Market Report Blowing Rock, Boone and Banner Elk North Carolina
This 20 mile stretch across the High Country of North Carolina is unique. Charming Blowing Rock is bustling best mountain town with amazing restaurants, excellent shopping and quick access to the Blue Ridge Parkway. Boone is tucked in between the three towns and to us, is one of the best college towns in the Southeast, home to 15,000 outdoor loving students at Appalachian State University. Banner Elk is ski country, home to Beech Mountain and Sugar Mountain drawing vacationers during the winter and summer months. The road expansion on Highway 321 has begun again and is now creating a mess between Blowing Rock and Banner Elk.
Homebuyer’s who bought Blowing Rock real estate seem to be either halfbacks from Florida, families escaping the big city of Charlotte for the weekend or folks from the northeast who plan to relocate insisting on living in a four season climate. The best place to buy a home really depends on what you want to be close too or not, keeping in the mind the region is busy vacation area.
According to the High Country Association of Realtors, the quantity of home sales is up 38%, yet home prices are down 13% and are holding steady at the home price levels of 2009. Why the surge in sales? You decide. Here’s the latest community news for these gated North Carolina mountain communities near Grandfather Mountain.
HEADWATERS AT BANNER ELK
The fall foliage was within days of its full peak painting a gorgeous backdrop, the trees in bright red, burnt orange and golden yellow. The beauty commanded a time out blessing me by dueling bird melodies as I was seated at Lake Park’s open air pavilion overlooking one of two community lakes. This low density gated North Carolina mountain community is well maintained and had 9 homes under construction reflecting a strong heartbeat within the community. New landscape accents and street lighting along with a new sandy beach and volleyball court were the latest additions inside the community’s gates. Headwaters already has one of the finest high elevation mountain clubhouses we’ve seen in Western North Carolina.
These smart Banner Elk real estate developers opened a charming Old General Store this year, at the base of the mountain on Banner Elk Highway, for the convenience of Headwaters property owners. The general store is open Monday-Friday 7am to 7pm, Sat 8am to 6:30pm and Sunday 10am-5pm. You’ll find every day items including homemade jellies, candles, soaps and doggie treats. Headwaters is in close proximity to Sugar and Beech Mountain and yet far enough away from the busy tourist congestion.
Headwaters reports 6 closed sales to date in 2012. Something you may not know. Buyer’s interested in finding mountain property adjacent to a national forest can find lots for sale at Headwaters backing up to Pisgah National Forest. Headwaters is also a ATV friendly (all terrain vehicle) with over 500 acres of exciting off road trails to explore. Ask about being our guest for the weekend, to experience the high quality lifestyle Headwaters at Banner Elk can offer you and your family.
HOUND EARS - BOONE
Once a ski resort in the early 1960’s, this gated North Carolina mountain community was bustling with activity during our visit. The club has reduced its initiation fee from $60k to $24k. This incentive expires on November 1. Hound Ears is a private golf club. The membership drive has been a success reporting a 5% increase in new members. The golf course was lush and in beautiful condition. Capital improvements in the past year include the renovated swimming pool and tennis areas, fresh new golf t-boxes and upgraded fitness equipment. The corridor roads were recently resurfaced and look great. POA dues have increased $65 a month. This Boone golf course is debt free and is financially sound with over $1 million dollars in cash reserves. Hound Ears reports 11 closed sales this year and 6 under contract. Buyer’s searching for Blowing Rock real estate in a friendly country club atmosphere will find Hound Ears one of the finest unpretentious neighborhoods in the High Country of North Carolina. If you are searching for a Boone golf course community, us to introduce to our trusted colleague in Boone.
ECHOTA - BOONE
Located on the main highway corridor, halfway between Blowing Rock and Banner Elk, real estate developer Mark Harrill is at it again building a new Boone debt free neighborhood named Chalakee at Echota. Minutes from Sugar and Beech Mountain, this Boone neighborhood is clearly a vacation home gated North Carolina mountain community designed for ‘lock and leave’ travelers who want maintenance free living. Built for the first time at Echota, Harrill’s large one bedroom condominium units start at $199k and include luxury standard features such as hardwood floors, stainless appliances, granite counter tops, 9 foot ceilings, a stone fireplace, and a built-in gas grill on the unit’s scenic private deck. Two and three bedroom units are also available. Knowing Baby Boomer’s are Echota’s most likely buyers, Chalakee’s three story buildings are equipped with an elevator. A croquet court, bocce ball court and putting green are amenities planned.
