In a recent conversation with Erik Lanier, of Lanier Management Tools in Boone, NC, I was impressed with the detail of statistical information he generates on Watauga County real estate transactions. He creates a twice-updated monthly report available by subscription for those seeking customized real estate reports from a fully interactive database.
This data is derived from public information available through the Watauga County Register of Deeds, excluding family or corporate transfers which show no exchange of money.
Here are some tidbits he shared with me regarding real estate trends in Watauga County. These figures are not adjusted for inflation:
In 2011, the amount of total real estate transfers in Watauga County, year to date (YTD), is $60 million, which is $5 million less than the same period ten years ago. In 2001, 559 real estate properties transferred in Watauga County YTD. In 2011, for the same time period, 273 properties transferred in Watauga County.
The rate of property transfers in 2005 was 300 properties per month YTD. In 2011, 65 properties have transferred per month YTD. 35 houses per month currently transfer in Watauga County YTD, as opposed to 130 houses per month during this same time period in 2005.
Watauga County Clerk of Court says foreclosures are down 28% YTD. However, Mr. Lanier's information indicates that the percentage of total sales, which are foreclosures, has greatly increased since 2008.
In 2008, 1% of all property transfers in Watauga County were foreclosures. In 2010, that number jumped to 10%. YTD, 2011, 18% of all real estate transactions are foreclosures.