying on the market comes in at 137 days.
COMMERCIAL: Two commercial sales were recorded to the High-Country MLS during October totaling $1.7 million in those sales. Currently active in our MLS are 44 Commercial properties for our High Country Area.
Alleghany County: Realtors® closed on seventeen residential properties totaling $6.3 million in sales. The median sales price was $355,000 with 48 median days on market. There are currently 53 in active residential inventory for the county which is a 3.1 month’ supply.
Ashe County: Realtors® closed on thirty-three residential properties totaling $16.8 million in sales. The median sales price was $450,000 with 61 as the median days on market. There are 113 in active residential inventory equating to a 3.4 month’ supply.
Avery County: Realtors® closed on thirty-six residential properties totaling just over $21 million in sales. The median sales price was $526,500 with 62 as the median days on market. There were 169 in active residential inventory equating to a 4.7 month’ supply.
Watauga County: Realtors® closed on 107 residential properties totaling $66.8 million in sales. The median sales price was $539,000 with 45 median days on market. There were 266 in active residential inventory equating to a 2.5 month’ supply.
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.