OFF MARKET

Off Market Oct 2021 for $695K

$969,131

Est. refi paymentEst. refi $750/mo

•

1,972

sq ft

505 Banner Rd, Banner Elk, NC 28604

About this home

What a surprise when you enter this cottage overlooking the Historic Mill Pond. Located in town on a very private 2.183 acres, w/ plenty of room to build a 2nd cottage. Located w/ in walking distance to Lees McRae, town park, eateries and a short drive to Sugar or Beech Mnt. The cottage was remodeled in 2008 and in 2016-2020 there were additional updates, all w/ detailed craftsmanship. The main level has a separate foyer & half bath, nice size living room and large master suite w/ fireplace, private master bath, laundry & private deck. The kitchen, dining & sitting area are the heart of the home and is spacious w/ vaulted ceilings, fireplace and natural light The living room and large kitchen area both overlook the Mill Pond. This level entry home has beautiful hardwood floors throughout. Downstairs there is a large living area with butlers kitchen, second bedroom and full bath with an optional 2nd laundry area and private entrance. On the road level there is great storage for bikes, ski gear and yard tools. The Mill Pond is the heart of Banner Elk and flows into the Elk River. One of most unique property due to its location. Furnishings Negotiable Home on 1.49 Acre available MLS 232865

Single-familyProperty Type

1956Year Built

2.18 acresLot Size

$491Est. Price/Sq.Ft.

4 spacesParking

Listed by Susan Brown • Susan Brown Realty

Bought with Seth Herndon • Engel & Volkers Banner Elk

Redfin checked: 3 minutes ago

•Source:HCMLS #231609

Redfin Estimate

$969,131

$274K since sold in October 2021$51K since August

Recently sold homes
Estimate history
Homes for sale

This home's estimate is 67.8% higher than the average sale price ($578K) of 6 comparable homes.

SOLD JUL 20, 2026
$575,000
A
3 beds2 baths1,654 sq ft
17 Grey Fox Ridge Road Rd, Banner Elk, NC 28604
SOLD AUG 18, 2026
$819,000
B
3 beds2.5 baths1,749 sq ft
470 Banner Grande Ln, Banner Elk, NC 28604
SOLD JUL 17, 2026
$484,000
C
2 beds2 baths1,420 sq ft
340 Balsam Ln, Beech Mountain, NC 28604
SOLD MAR 20, 2026
$380,000
D
3 beds2.5 baths2,067 sq ft
165 Collier Ln, Banner Elk, NC 28604
SOLD JUN 22, 2026
$795,000
E
3 beds2.5 baths1,852 sq ft
559 Banner Grande Ln, Banner Elk, NC 28604
SOLD AUG 7, 2026
$412,500
F
3 beds2 baths1,664 sq ft
281 Old Turnpike Rd. East, Banner Elk, NC 28604

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Earn from this home

Refinance

Est. cash available

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Rent

$3,003/mo

Redfin rental estimate

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Market trends in 28604, NC

Last updated August 2026

Buyer's Market

Seller's Market

Buyer's market

Sale-to-List Price

96.0%

+0.1% MoM

Median sale price

$567K

$62K MoM

Avg. days on market

77d

5 days MoM

Recently sold homes

128

18 MoM

New listings for sale

NEW 30 MINS AGO
$894,000
3 beds3 baths2,346 sq ft
130 Briarwood Ln, Beech Mountain, NC 28604
NEW 4 HRS AGO
$189,900
2 beds2 baths843 sq ft
101 Mid Holiday Ln Unit E119, Beech Mountain, NC 28604
NEW 4 HRS AGO
$639,900
3 beds3 baths2,089 sq ft
267 Streamside Ln, Seven Devils, NC 28604
NEW 5 HRS AGO
$699,500
3 beds2.5 baths1,960 sq ft
473 Double Knob Rd, Banner Elk, NC 28604
NEW 8 HRS AGO
$259,000
2 beds2 baths988 sq ft
303 Sugar Top Dr Unit 3-2323, Sugar Mountain, NC 28604
NEW 29 HRS AGO
$515,000
2 beds2 baths1,266 sq ft
132 Rocky Top None, Sugar Mountain, NC 28604
NEW 33 HRS AGO
$214,900
2 beds2 baths1,000 sq ft
301 Pinnacle Inn Rd #2113, Beech Mountain, NC 28604
NEW 33 HRS AGO
$325,000
2 beds1.5 baths988 sq ft
303 Sugar Top Dr #2520, Sugar Mountain, NC 28604
NEW 1 DAY AGO
$179,000
1 bed1 bath573 sq ft
107 Beechwood Ln Unit C7, Beech Mountain, NC 28604
$515,000
2 beds2 baths1,266 sq ft
132 Rocky Top Unit 23C, Sugar Mountain, NC 28604
See all

