T
he High Country Real Estate Market, encompassing Alleghany, Ashe, Avery, and Watauga Counties, saw a 35.5% decline in residential single-family and condo/townhouse closing sales compared to January 2024. However, the combined total for closed sales reached $44.3 million, with eighty properties sold, surpassing the $10.9 million total from the previous year. The median sales price for all four counties was $390,950 in January 2025, a 20.5% decrease compared to the same period last year.

    Nationally, experts predict an upward trend in home sales, with existing-home sales expected to reach twenty million and new-home sales reaching 3.5 million over the next four years. The high mortgage rates of 7% and 8% are no longer a concern, as the Fed is anticipated to make further rate cuts in 2025.

    Inventory levels in the High Country region increased significantly, with 538 active listings for single-family and condo/townhouse properties, representing a 6.7 supply of inventory, up 67.8% from January 2024. Land sales reached $6.9 million, with a 29.4-month supply of local land inventory.

    Alleghany County saw five residential closings in January, with a median sales price of $490,000, a 63.9% increase compared to the previous year. Ashe County reported twenty-one residential closings, with a median sales price of $349,000, down 17.6% from last year. Avery County had sixteen residential closings, with a median sales price of $305,000, down 24.0% from January 2024. Watauga County recorded thirty-eight residential closings, with a median sales price of $470,000, down 31.9% from the previous year.

    Commercial listings in the High Country Multiple Listing Service totaled forty-five active properties in January, with one commercial sale closing at $610,000.