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Graph courtesy of High Country Association of Realtors



Originally published: 2013-07-29 10:04:33
Last modified: 2013-07-29 10:06:01

Real estate sales strong in June

by Staff Reports

Local real estate sales in June were the highest since August 2012, according to the High Country Association of Realtors.


The latest release from the association states that 126 homes worth $35.16 million sold in June, according to the High Country Multiple Listing Service, which tracks realtor-assisted sales in Ashe, Avery and Watauga counties.


"That's the best month of sales since August of last year, when 142 homes worth $34.13 million sold," the association said. "It's also the first time monthly sales surpassed $35 million since October 2008, when 118 homes sold for $35.38 million."


The median sold price for the month was $193,750, the highest since February.


"With interest rates slowly rising our realtor members are seeing an increase in buyers hoping to get into a High Country home now while rates are still low," said Laurie Phillips, executive officer of High Country Association of Realtors, in the statement.


Through the first six months of the year, 555 homes were sold worth $137.4 million. That's the best start to a year since 2008, when 614 homes sold for $186.5 million. It's also just ahead of last year's pace, when 551 homes sold for $137.01 million.


Buyers' market conditions continue, the association said, which is reflected in a six-month median sold price of $189,000. That's a 5 percent decline from last year ($199,900), and the lowest median sold price in that span in at least seven years.


Nationally, mortgage rates have slowly started to increase, but still remain well below historic levels. Many analysts expect increased activity in the home market as buyers rush to complete sales prior to another change in the rate.


According to the Federal Home Loan Mortgage Corp., the average rate nationwide for a 30-year mortgage recently jumped to 4.46 percent from 3.93 percent - the biggest one-week increase since 1987 and the highest rate since July 2011. The rate has since decreased slightly, to 4.29 percent as of July 5.

 


Coldwell Banker Blair & Associates third in national listings contest


Blair & Associates, the Boone franchise of real estate organization Coldwell Banker, recently placed third in a national Coldwell Banker contest encouraging its affiliates to generate new listings.


Blair & Associates placed third in the nation among similar-sized offices, the franchise announced. The office has provided real estate services in Boone for 22 years.