The 2021 MLS Market Report for the High Country Association of Realtors® saw agents end the year with sales volume records and numbers comparable to the historic totals we saw in 2020.
In December 2021, the High Country MLS recorded 249 homes sold for $116 million. There were 289 homes that sold for $124 million in December 2020. The median sale price rose 9% this year to $355,200 from $325,000 in December 2020, according to the High Country Association of Realtors .
High Country MLS professionals sold a total of 3,222 residential listings worth $1.43 billion at the end of 2021. Home sales volume totaled $1.18 billion the previous year . High Country MLS records for 2020 reported 3,269 residential properties sold in total. The number of High Country homes sold is down just 1.4% this year from 2020, but the value of sales is up 20%, a trend seen across the United States according to the Federal Housing Finance Agency. . The agency also said the price increase represented the largest annual home price increase in the history of the agency’s home price index, according to the High Country Association of Realtors.
A notable statistic recorded this year was the median sale price — the point at which half of all homes sold above or below — was $345,000 for 2021. It was $285,000 the previous year. This represents a 21% increase in the residential sale price compared to 2020.
High Country Realtor® and former MLS President, Shy Fecteau explains the year from a professional’s perspective.
“We thought it couldn’t get any tougher than 2020, but as we entered an even stronger seller’s market in 2021, High Country Realtors® had to work harder than ever to get their buyers to close” , said Fecteau. “This is evident in our sales volume and number of home sales, despite the continued decline in inventory month over month.”
In September 2021, buyers took 305 homes off the market, which was the highest in a month on record all year. The highest mark for home sales last year was recorded at 440 homes sold in September 2020. At the bottom of the markets, in February, the High Country Association of Realtors saw a meager 183 homes sold. The lowest number since April of the previous year, which saw just 130 homes sold.
INTEREST RATES: Lending giant Freddie Mac reported that the average 30-year fixed rate was 3.22% as of January 10, 2022. We’ve seen steady rates around 3.10% for the month of December 2021 Rates for FRM over 30 years were 2.65. percent a year ago.
INVENTORY: As of January 10, there were 289 homes for sale in the Four Counties area, compared to January 6 of last year when there were 496 homes for sale. With this comparison, there is a decrease of nearly 42% in inventory compared to the previous year.
LAND: Realtors® sold 1,649 lots for the year 2021, with total sales volume recorded at $195 million. Last year, 1,144 plots of land worth $110.3 million in 2020.
MLS data shows that for the month of December, Realtors® recorded 144 land sales with a total value of $18.79 million. Alleghany County® Realtors have sold 12 lots valued at $1.17 million. Ashe County realtors sold 37 lots worth $5.37 million. Avery County Realtors® has sold 18 lots valued at $2 million. Watauga County realtors sold 58 lots for a total of $8.54 million, according to the High Country Association of Realtors.
COMMERCIAL: This year we saw a total of 61 commercial properties sell for a value of $30 million. Last year’s MLS data showed just 30 business listings that sold for $13.47 million. That’s a 103% increase this year in commercial properties sold. We start the new year with 80 active commercial properties in MLS.
To close the year, 3 commercial properties were sold in December. Two were in Watauga County for a total of $709,000. There was one in Ashe County for $535,000.
WATAUGA COUNTY. REALTORS® sold 1,373 total homes in 2021, valued at $694 million. Professionals registered 1,426 homes worth $596 million in 2020. The median sale price increased from $340,000 in 2020 to $400,000 in 2021. There were 118 homes worth 67 .7 million sold in December.
ASHE COUNTY. Realtors® sold 563 homes worth $184 million at the end of the year. Last year, Realtors® recorded 541 homes that sold for $153 million in 2020. The median sale price was $290,000 this year, up from $265,000 the year before. As of December 2021, 46 homes worth $14.96 million have been sold.
AVERY COUNTY. Realtors® sold 691 homes with a total value of $350 million in 2021. Last year, there were 712 homes worth $285 million. The median sale price was $315,000, it was recorded at $255,000 for the year 2020. There were 42 homes sold for $17 million in December.
ALLEGHANY COUNTY. Realtors® sold 283 homes in total, valued at $77 million for the year. The median sale price was $242,172. There were 249 homes sold worth $41.12 million last year. In the last month of the year, Alleghany Realtors® sold 20 homes worth $5.4 million.