Market is starting to turn? Boone, Banner Elk, Beech Mountain

[Keith Dowdy]

Hi all,

The worm is turning- maybe? As a real estate agent in the area of Boone/ Banner Elk/ Beech Mountain and many other towns in the area, I'm seeing listings staying on the market a little longer than before and each day I see a handful or more listings do price reductions. A couple months ago, that was unheard of. 

If you'd like to learn more about the market or would like to look for a second home/ vacation home/ STR, let me know. I can help. I have helped several STR seekers recently. One just closed and another is under contract. I've got one of my STRs on Beech Mountain on the market as a matter of fact!

I would love to help anyone who wants to explore the area for investment properties. Just let me know!

Keith Dowdy

[Ryan Rich]

Keith,

I definitely think the spring and summer vacation rental market has slowed considerably up at Beech Mountain.  
Our properties are slower than even pre pandemic. While the economy is one driving factor, my hypothesis is that people that put off larger summer trips during the pandemic are now taking those trips instead of spending time up at Beech. There are also more properties that are exclusively STR's which is driving up supply in the area. I think some of this will rebound especially as the temperature cranks higher. I would love to hear your thoughts.

Best,

Ryan