October 2023 MLS REPORT
NAR just issued its Buyer and Seller Generational Trends Report for 2023. The survey notes, “that dependence on real estate specialists remains significant. Although all respondents used the internet in their search for a house, the vast majority (89%) of buyers and sellers indicated they hired a real estate professional. Sellers evaluated the agent’s reputation, whether the agent was “honest and trustworthy,” and familiarity with the neighborhood as more significant than the “agent’s commission” only 5% of the time.
There are a lot of people looking to buy real estate in the High Country in the month of October because of the gorgeous fall foliage. High Country Realtors® had a busy month in October, with 193 residential sales closing for a total of just over $111 million. Properties typically stay on the market for 56 days and sell for a median of $504,000.
There were 594 residential properties on the market in the High Country during the month of October, representing a 3.1-month supply, with 248 of those homes being brand new to the market. There is an abundance of property for sale in the High Country; there were 164 new listings for land in October and 1,626 total listings; this amounts to a supply of land on the market of 19.1 months.
85 land transactions totaling $10.6 million were finalized during the month. The median sales price for land was $59,500, and its median days on the market was 137.
Two commercial sales totaling $1.7 million were reported to the High-Country MLS in the month of October. There are currently 44 High Country commercial properties listed on our MLS.
Seventeen single-family homes were sold by Realtors® in Alleghany County for a total of $6.3 million. The median sales price was $355,000 with 48 median days on market. The county’s current supply of available single-family homes, 53, is enough to last 3.1 months.
Thirty-three residential properties were sold by Realtors® in Ashe County for a total of $16.8 million. The median number of days a home was on the market was 61, and the median sales price was $450,000. A 3.4-month supply may be expected to be on the market from the current 113 residential units available.
There were 36 residential property sales closed by Realtors® in Avery County, for a total of slightly over $21 million. Median days on market were 62, and the median transaction price was $526,500. A total of 169 residential units were available, representing a supply of 4.7 months.
In Watauga County, real estate agents closed on 107 homes worth a total of $66,8 million. The median sales price was $539,000 with 45 median days on market. There were 266 houses and condos available, which is equivalent to a supply of 2.5 months.
High Country Multiple Listing Service data was used for the aforementioned disclaimer. Due to inaccuracies inherent in MLS reporting, please use this data at your own risk. Due to the ever-changing character of markets, this information is only useful for a limited amount of time.
