Listing Office: Ivester Jackson Distinctive Properties
Banner Elk Housing Market Report February 2025•Avery County, North Carolina
Housing Prices in Banner Elk, NC
How much do homes in Banner Elk, NC cost?
Housing Market Conditions
Is Banner Elk, NC a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Banner Elk is a Buyer's Market
Difference Since February 2024
Since last year, Banner Elk has remained a Buyer's Market.
Banner Elk is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Median Sold Price
Based on all homes sold in the last 12 months
Homes in Banner Elk have sold for 20.6% less than they did a year ago.
Summary: The median home sold price in Banner Elk was $540,000 in February 2025, down 20.6% from last year, and the median price per square foot was $305.
Median Sold Price By Cities
City | Feb 2024 | Feb 2025 | Change YoY |
---|---|---|---|
Banner Elk | $390K | $416K | +6.7% |
Banner Elk Township | $380K | $351.2K | -7.6% |
Banner Elk | $680K | $540K | -20.6% |
Median Sold Price By Bedrooms
Beds | Feb 2024 | Feb 2025 | Change YoY |
---|---|---|---|
11 Bedroom | - | - | N/A |
22 Bedrooms | $462.4K | $325.1K | -29.7% |
33 Bedrooms | $700K | $707.5K | +1.1% |
44 Bedrooms | $1.0M | $867.5K | -14.6% |
55+ Bedrooms | - | $1.3M | N/A |
Summary: Banner Elk housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -29.7%. The home price for 3 bedroom homes increased by +1.1%. The home price for 4 bedroom homes decreased by -14.6%. The home price for 5 bedroom homes did not change.
Housing supply in Banner Elk, NC
How many homes are available in Banner Elk, NC?
Number of Homes For Sale
Last Month | 2 months ago | Change MoM |
---|---|---|
16Last MonthFeb 2025 | ||
172 months agoJan 2025 | -5.9 % Change MoMJan – Feb |
Summary: The Banner Elk real estate market had 16 homes for sale in Feb 2025, a 5.9 % decrease compared to Jan 2025.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
2Last MonthFeb 2025 | ||
42 months agoJan 2025 | -50.0 % Change MoMJan – Feb |
Homes For Sale By Bedroom Count
Beds | Jan 2025 | Feb 2025 | Change MoM |
---|---|---|---|
11 Bedroom | 0 | 0 | 0.0% |
22 Bedrooms | 6 | 6 | 0.0% |
33 Bedrooms | 6 | 6 | 0.0% |
44 Bedrooms | 4 | 3 | -25.0% |
55+ Bedrooms | 1 | 1 | 0.0% |
Summary: Banner Elk housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes decreased by -25.0%. The inventory for 5 bedroom homes remained the same.
Asking Price vs. Sold Price
How much do homes in Banner Elk, NC cost?
Over Asking Price0 Home
At Asking Price0 Home
Under Asking Price2 Homes
If you're buying a home in Banner Elk, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Banner Elk in February 2025, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.
Days on Market for Banner Elk, NC
How long does it take to sell a home in Banner Elk, NC?
Breakdown of Home Sale Times
Under 30 Days0 Home
30 – 90 Days1 Home
Over 90 Days1 Home
Avg time on Rocket Homes in Banner Elk has remained consistent over time.
Summary: During February 2025, 2 homes were sold in Banner Elk; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
179 DaysThis YearFeb 2025 | ||
3 Days1 year agoFeb 2024 | +5883.3 % Change YoYFeb 2024 – Feb 2025 |
Summary: Homes in Banner Elk had an average listing age of 179 days in Feb 2025, up by 5883.3% compared to the previous year.
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Newest Listings in Banner Elk, NC
What homes are available in Banner Elk, NC?
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MLS Disclaimers and Copyright
Based on information from Canopy MLS, Triad MLS Inc, and Tennessee Virginia Regional MLS for the period 03/01/2023 - 03/01/2025

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

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Copyright © 2025 MLS GRID.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/6/2025, 8:21:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/6/2025, 8:20:47 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Copyright© 2025 Tennessee Virginia Regional MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/6/2025, 8:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.