Market Flow Mid-May 2026
It’s Spring/early summer and this is the time of year both new home and new land listings typically come on the market in large numbers. Hopefully, that typical movement is one indication this unbalanced market is moving toward balance. Only time will tell.
Large numbers of price reductions, more in the home market than the land market, continue.
The middle of the home market – where the median and average sales values fall – continues to be most active in all movement categories.
For land, the upper end of the market shows the most activity in all categories.
It’s interesting to compare how the market differs by price range. This is the Watauga single family home market, January 1 through May 17, 2026.
**Price Reduced since coming on the market.
***This represents the difference between the original list price vs the reduced price the home was at when it went under contract and sold, for the homes reduced in price.
Some of these stats are not surprising. Homes are more likely to sell on the lower end of the market than the higher end. The per square foot value increases as the sales value increases [i.e., as homes increase in size, age, amenities].
From a realtor’s viewpoint, the current number of price reductions is high, at least in my 28 years of experience. It reflects that at this time more people have a strong desire to sell than the number having a strong desire to purchase. These numbers are somewhat a reflection that we’re in May. It’s typical for more homes to come on the market in Spring with an expectation that more people will be purchasing during the summer months, and that is usually the case [certainly was true in 2025]. However, the high number of price reductions has been ongoing since the beginning of 2025. Thus, it also reflects an unbalanced market. In part, it represents a cooling of the market since the Covid Craziness of the early 2020’s, when many more buyers desired to purchase than there were sellers desiring to sell. This phenomenon is true throughout the USA, not just the High Country.
The high number of price reductions introduces uncertainty in valuing a home at the time of listing. The comps at the time of listing show one value but numerous price reductions of homes – not possible to predict at the time of listing – can mean that homes are now in competition that were previously not valid comps by asking or sold value – larger, newer, higher amenities, a more desired location, or such.
It’s interesting that the percentage of price reductions reduces with market value – 50% of homes under $400K have been reduced. 40% in the $400-$600 range. 34% in the $600 to $1.3 mill range. 24% in the $1.3 mill+ range.