May 2025 NC High Country Real Estate Market Report
May brought positive momentum to the NC High Country real estate market, covering Alleghany, Ashe, Avery, and Watauga Counties. The market saw 138 residential closings, up 34.0% from April, and inventory also increased 26.6% month-over-month. This shift in both sales and available homes suggests buyer activity is increasing with warmer weather and the approach of summer.
Total residential sales volume for May 2025 reached $87.9 million, slightly up from $86.5 million in May 2024. The combined median home price for the region rose to $504,998, a 17.9% increase year-over-year. These trends may indicate the beginning of an upward shift in the market.
National Market Outlook: A Slow but Promising Climb
According to Lawrence Yun, Chief Economist for the National Association of REALTORS®, 2023 and 2024 marked the lowest home sales in 30 years. Factors like limited affordable housing and delayed interest rate cuts played a role. However, Yun remains optimistic:
“With more inventory entering the market and rate cuts expected in the fall, we anticipate a turnaround later in 2025.”
He forecasts a 6% increase in existing home sales for 2025 and 11% growth in 2026, with home prices expected to rise by 3% and 4%, respectively, over the next two years.
Inventory Snapshot: More Options for Buyers
In May 2025, the four High Country counties had 995 active residential listings and 421 new listings, bringing the inventory to a 7.2-month supply — up 58.6% from May 2024.
For land, there were 1,355 active listings, a 24.2-month supply, representing a 23.5% increase year-over-year. A total of 56 land parcels closed in May, with a combined volume of $7.5 million.
The commercial real estate market remains slower, with 6 active listings and just 1 commercial closing for $300,000 in May 2025.
County-Level Market Updates
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Alleghany County market update
Home sales in Alleghany rose to 13 in May, up 62.5% from April, with a median price of $380,000. The county had 90 active listings and 30 new homes added.
Land activity slowed, with only 3 closings, but the median price increased to $63,000. There are 243 active land listings and 12 new parcels listed.
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Ashe County housing market update
Ashe experienced strong growth, closing 35 homes — a 105.9% jump from April. The median home price rose to $383,000. Inventory included 164 active homes and 92 new listings.
On the land side, 18 parcels sold with a median price of $70,000. There were 351 active land listings and 40 new ones added in May.
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Avery County Housing market update
In Avery County, 26 homes closed in May at a median sales price of $590,000, a 104.9% increase from last year. The inventory included 319 active listings and 100 new additions.
Land sales reached 10 parcels, with prices up to a median of $60,000. There were 305 active land listings and 41 new parcels listed.
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Watauga County Housing market update
Watauga led in volume with 64 closed sales, and the median price reached $608,500, the highest among all counties — up 25.2% from May 2024. Inventory was strong with 422 active homes and 199 new listings, a 68.6% increase from April.
Land activity included 25 sales, though the median price dropped to $60,000, down 45.5% year-over-year. The county had 456 active land listings and 51 new listings.
Working With Local Real Estate Professional Lori Eastridge
With rising home values, more homes on the market, and steady land activity, the NC High Country real estate market is gaining strength. Whether you’re buying, selling, or investing in Alleghany, Ashe, Avery, or Watauga County, now is a great time to make informed moves with an experienced local expert.
If you’re considering a move in the High Country or just want to stay informed, reach out to me, Lori Eastridge, for expert guidance. Let’s navigate this market together.
