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Foreclosure Homes in Banner Elk, NC

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Banner Elk, NC Foreclosures

How much do homes sell for in Banner Elk, NC?
The average home price is currently $602,674.
In Banner Elk, NC, how many homes are available?
There are currently 4 active home listings available in Banner Elk.
What’s the average rental cost in Banner Elk, NC?
The average rental price in Banner Elk is $1,405.
What is the most expensive home in Banner Elk?
The most expensive home sold in Banner Elk had a price of $13,026,216.
What is currently the cheapest priced home in Banner Elk, NC?
The cheapest home for sale in Banner Elk is priced at $10,840.

Living in Banner Elk, NC

Banner Elk, NC, is a picturesque mountain town set among the scenic Blue Ridge Mountains, offering a unique blend of outdoor adventure and small-town charm. With its abundance of recreational activities like skiing, hiking, and biking, it is an ideal spot for nature lovers. The town is also known for its friendly community and charming local businesses, making Banner Elk a desirable place to live and visit.

Current Market Conditions in Banner Elk, NC

The real estate market in Banner Elk has been steadily rising due to the area's increasing popularity as a vacation destination and permanent residence for those seeking a quieter lifestyle. The unique appeal of Banner Elk's natural surroundings has attracted homebuyers, making inventory somewhat limited but in high demand.

In recent months, home prices have shown a consistent upward trend, reflecting the town's growth potential and desirability. New listings are becoming available more frequently as developers recognize the potential for investment in the area.

Home Value Estimator For Banner Elk, NC

There are currently 4,933 real estate properties in Banner Elk, NC, with a median automated valuation model (AVM) price of $460,900.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Banner Elk, NC, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Banner Elk, NC, is $602,674.00, with the most expensive house in Banner Elk, NC, topping out at $13,026,216.00 and the cheapest home in Banner Elk, NC, clocking in at $10,840.00. In other words, there’s something for every potential homebuyer or savvy investor in Banner Elk, NC!

Rent Prices In Banner Elk, NC

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Banner Elk, NC, is on a rollercoaster ride. The average rent price in Banner Elk, NC, is $1,405.00. Indeed, when looking to rent in Banner Elk, NC, you can expect to pay as little as $500.00 or as much as $2,960.00, with the average rent median estimated to be $1,310.00. The good news is that finding an affordable and desirable property to rent in Banner Elk, NC -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Banner Elk, NC Foreclosures

Market Trend for Banner Elk, NC

Total Listings Available: 4

Market Values:

Home Prices from $10,840 to $13,026,216

Average Sales Price: $602,674

Rental Values:

Rental from $500 to $2,960

Average Rent Value: $1,405 / month

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