Provided by Redfin

Sale history for 505 Banner Rd

Year

Property tax

Land + Additions

Assessment*

2025

$4,881

$112,100 + $455,500

$567,600

2024

$4,881

$112,100 + $455,500

$567,600

2023

$4,881 (+106.3%)

$112,100 + $455,500

$567,600

2022

$2,366 (+87.1%)

$112,100 + $485,300

$597,400

2021

$1,264 (−50.5%)

$82,500 + $147,400

$229,900

2020

$2,552

$82,500 + $147,400

$229,900

2019

$2,552 (+0.9%)

$82,500 + $147,400

$229,900

2018

$2,529 (−2.0%)

$82,500 + $147,400

$229,900

2017

$2,580 (+152.9%)

$82,500 + $145,800

$228,300

2016

$1,020 (−14.2%)

$82,500 + $145,800

$228,300

2014

$1,189

$82,500 + $145,800

$228,300

Tax history for 505 Banner Rd

Year

Property tax

Land + Additions

Assessment*

2025

$4,881

$112,100 + $455,500

$567,600

2024

$4,881

$112,100 + $455,500

$567,600

2023

$4,881 (+106.3%)

$112,100 + $455,500

$567,600

2022

$2,366 (+87.1%)

$112,100 + $485,300

$597,400

2021

$1,264 (−50.5%)

$82,500 + $147,400

$229,900

2020

$2,552

$82,500 + $147,400

$229,900

2019

$2,552 (+0.9%)

$82,500 + $147,400

$229,900

2018

$2,529 (−2.0%)

$82,500 + $147,400

$229,900

2017

$2,580 (+152.9%)

$82,500 + $145,800

$228,300

2016

$1,020 (−14.2%)

$82,500 + $145,800

$228,300

2014

$1,189

$82,500 + $145,800

$228,300

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Beds

Baths

2.5

Stories

Lot width

—

Lot depth

—

Lot size

95,091

Year renovated

2020

Sq. Ft.

1,972

Year built

1956

Style

Single Family Residential

County

Avery County

APN

18580528289700000

Parking Spaces

Basement

Yes

Accessible

HOA Dues

—

Garage

Features

Views, Green, Waterfront

Last updated by owner on Nov 3, 2025.

Property details

Parking

Parking/Garage Information
Has Garage
Parking Features: Gravel, Basement, Driveway, Garage, Private

Interior

Bathroom Information
# of Full Bathrooms: 2
# of Half Bathrooms: 1

Heating & Cooling
Has Cooling
Cooling: Central Air
Has Heating
Heating: Natural Gas, Forced Air, Fireplace(s), Radiant Floor

Interior Features
Interior Features: Vaulted Ceiling(s), High Speed Internet
Window Features: Window Treatments
Appliances: Dryer, Dishwasher, Electric Range, Electric Water Heater, Disposal, Microwave, Refrigerator, Washer
Has Fireplace
# of Fireplaces: 2
Fireplace Features: Gas

Room Information
Laundry Features: Main Level
Has Basement
Basement Details: Exterior Entry, Interior Entry

Exterior

Exterior Features
Exterior Features: Storage
Roof: Metal

Building Information
Above Grade Finished Area: 1,267
Below Grade Finished Area: 705
Levels: Two
# of Stories Total: 2
Construction Materials: Wood Siding, Stone, Frame

Property Features
On Waterfront
Waterfront Features: River Access, Pond
Has View

Property Information
Property Type: Residential
Property Sub Type: Single Family Residence
Raw Mls Property Sub Type: Single Family Residence

Lot Information
Road Surface Type: Paved
Road Responsibility: Public Maintained Road
Lot Size : 2.183
Lot Size Area: 2.183
Lot Size Units: Acres
Lot Size Acres: 2.183
Additional Parcels Description: 1858-06-28-5884
Zoning Description: R-2

