BANNER ELK HOUSING MARKET INFORMATION With a population of 1,130, 355 total housing units (homes and apartments), and a median house value of $365,599, Banner Elk real estate prices are well above average cost compared to national prices. Single-family detached homes are the single most common housing type in Banner Elk, accounting for 46.95% of the town's housing units. Other types of housing that are prevalent in Banner Elk include duplexes, homes converted to apartments or other small apartment buildings ( 39.47%), large apartment complexes or high rise apartments ( 8.88%), and a few row houses and other attached homes ( 3.17%). Banner Elk is dominated by renter-occupied one, two, or no bedrooms apartments. 69.95% of Banner Elk's dwellings are rentals. Banner Elk homes and real estate are some of the newest in America. 47.34% of Banner Elk's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Banner Elk real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 25.63%), and between 1940-1969 ( 20.56%). There's also some housing in Banner Elk built before 1939 ( 6.47%). A decent proportion of the Banner Elk housing stock is seasonally occupied. That is, homes and condos in Banner Elk are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Banner Elk housing market speaks to its popularity as a vacation location of choice. BANNER ELK HOME APPRECIATION RATES In the last 10 years, Banner Elk has experienced some of the highest home appreciation rates of any community in the nation. Banner Elk real estate appreciated 139.46% over the last ten years, which is an average annual home appreciation rate of 9.12%, putting Banner Elk in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Banner Elk definitely has a track record of being one of the best long term real estate investments in America through the last ten years. 蘑菇视频's data show that during the latest twelve months, Banner Elk's appreciation rate, at 7.19%, has been at or slightly above the national average. In the latest quarter, Banner Elk's appreciation rate has been 2.03%, which annualizes to a rate of 8.36%. Relative to North Carolina, our data show that Banner Elk's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.