Completed amenities include two clubhouses, two swimming pools, two hot tubs and two fitness centers. At Echota on the Ridge, the outdoor swimming pool and hot tub area is surrounded by stunning mountain views and the sounds from a significant waterfall cascading just above the pool. Many of the community’s condominiums have stellar views of Grandfather Mountain. River Park at Echota is the community’s treasured park with 2,500 ft of frontage on the Watauga River. Walking trails, picnic tables, a grill and open air pavilion accent the park.
Echota is reporting the continued trend of 40 closed sales per year. Approximately 1/3 of the sales are referrals from existing property owners. We had the chance to meet Blowing Rock real estate developer Mark Harrill who is a hands on developer actively involved in the operations of this gated North Carolina mountain community. BB&T is offering condominium financing to qualified buyers. If you’d like an information package right away, please let us know.
CHETOLA RESORT - BLOWING ROCK
Known as a Blowing Rock vacation resort, Chetola Resort is within walking distance of charming downtown. Community amenities include a full service spa and the newly re-opened Manor House Restaurant, adjacent to the Bob Timberlake Inn. The scenic beauty of the community attracts wedding celebrations and popular Blowing Rock Festivals. Buyer’s who desire rental income to offset their second home expense should consider Chetola Resort. According to the MLS, there have been 6 closed sales in 2012 at Chetola, 5 condominiums and 1 fractional home. If Chetola interests you, ask us to introduce you to our trusted colleague at Chetola Resort.
SWEETGRASS - BLOWING ROCK
What makes this gated North Carolina lake community so special is it’s virtual flat and faces up at Grandfather Mountain. In addition, it’s in close proximity to Blowing Rock and the Blue Ridge Parkway. There were 3 homes under construction during our visit and there have been 3 closed lot sales in 2012 to date. The community’s gentle topography is ideal for those who enjoy easy walking trails and bike rides.
SweetGrass has a character of its own. Charming, intimate, and friendly. Popular social events include guided nature walks, fly fishing clinics, sky watching and paint out artist events. SweetGrass Lake borders the community’s clubhouse, fitness center and sandy beach. Just a stone’s throw from SweetGrass is Julian Price Memorial Park, a 3,900 acre park with picnic areas, nature walks and boat rentals on Price Lake. Buyer’s looking for a spacious meadow views along with breath taking views of Grandfather Mountain will find SweetGrass a unique Western North Carolina lake community. Ask us to send you the latest floor plans.
BLUE RIDGE MOUNTAIN CLUB - BLOWING ROCK
Perhaps one of the smartest moves by Reynolds, Ginn’s planned $30 million dollar golf course is now off the drawing board at this gated North Carolina mountain community, saving property owners the risk and expense of an underfunded golf club. It is a known fact that Baby Boomer’s interest in golf has declined over the past decade. Southeast LandCo Acquisition Fund (SELAF), a fund sponsored by Reynolds Capital Group, acquired Lubert-Adler’s remaining interests in Blue Ridge Mountain Club on September 4, 2012. SELAF now owns 100 percent of Blue Ridge Mountain Club, a debt-free private mountain community located in Blowing Rock, NC. SELAF and Lubert-Adler were joint owners of the community since 2008.
Property owners are supportive and very much involved in the community’s social clubs. Activities include supper clubs, camping trips and day excursions to watch the Appalachian State University’s football Mountaineers compete in Boone. Blue Ridge Mountain Club undoubtedly offers the best high elevation mountain views. Its location is special, being about a mile from an entrance to the Blue Ridge Parkway and less than five miles from downtown Blowing Rock.
Construction was booming as I drove through the community observing 11 homes under construction. The Watson Gap Phase 2 is the community’s newest cottage home collection with prices beginning at $399k. Two cottage homes are already under contract. Blue Ridge Mountain Club is reporting a total of 8 closed sales plus 7 pending contracts in 2012. Four of the sales are single family homes and 11 are homesites. Ask us about being our guest for the weekend at Blue Ridge Mountain Club, so you can see what's happening for yourself.
This is how we help our clients compare Blowing Rock real estate, by matching you up North Carolina mountain communities which fit your budget and lifestyle. We're happy to answer your questions. Write info@communityfinder.com or call us toll free at 866.384.1799.
