There are currently 4,373 real estate properties in Banner Elk, NC, with a median automated valuation model (AVM) price of $331,500.00. 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 $409,398.00, with the most expensive house in Banner Elk, NC, topping out at $5,769,500.00 and the cheapest home in Banner Elk, NC, clocking in at $35,600.00. In other words, there’s something for every potential homebuyer or savvy investor 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 $1,399.00. Indeed, when looking to rent in Banner Elk, NC, you can expect to pay as little as $500.00 or as much as $3,140.00, with the average rent median estimated to be $1,330.00. 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.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Banner Elk, NC area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Banner Elk, NC and much more. Save thousands at closing with home foreclosure listings in Banner Elk, NC — up to 75% off market value!
Banner Elk is located in Avery, North Carolina, with an estimated municipal population of 1,149 residents. All of the best foreclosed homes for sale in Banner Elk are located in the following zip code areas on Foreclosure.com: 28604. The estimated population per square kilometer (.62 miles) in Banner Elk is 231.
So, about how much do homes cost in Banner Elk? The most recent median value of resident-owned homes in Banner Elk is 297,625. An estimated 56.3 percent of households in Banner Elk own their homes, with an average family size of 2.33. The median household income in Banner Elk is 55,781, with24.6 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Banner Elk, the median commute time of resident workers (in minutes) is 13.7. And last, but certainly not least, are you looking for homes to rent in Banner Elk? If so, the average rent price paid by renters in Banner Elk is 813, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Banner Elk, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Banner Elk is 21.2, split between 35 percent male versus 65 female. The percentage of residents who report being married in Banner Elk is 18, with an average family size of 2.33.
The percentage of residents who report their race in Banner Elk is as follows:
|Black / African American||4.1%|
|American Indian / Alaskan Native||0.2%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Banner Elk? Or maybe you are searching for 55+ active adult communities in and/or near Banner Elk?
The percentage of residents who report their age in Banner Elk is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Banner Elk with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Banner Elk.
How do you know that living in -- or moving to -- Banner Elk is right where you need to be? Perhaps you grew up in Banner Elk or already live nearby; therefore, the decision to buy a home in Banner Elk is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Banner Elk for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Banner Elk:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Banner Elk.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Banner Elk can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Banner Elk, meanwhile, can field multiple offers from more qualified buyers.