March 2024 MLS REPORT
The High-Country Multiple Listing Service reports131 local Residential Sales including both single family and condo/townhouse properties during March for a combined closing total of $65.6 million for the month. That combined local median sales price was $432,500, and the median days the properties stayed on the market was seventy-six days. Sales were up compared to last month as you would expect as we continue towards the busier selling season here in the High-Country Real Estate Market of Alleghany, Ashe, Avery, and Watauga Counties.
Nationally: According to a WASHINGTON (March 21, 2024) report: “Existing-home sales climbed in February, according to the National Association of REALTORS®. Among the four major U.S. regions, sales jumped in the West, South and Midwest, and were unchanged in the Northeast. Year-over-year, sales declined in all regions.”
INVENTORY: Alleghany, Ashe, Avery, and Watauga Counties
RESIDENTIAL: New listings coming onto the high-country market were up 35.3% compared to last month. There were 538 active listings during March with 257 of those being new listings coming onto the market during the month. This equates to a 4.1 month’s supply of inventory up 44.4% compared to this same time last year.
LAND: Listings are still robust at 1,413 in active listings and 163 of those being new on the market during March, with a month’s supply of inventory at 20.2 months. There were seventy closed sales during March for a combined closing price of $9.4 million for the month. The median days those properties are staying on the market is 156 days.
COMMERCIAL: Currently reported there are forty-six active properties. During March two properties closed in Watauga County for a combined total of $1.2 million.
Alleghany County: Realtors closed on five residential properties during the month. The median sales price for the county was $221,500. The combined closing amount for the five properties was $1.1 million for the month. These properties stayed on the market for around ninety days. There are fifty-two active residential properties in the county and thirty-two are new on the market in March.
Ashe County: Realtors closed thirty-four residential properties during the month. The combined closing amount was $14.7 million for the month. The median sales price was $399,625 for the county. The median days on the market was fifty-three. There are currently ninety-six active residential properties with fifty-eight of those being new during the month.
Avery County: Realtors closed on twenty-six residential properties during the month. The combined closing amount came in at $12.1 million and the median sales price for the county was $324,500. Those properties stayed on the market for around 68 days. Currently there are 148 active residential properties in the county with sixty-two new listings in March.
Watauga County: Realtors closed on sixty-six residential properties during March with a median sales price of $489,000. The combined closing price was $37.6 million. Those properties stayed on the market for around 96 days. Watauga County has 245 active residential properties with 105 being new during March.
Interest Rates: According to Freddie Mac, the 30-year fixed-rate mortgage Rates - Freddie Mac averaged 6.74% as of March 14. That is down from 6.88% the prior week but up from 6.60% one year ago.
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.