END OF THE YEAR MARKET REPORT BILTMORE FOREST RAMBLE THE 2024
EXCEEDING EXPECTATIONS & DEFINING EXCELLENCE Walnut Cove Realty/Allen Tate/Leading RE/Luxury Portfolio International #1 #1 #1
The Ramble Biltmore Forest 2024 | MARKET PERFORMANCE REPORT
Strong buyer demand for the perennially popular Ramble community helps property values continue to rise. Property values rose appreciably with dollar volume up 24% to $64.9M and transactions up 19% to 43 properties sold. The increase in the number of larger lots sold at higher prices, particularly the release of long anticipated Tea House Drive lots, dramatically grew overall sales, while home values rose as well.
BOUTIQUE BROKERAGE FIRM IN LAND OF THE SKY
LUXURY FIRM IN THE CAROLINAS
BROKERAGE FIRM IN THE CAROLINAS
HOME SALES
Home sales were flat at 17 homes sold, while dollar volume for homes rose 8% to $47.1M.
ASSOCIATION OF REALTORS
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The average price for all homes sold rose over $200K to $2,773,131. The entry price point to live in the Ramble has risen. For the first time, no homes under $2M were sold, compared to 2023 when four homes under $2M were sold. The median price for homes rose 13% to $2,900,000 from $2,572,000 a year ago. Three new construction spec homes managed by Walnut Cove Realty helped drive overall $/SF up to $597/SF from $556/SF in 2023. All three spec homes were priced in the mid to higher $3M range, at an average of $755/SF. Resale homes averaged $562/SF with an average price of $2,588,802. It took longer to sell homes with average days on market for resale homes up to 114 days from 73 days in 2023. Spec homes are typically on the market longer as they are listed early in the construction process. Home prices ranged from a high of $4.5M for the largest home at 8,179 SF to a low of $2.025M, for the smallest 2,822 SF home sold.
LUXURY NETWORK OF BROKERS
FAMILY-OWNED FIRM IN THE US
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INTRODUCING THE WALNUT COVE REALTY APP
Giving you the tools to smartly navigate today’s real estate market in the palm of your hand.
The average size of homes sold was 4,642 SF with the median at 4,367 SF. Homes on average were sold at 95% of the list price with 74% cash transactions.
LOT SALES
LOT SALES
Lot sales increased 36% to a total of 26 lots, compared to 19 sold in 2023. Lot dollar volume rose 104% to $17.7M from $8.7M in 2023. The average price rose 50% to $682,442 primarily due to the release of the anticipated Tea House Drive lots. The median price of lots sold was $490,000. The highest priced lot sold was 807 Tea House Drive at $2.5M followed by 804 and 743 Tea House Drive selling for $1.8M and $1.6M respectively. On average lots sold in 127 days. The average size lot sold rose to 1.3 acres with the range from the smallest at 0.53 acres to the largest at 3.71 acres.
Scan the QR code or click here to download the Walnut Cove Realty app and connect to the latest information on real estate in your area.
“ Walnut Cove Realty is a self-starting machine . They do this with integrety, professionalism and transparency. They are problem solvers and honorable to deal with.”
At Walnut Cove Realty, we believe excellence is a mark of respect for our clients.
- JAY N.
HOMES SOLD TOP 10 SALES IN THE RAMBLE
REAL ESTATE TRANSACTIONS
Address
SF
$/SF
Price
45 Mirehouse Run 15 Presque Isle Way 418 Moraine Court 408 Moraine Court
8,179
$550
$4,500,000
5,636
$781
$4,400,000
DOLLAR VOLUME BY PROPERTY TYPE (MILLIONS)
5,652
$699
$3,950,000
4,367
$798
$3,485,000
308 Flowering Vine Court
4,416
$785
$3,465,000
62 Fairsted Drive 30 Hallett Court 85 Chauncey Circle 70 Brookline Drive 8 Chauncey Circle
5,208
$528
$2,750,000
4,991
$541
$2,700,000
4,124
$606
$2,500,000
4,719
$487
$2,300,000
3,721
$618
$2,300,000
AVERAGE OF ALL 2024 SALES
4,642
$846
$2,773,131
TOP 10 SALES IN THE RAMBLE LOTS SOLD
Address
Acres
Price
807 Tea House Drive 804 Tea House Drive 743 Tea House Drive 750 Tea House Drive 329 Cobbs Hill Court 23 Promenade Drive
3.22
$2,500,000
UNIT SALES BY YEAR
3.33
$1,800,000
1.74
$1,700,144
3.71
$975,000
Scan the QR Code or click here to view the
1.6
$775,000
1.76
$685,000
entire list of Homes and Lots Sold in the Ramble in 2024.
328 Flowering Vine Court
1.57
$610,000
320 Belle Isle Way 325 Cobbs Hill Court 328 Belle Isle Way
1.22
$538,350
1.23
$525,000
1.01
$520,000
AVERAGE OF ALL 2024 SALES
1.30
$682,442
EXPERIENCE THE WALNUT COVE REALTY ADVANTAGE We prioritize exceptional service and professionalism, making the buying and selling process feel effortless for our clients. With a focus on building lasting relationships, we’re proud to have a referral rate
AVERAGE PRICE BY PROPERTY TYPE (MILLIONS)
of over 50%, a testament to the trust and satisfaction of those we serve. The distinct advantages of listing with Walnut Cove Realty include:
Confidential listing consultation and property valuation based on our indepth market knowledge and experience. Staging and organizing assistance to maximize your home’s appeal and value. Listing options to maximize your privacy. Secure, proprietary lockboxes accessible only by Walnut Cove Realty to make sure your home is only accessed when your representative is present or you approve. All showings attended by WCR agents familiar with the Ramble community. Buyers vetted prior to showings. Prompt feedback and reporting. Assistance with repairs and contractors. Access to the largest network of luxury brokers in the world through our relationship with LPI and Leading RE.
If your property is currently listed, this is not a solicitation.
1874 Brevard Road, Suite 125, Arden, NC 28704 | (828)-684-5151 | WalnutCoveRealty.com
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