Is Banner Elk, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Banner Elk was a Buyer's Market.
Housing Prices in Banner Elk, NC
How much do homes in Banner Elk, NC cost?
Median Sold Price
$532,500
$317/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Banner Elk was $532,500 in April 2024, down 33% from last month, and the median price per square foot was $317.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $315.3K | $251K | -20.4% |
3 Bedrooms | - | $800K | N/A |
4 Bedrooms | $1.2M | $867.5K | -32.0% |
5+ Bedrooms | - | - | N/A |
Summary: Banner Elk housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.4%, 3 bedroom homes did not change, 4 bedroom homes decreased by 32%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Banner Elk Township | $287.6K | $275K | -4.4% |
Banner Elk | $287.6K | $275K | -4.4% |
Banner Elk | $795.1K | $532.5K | -33.0% |
Housing Supply in Banner Elk, NC
How many homes are available in Banner Elk, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
16 | 19 | +18.8% |
Summary: The Banner Elk real estate market had 19 homes for sale in April 2024, a 18.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 3 | 4 | +33.3% |
4 Bedrooms | 6 | 5 | -16.7% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Banner Elk housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Banner Elk in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Banner Elk, NC
How long does it take to sell a home in Banner Elk, NC?
Average Sale Time
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
61 Days | 75 Days | +23.0% |
Summary: Homes in Banner Elk had an average of 75 days on market in Apr 2024, up by 23% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 4 homes were sold in Banner Elk; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.