Highlands real estate is at an all-time high. This mountain respite located in the Appalachian Mountains of North Carolina is a perfect investment whether you’re looking to set down roots or find a new vacation home. With plenty of activities in the surrounding area and a great climate year-round, you will feel right at home in Highlands, NC.
Still, while the market is good, there are some things you should know before you start looking for Highlands homes for sale. From the cost of living to schools, here is everything you need to know about the current Highlands real estate market.
Cost of housing
The median listing price of homes for sale in Highlands NC is around $1 million; however, houses in the area tend to sell for much lower. On average, Highlands homes close at around $685K, which translates to about $281 per square foot.
Considering the fact that the average cost for a home in the United States is around $375K, according to The Ascent, homes in Highlands, NC, are higher than the national average. Yet, since they most often do not actually hit the $1 million listing price, they are more affordable than other areas.
Type of market
Highlands real estate is currently experiencing a buyer’s market, which means there are more houses available than there are buyers looking for them. Because of this, houses in the area are currently selling below the asking price at around 6.27% below. Also, Highlands homes last around 72 days on the market.
Essentially, a buyer’s market favors home buyers rather than sellers. This typically means that sellers are usually a little more understanding when selling their houses. During this type of market, you as the buyer have room to negotiate the price and terms of the sale. Additionally, sellers may offer certain incentives or bonuses to draw in buyers.
Cost of living
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When considering relocating to a new area it is always good to consider multiple factors. One such factor is the price of living in that particular area. When compared to the rest of North Carolina, the cost of living in Highlands is significantly higher, according to Best Places. For instance, you can expect to pay more for things such as groceries, healthcare, and housing in Highlands.
This is of particular note considering the fact that much of North Carolina has a lower cost of living than the rest of the country. Therefore, while most of North Carolina is more affordable, Highlands is not one of those places.
Demographics
World Population Review reports that as of the 2020 census, Highlands holds a population of around 1,030 residents, which is growing at an annual rate of 1.58%. The entire population overall has increased by 10.63% since the last census back in 2010 that recorded a population of just 931 residents.
The average annual income per household is around $82,000. The median age is 59 years old and the area is made up of 56% females and 43% males. Many retirees call Highlands their home and most residents in this area tend to own property as opposed to renting it.
Lifestyle
Since Highlands, NC is a rural town in Macon County, residents feel a sense of community that is missing from larger cities. The area has a small town charm that resonates in not only the town itself but the individuals that live in it. Still, don’t let the area’s small population fool you. Highlands boasts a massive personality.
The “postcard” downtown area offers a multitude of antique stores, upscale boutiques, and art galleries. You’ll also find restaurants aplenty, with five of the city’s eateries earning the respected Wine Spectator Award of Excellence. For a more cultured experience, head to one of the city’s many theaters or museums, or take a class at The Center for Life Enrichment, which offers several options each week on various topics.
In terms of other activities, Highlands hosts a number of outdoor options that keep residents fit, healthy, and in good spirits. From hiking and camping to fishing and bird watching, active outdoor enthusiasts will not be disappointed. Golfers of all skills can also head to the Sky Valley Resort and Country club to play a few rounds on the public course there.
Education
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Many families looking for Highlands homes for sale worry about where they can send their kids to school. Fortunately, the area hosts eight public schools that are rated good or higher on Great Schools. Notable standouts include Highlands School (grades K-12), Macon Middle School (grades 7-8), and Smoky Mountain High (grades 9-12).
Additionally, several schools in Highlands have been awarded the College Success Award. This award is given to public high schools that exceed in preparing students for success in college.
Education systems are typically a reflection on how well a community holds up for families. Since Highlands has more than a few top-rated schools, the area is a perfect place to raise a family.
Find out more about the Highlands real estate market
Before touring Highlands homes for sale, it is a good idea to research and understand the area’s real estate market. While you can get a pretty good feel for the market in Highlands above, there are always other factors to consider. Some of these factors may be more important to one individual over another. Therefore, it is best to contact a Highlands real estate agent to learn even more about the area.
If you are ready to tour homes for sale in Highlands NC, you need an experienced agent on your side that knows the area well. An agent like Spencer Kirkpatrick can give you the “ins and outs” of the current market, as well as help you find any potential investment opportunities.
To find your dream Highlands home, contact Spencer Kirkpatrick today.