Financial

Tax Information
Tax Annual Amount: $3,133.90

Utilities

Utility Information
Water Source: Public
Sewer: Public Sewer

Location

Schools Information
Elementary School: Banner Elk
High School: Avery County

Location Information
Subdivision Name: None

Community Information
Community Features: Fishing

Public facts

Beds: 2
Baths: 2.5
Sq. Ft.: 1,972
Stories: 1.0
Parking Spaces: 4
Basement: Yes
Accessible: No
Lot Size: 2.18 acres
Style: Single Family Residential
Year Built: 1956
Year Renovated: 2020
County: Avery County
APN: 18580528289700000
HOA Dues: —
Garage: No
Features: Views, Green, Waterfront

Home facts updated by owner on Nov 3, 2025

Other

Listing Information
List AOR: HighCountryAssociationOfRealtorsInc

Around this home

Schools

Banner Elk Elementary School

Public PreK-5 • Assigned • 1.0mi

8/10

Cranberry Middle School

Public 6-8 • Assigned • 5.2mi

5/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

1/10 Heat Factor

8 days above 85° expected this year, 25 days in 30 years

2/10 Wind Factor

Minor risk of severe winds over next 30 years

2/10 Air Factor

2 unhealthy days expected this year, 2 days in 30 years

Provided by First Street

Historical weather

Banner Elk, NC • 28604

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

In this area, properties receive around 8.4 hours in June and 4.9 hours in December, placing it below the U.S. average for solar exposure.

8.4 hrs

4.9 hrs

JuneDecember

Provided by Shadowmap

Estimated sale price

$921,000 – $1.12M

Sell confidently with a local market expert in Banner Elk. 3 minutes to get started.

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New listings for sale in 28604

NEW 30 MINS AGO

$894,000

3 beds3 baths2,346 sq ft

130 Briarwood Ln, Beech Mountain, NC 28604

NEW 4 HRS AGO

$189,900

2 beds2 baths843 sq ft

101 Mid Holiday Ln Unit E119, Beech Mountain, NC 28604

NEW 4 HRS AGO

$639,900

3 beds3 baths2,089 sq ft

267 Streamside Ln, Seven Devils, NC 28604

NEW 5 HRS AGO

$699,500

3 beds2.5 baths1,960 sq ft

473 Double Knob Rd, Banner Elk, NC 28604

NEW 8 HRS AGO

$259,000

2 beds2 baths988 sq ft

303 Sugar Top Dr Unit 3-2323, Sugar Mountain, NC 28604

NEW 29 HRS AGO

$515,000

2 beds2 baths1,266 sq ft

132 Rocky Top None, Sugar Mountain, NC 28604

NEW 33 HRS AGO

$214,900

2 beds2 baths1,000 sq ft

301 Pinnacle Inn Rd #2113, Beech Mountain, NC 28604

NEW 33 HRS AGO

$325,000

2 beds1.5 baths988 sq ft

303 Sugar Top Dr #2520, Sugar Mountain, NC 28604

NEW 1 DAY AGO

$179,000

1 bed1 bath573 sq ft

107 Beechwood Ln Unit C7, Beech Mountain, NC 28604

Home values near 505 Banner Rd

Data from public records.

Address	Redfin Estimate
132 Banner Rd SW Apartment 3, Banner Elk, NC 3 Beds \| 3 Baths \| 2655 Sq. Ft.	$628,153
132 Mill Pond Manor Dr Apartment 2, Banner Elk, NC 4 Beds \| 3 Baths \| 2639 Sq. Ft.	$880,075

Address	Redfin Estimate
145 Banner Rd SW Apartment 8, Banner Elk, NC 4 Beds \| 4 Baths \| 4092 Sq. Ft.	$1,082,246
144 High Lowe Ln, Banner Elk, NC 3 Beds \| 2 Baths \| 1196 Sq. Ft.	$375,628

Address	Redfin Estimate
132 Banner Rd SW Apartment 1, Banner Elk, NC 3 Beds \| 5 Baths \| 3749 Sq. Ft.	$950,886
179 Old Hotel Dr Apartment 8, Banner Elk, NC 3 Beds \| 2.5 Baths \| 1803 Sq. Ft.	$555,614

Property information provided by HCMLS when last listed in 2021. This data may not show owner updates. Learn more.

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About this home

Redfin Estimate

Earn from this home

Market trends in 28604, NC

Sale history for 505 Banner Rd

Tax history for 505 Banner Rd

Public record

Property details

Around this home

Schools

Lifestyle

Climate risks

Historical weather

Sun exposure

Nearby similar homes

New listings for sale in 28604

Home values near 505 Banner Rd

More real estate resources