Boone, NC

There is no doubt that the Boone, NC metropolitan statistical area (MSA) is in the midst of a housing market boom. The combination of low interest rates, a strong job market, and an influx of retirees and second-home buyers has resulted in increased demand for both new and existing homes. This has led to rising prices and a shortage of inventory, especially in the lower price ranges.

The average sales price for a home in the Boone MSA was $247,000 in 2017, up 9% from 2016. The median sales price was $215,000, also up 9% from the previous year. Homes are selling quickly – the average days on market was just 85 in 2017. And there is very little inventory available for sale, with just 1.4 months’ worth of listings at the current sales pace.

These trends are expected to continue in 2018 as more buyers enter the market and competition for available homes increases. If you are thinking of buying a home in Boone or the surrounding area this year, be prepared to act quickly and pay more than you may have anticipated just a few months ago.