April 25, 2014  by Blowing Rock Real Estate
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2014 Sales Trends for Banner Elk, NC

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2014 sales trends for Banner Elk, NC are leaning toward a buyer’s market. Overall first quarter sales of $4,208,789 are slightly lower for this time last year which were $5,525,000. The average days on market for listings in Banner Elk, NC are 81 with an average selling price of $210,439, less than the average selling price of $263,095 for first quarter 2013.

Real Estate inventory is up, which drives selling prices down as more homes compete for a limited pool of buyer’s.  The hottest price points will be in the $120,000-$180,00 range with  most of those properties needing some type of updating.  Banner Elk, NC is a good market for investors looking for vacation rental properties, as tourism is year round due to the close proximity to Beech Mountain, Sugar Mountain, and Grandfather Mountain.  You can view homes in this price range here.

Banner Elk park townofbannerelk

Banner Elk is home to Lees McRae College and the famous Woolly Worm festival.  There is a larger inventory of homes in the $200,00-$400,000 price range, with spacious floor plans and larger lots.  Some have amazing long range views while others are close to prime skiing at Beech and Sugar. To see homes in this price point visit here.

Our professional team of agents are happy to provide you with a more detailed view of the market whether you are buying or selling.  Please contact us for more information.

 

 

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