Homes and land are generally hot as the proverbial pistol, but a swing around the southern mountains reveals pockets of opportunity.
This distinctive 4,000-square-foot home with views is in Lakemont, Georgia and at press time was listed at $725,000.
Whether you want a cabin or a castle, a farm or forest, you can find it across the seven states in the mountains of the South.
Here, we take a look at the state of real estate with sample snapshots of the markets of North Carolina (Asheville/Hendersonville); Virginia (Lexington); Tennessee (Greeneville); West Virginia (Lewisburg); Georgia (Clayton); Kentucky (Pikeville); and South Carolina (Spartanburg).
NORTH CAROLINA:
Asheville–Hendersonville
Asheville, North Carolina is famously known as one of the premier cities to visit—and live—in the mountains of the South.
This property is in Mills River, North Carolina, just south of Asheville.
“Asheville offers a vibrant city with a lot going on. It’s got everything,” says Chris Battista, a broker for Beverly-Hanks Realtors.
“Hendersonville has more of a small-town feel. But it still offers everything. It’s a small town feel but a pretty large city,” the broker says.
Battista sells homes ranging from mobile and modular homes to million-dollar castles.
“It’s a busy state of market,” says Battista, who’s been selling real estate since 2005.
Some clients prefer log homes, he says. “We’re in the mountains. Certainly, there are log cabins available.”
Prices range from $250,000 to $2.5 million. “It just depends on location. And a lot of it is how big it is. Does it have a mountain view? People pay premium for mountain views.”
Around this market, Battista says, you can expect to pay $250,000 to fetch an acre of land plus a two-bedroom, two-bath cabin with about 1,000 square feet —“a great second home. But they are hard to find.”
What’s even more in demand? Land.
“There’s certainly been a trend this year where people are looking for land to bring in several log cabins for glamping purposes. It’s for short-term rentals.”
Glamping, by the way, means “glamour camping”—no tents, no bugs, no sleeping on the ground. And what this broker is finding are people wanting to bring in modular homes that look like cabins.
“People are looking for 10 acres,” he says. “I’ve got a guy looking for 300 acres, but that is very hard to find.”
In Hendersonville, North Carolina, homes such as this one are “a little less expensive than in Asheville,” but a general rule is that as elevation goes up, so do prices.
Mountain land in the greater Asheville-Hendersonville area could be $10,000 an acre, Battista says.
Essentially, Battista says, “People are looking for non-restrictive land. They are looking for land possibly for the future, too. They are looking to buy now to hold for later, trying to look before the prices start to go up.”
Comparably speaking, with land or housing, Hendersonville is a little less expensive than Asheville, he says.
Consider elevation: The higher you go, sometimes, the higher the price.
“Once you go about 2,300 feet above sea level, land is not cheap,” he says.
Still, some real estate is almost never available.
“Asheville downtown is all built-up. In the downtown Asheville area, it’s going to be very, very expensive.”
One big selling point for in-town housing in downtown Hendersonville is convenience.
“That’s the big thing.” Battista says. “We have condos in Hendersonville. They’re just older condos. They’re not as expensive as the houses are.”
Expect to pay about $200,000 for a condo in Hendersonville—a good deal because, “You’re not going to find a house for $200,000 in Hendersonville in the downtown area.”
Waterfront properties in the area include Lake Lure.
“It’s a high-demand thing,” he says. “Lake Lure has had a very strong market this year. They sell quickly. If you want to get on Lake Lure, you’re pretty much going to be spending $1 million.”
Gated communities include Kenmore, a golfing community at Flat Rock with properties selling at $500,000 for a free-standing home of about 3,000 square feet, he says.
Another choice: The Ramble at Asheville, where sales go for about $1.3 million.
“There’s certainly an increased sense of security in a gated community because there’s some control over who has access,” he says. “And, for some people, that just makes them feel safer.”
VIRGINIA
Lexington–Rockbridge County
This 4-bedroom, 3-bath home in Lexington, Virginia, had an asking price of $339,000 as we went to press.
Lexington lies at the southern end of the Shenandoah Valley, about 50 miles north of the Roanoke Valley in Virginia—an area bordered by Rockbridge County, the home of the famous Natural Bridge.
