September 2023: What's Happening in the High Country NC Land Market?

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 September 2023 is an interesting month for property in the High Country.

For homes in Watauga and Ashe, the number sold is up.But less are currently under contract.For land, the number sold is the same as August, but the number under contract is up significantly.That's interesting to me because typically September is a slow month in the real estate market.The higher number of sales of homes reflects the higher amount of buyer interest in August, typical of August.The lower number of homes under contract reflects the lower amount of buyer interest in September, typical of September.But, the higher number of land parcels under contract is surprising.One fourth of the parcels sold in September are in the higher end subdivisions.

In Watauga the Odds of Selling are down.In Ashe, the Odds of Selling are up.In Watauga, on the average for 2023 to date, homes are selling at 52/month with 7.4 months of inventory available.In Ashe on the average for 2023 to date, homes are selling at 30 per month with 5.1 months of inventory available.

I like predictability in the market – helps me do my job better – so the slower September is a bit comforting.Still, this market confounds all realtors I talk with. Among the other words I've heard realtors use to describe this market – strange, goofy, mysterious, weird, makes no sense – I heard a new one last week – wackadoo.


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