realestate

Hurricane Helene's Effect on High Country Real Estate Market in October

Helene's Impact on Sales: Quantifying the Effect on November 20, 2024

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    In October 2024, there were 214 closed single-family sales in the High Country Association of REALTORS Multiple Listing Service. Of these, 182 took place in Alleghany, Ashe, Avery, and Watauga counties. List prices ranged from $99,900 to $29,750,000, with an average of $780,845 and a median of $467,500. Sold prices went from $99,900 to $14,000,000, averaging $660,470 and mediating at $450,000.

    Minimum bedroom and bath counts were 0/1, while maximums reached 8/7, with averages of 3/3 and medians of 3/2. The average heated living area was 2000 square feet, with a minimum of 364 and a maximum of 8750. Condos and townhomes skewed the data, but average acreage was 1.86 acres.

    The sales-to-list price ratio averaged 95%, while mediating at 97%. Days on market averaged 98 days, with a median of 71. Comparing October 2024 to the same month in 2023 reveals a significant impact from Hurricane Helene. While list prices and sales prices increased this year, sale counts were down, and days on market were up slightly.

    The effects of Helene are evident, but not catastrophic. It's another challenge that will rebound with time. For now, let's focus on supporting each other and staying safe.

Image of hurricane damage in mountainous region with real estate signs.