For Lori Sadler, this market is an easy sell as an agent for Lexington Real Estate Connection.
“Lexington offers the small town feel, because it is a small town,” Sadler says. “We have the two universities here. And we have rural areas. We have mountains. We have rivers. It’s lovely that way.”
In this setting, she says, log homes are not in high demand nor are they widely available.
More popular are in-town houses at Lexington, which offers pedestrians a friendly atmosphere.
“There are several homes that have been purchased that are $500,000,” she says.
Yet you can buy a house within a half-mile walking distance of the downtown for $250,000 and up, Sadler says.
Some have been remodeled. Yet some buyers are simply looking for “good bones” and are willing to do renovations, Sadler says.
Many retirees coming to the region are graduates of Lexington’s universities, Sadler says. “The retirees are looking for one-floor living. And you’ve got folks that want a historic house.”
Usually, though, it’s cheaper to live in Rockbridge County, where taxes are less than downtown Lexington, Sadler says.
Raw mountain land in this area can be fetched for about $5,000 an acre, Sadler says.
The James River, South River and Maury River all offer waterfront property – a sought-after category in this region, Sadler says. “It’s just not available very often.”
WEST VIRGINIA
This 4-bedroom, 3 1/2-bath home in Greenbrier County, West Virginia, was listed at $725,000 at presstime.
Lewisburg–Greenbrier County
Jill Allman easily sells the charms of Lewisburg and Greenbrier County, West Virginia, as an owner of Greenbrier Real Estate Service. And, here, she meets buyers interested in the area because of everything that it offers—“from outdoor activities and just the quality of life.”
The “million-dollar views” are part of what had this home on West Virginia’s Greenbrier County being listed at $1.1 million at press time.
Lewisburg boasts privately owned, quaint restaurants and three live performing stages plus private schools and art galleries. All of that makes in-town living desirable, Allman says.
Small farms in this region sell for about $375,000 to $450,000, says Allman, who recently sold a seven-acre farm with a 3,500-square-foot home for $425,000.
In this area, Allman says, “Most people are looking for 50 acres or more.”
Mountain land across this region ranges from $1,000 to $15,000 an acre, Allman says.
Log homes, meanwhile, are rare and desirable, Allman says. “When people think of West Virginia, they think of log homes. But we don’t have enough log homes.”
If you are lucky enough to find a log home, expect to pay $250,000 and more, says Allman.
TENNESSEE
Greeneville
This home on 162 acres near Greeneville, Tennessee was listed at $799,000 as we went to press.
Greeneville sits about an hour or less from the hearts of Knoxville, the Great Smoky Mountains, Cherokee Lake and the Tri-Cities. For East Tennessee, it’s practically the apex of everywhere.
And that’s what’s making this city and surrounding Greene County a popular place, says Gail Landers, a principal broker with Century 21 Legacy.
Nolichucky River sites are popular for waterfront destinations—if you don’t want to seek land on or near the large Tennessee Valley Authority lakes near Greeneville, Landers says.
River property “is hard to come by,” she says. “So our agents sell more property down on the lakes.”
Still, property at places like Douglas Lake can be “expensive, especially to get the waterfront.”
Log homes are a natural fit to this area, where pioneer Davy Crockett was born at Limestone, Tennessee.
“There are different types of log homes. You have the ones that are rough or you have the ones on the higher end.”
These log homes sell from $100,000 to $800,000, says Landers.
In-town properties can range from homes built in the 1800s to modern mansions, according to Landers.
Historic homes at Greeneville or nearby Jonesborough sell for $300,000 to $600,000, says Landers.
“Not everyone understands that when they buy an antique home, you can’t look at it the same way as when you build. It’s going to have its own quirks. But it’s going to also have its own charm. It’s more simplistic living.”
Out of town, mountain land may go for as low as $1,000 an acre, says Landers.
Out in the country, meanwhile what Landers calls “a gentleman’s farm” with 10 acres or less are quite popular and can be found for about $500,000 with a 2,500 square-foot home, but you have to call fast, Landers says.
“When they come up, they’re gone.”
SOUTH CAROLINA
Spartanburg
Spartanburg, South Carolina, lies on the outskirts of the mountains with an ever-growing food scene plus a popular downtown district.
