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
Since last month, Banner Elk has remained a Buyer's Market.
Housing Prices in Banner Elk, NC
How much do homes in Banner Elk, NC cost?
Median Sold Price
$795,150
$358/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Banner Elk was $795,150 in March 2024, up 137.4% from last month, and the median price per square foot was $358.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $335K | $315.3K | -5.9% |
3 Bedrooms | - | - | N/A |
4 Bedrooms | - | $1.2M | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Banner Elk housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.9%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Banner Elk | $335K | $795.1K | +137.4% |
Banner Elk | $301.4K | $287.6K | -4.6% |
Banner Elk Township | $311.4K | $287.6K | -7.6% |
Housing Supply in Banner Elk, NC
How many homes are available in Banner Elk, NC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 20 | +17.6% |
Summary: The Banner Elk real estate market had 20 homes for sale in March 2024, a 17.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 4 | 5 | +25.0% |
4 Bedrooms | 6 | 7 | +16.7% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Banner Elk housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Banner Elk in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% 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
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 Days | 61 Days | +1933.3% |
Summary: Homes in Banner Elk had an average of 61 days on market in Mar 2024, up by 1933.3% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 2 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.