Real estate sales in the area continue to decline, due to a reduced residential inventory.

High Country Press reports the High Country Realtors Association says 294 homes sold in the High Country in August, down from the 372 homes sold last August.

While unit sales are down, the market is still rather strong on sales volume. The High Country MLS reports over $135 million in total sales for August. That’s over a 45% increase compared to two years ago (prior to the market inflation).

With residential inventory in short supply, some buyers’ turned to land listings. In Alleghany, Ashe, Avery, and Watauga there were 149 tracts of land that sold for a combined total of over $17.2 million in August. The tracts sold last month totaled 914 acres.

Freddie Mac reports 30-year Fixed Rate mortgages have increased slightly to 2.87% as of September 7, 2021.

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