“We’ve got people coming in droves,” says Joseph Owings, a realtor for Palmetto Real Estate Group.
Lake Blalock and Lake Bowen are two waterfront destinations only a few miles from Spartanburg, where second-home getaways can be found for as low as $200,000, says Owings.
Log cabins in this area start at $200,000 but are “few and far between,” Owings says. “It’s less than 5 percent of the market. Cabins are not a big demand.”
People do want in-town homes. “But you’re probably lucky to find something decent for $150,000, while new construction of 1,200-square-foot houses go for about $220,000, he says.
The most sought-after properties in Spartanburg tend to be historic homes at sites like Converse Heights, according to Owings. “The houses in that neighborhood sell for $400,000 and up.”
In the surrounding mountains, land sells for about $10,000 an acre.
But what are proving much more popular are small farms, starting at $350,000, just a few miles from the city, says Owings.
These properties “sit on the market about 24 hours and have multiple offers,” says Owings. “Any rural property is what we sell the most of and that’s what people are still after anyway—whether it’s two acres or 20 acres.”
GEORGIA
Clayton-Rabun County
Foodies flock to Clayton, Georgia, while outdoor types roam surrounding Rabun County. It’s an area of wild rivers and lovely lakes.
On the water, you can choose between the laid-back Lake Rabun, with properties starting at nearly $1 million and Lake Burton—with castle-style homes selling in the multi-millions, says Kevin Croom, a realtor with Poss Realty in Rabun County.
Log homes sell well, Croom, says. “They are very attractive right now and always have been,” Croom says.
Typically, near Clayton, a log home with 2,000 square feet sells for about $330,000, says Croom.
“It’s what people would love to have as a second home just because of their charm. And people want a cabin, whether it’s a log cabin or not—with either a mountain view or a stream.”
Across Rabun County, Croom says, “There are very few homes around $250,000 and under.”
Yet many buyers, these days, want to own a second home in these Georgia Mountains, stay a few weeks a year and rent it out the rest of the time, he says.
“Historic homes are seldom seen on the market,” he says. “There are very few of them.”
Gated communities like Sky Valley are also popular buys with homes starting at $300,000, says Croom.
“At Sky Valley, you dance across the state line into North Carolina for a very short spur and then you’re right back in Georgia. It used to be a ski resort, and now it’s a golf-tennis community.”
Rural getaway: Mountain land starts at about $7,000 an acre and up, Croom says.
“People who want to come up and have three to five acres and raise a few chickens,” Croom says. “And there’s that group of people who want no restrictions. And it makes it tough, because the bulk of Rabun County is forest service.
KENTUCKY
Pikeville-Pike County
This 4-bedroom, 2 1/2-bath home in Pike County, Kentucky, has 2,626 square feet of space, and had a press-time listing of $329,000.
You don’t need a lot of cash—maybe just $300 an acre—to grab some mountain land in Pike County, Kentucky.
Want privacy? Well, you’ll have that – being about two hours outside of Pike-ville, a university town and medical center in East Kentucky.
“It’s so rural that it’s kind of mind-blowing,” says Jennifer Brown Day, who sells real estate for Red, Brown and Williams at Pikeville.
“People are calling from cities,” Day says. “They want to live off their land.”
Typical request: 50 acres.
“A lot of them throw out 50 acres. If you get 50 acres here, you’re going to be lucky to have an acre to do anything with. There’s a lot of rock. It’s not the most usable land.”
Perhaps conversely, in-town property in Pikeville is most popular—if it’s within walking distance of medical and educational institutions, Day says.
Downtown dwellings range from $150,000 to $350,000, Day says. “And we do have some historical areas. But those rarely come up on the market.”
Most of the area’s gated communities are located on top of mountains and offer privacy plus long-range views with home prices that start at $350,000, Day says.
Cabins and timber frame homes are hard to find but desirable, Day says.
And what about properties with water? Well, that may not actually be as desirable in this part of the Bluegrass State. “It’s not necessarily a bonus because that means you’re into a flood zone.”
The story above first appeared in our March / April 2022 issue. For more like it subscribe today or log in with your active BRC+ Membership. Thank you for your support!