Since Hurricane Helene devastated parts of southern Appalachia in late September, the area has made incredible progress toward restoring a sense of normalcy and revitalizing local economies that depend heavily on tourism and visitors.
We caught up with local realtor Preston Mayfield who kindly provided an update. He explains that while some areas like Bryson City and Highlands sustained little damage, others like Black Mountain and Asheville and towns along rivers that flooded such as Marshall and Spruce Pine, have a much longer recovery ahead. "The same can be said about Biltmore Village and the River Arts District in Asheville. While it will take months, and in some places years to rebuild, Asheville and most of the surrounding towns are welcoming back visitors who come with patience and understanding of the current situation," says Preston, who relocated with his family from Atlanta in 2021 and has been exploring Western North Carolina's rivers and trails all his life.
While it is still too early to comprehend the impact of the storm on the WNC real estate market, Preston made some notes for us:
1) WNC is still an incredibly beautiful and desirable place to live. Although many parts of the Blue Ridge Parkway and other WNC attractions will be closed for repairs, there are plenty of other places to get amazing views and enjoy life in the mountains.
2) Housing inventory has taken a hit in a market that already had relatively low supply and high demand.
3) There is much to learn from markets that have survived similar disasters. For example, post-Katrina average home prices rose about 10% within 6 months and annual appreciation increased from 7.6% to 14.1%.
Find Preston at NCMountainRE.com
Ongoing needs to help keep people fed and warm in the most impacted areas can be supported through the following organizations: