Luxury real estate conjures up images of penthouses in big cities or beachfront mansions—yet, three of this quarter’s top 10 luxury markets are in mountain communities.
The smaller, relatively affordable mountain markets with strong local economies include Pittsfield, MA; Asheville, NC; and Coeur d’Alene, ID, according to the latest Wall Street Journal/Realtor.com® Housing Market Ranking.
“These mountain towns with easy access to outdoor recreation offer a high quality of life away from the hustle and bustle of large cities and the coast,” says Realtor.com® senior economist Joel Berner in his analysis. “With interest rates hovering near 7% for most of 2024, a desire for affordability can be seen even in the luxury housing segment.”
Check out what this trio of mountain towns has to offer:
Pittsfield, MA
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This mountain town jumped from No. 25 last quarter to No. 5 in the latest rankings.
“One reason so many people are drawn to Pittsfield is because it’s located right in the heart of the Berkshires,” says Jennifer Glockner, director of cultural development for the city.
Pittsfield is home to Bousquet Mountain, a 200-acre ski area in the Berkshires that was the first in the country to offer night skiing.
“It’s a nature lover’s paradise,” Glockner says. “We also have two lakes, a state forest, and countless hiking trails.”
Entertainment options include live music, art shows, and museums.
Another perk is the city’s walkability, which is unusual for the area.
“If you’re in downtown Pittsfield, there are dozens of restaurants and theaters right within walking distance,” Glockner explains.
Even though it’s just 150 miles from New York City, Pittsfield feels worlds away from the crowds and chaos.
Pittsfield properties for sale
Affordable: This two-bedroom, 1.5-bathroom at 8 Broadway Street is priced at $205,900. The quaint 1,019-square-foot cottage features lake views and a platform deck in the backyard that’s perfect for entertaining.
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Aspirational: Nestled at the end of a private road at 202 Blythewood Drive, this stunning three-bedroom, 2.5-bathroom, 2,529-square-foot home on Onota Lake is on the market for $1,950,000.
Asheville, NC
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Asheville shot up in our rankings from No. 19 last quarter to No. 8 this quarter, and it’s no wonder why: The eclectic town nestled in the scenic Blue Ridge Mountains is home to dozens of sublime restaurants and craft breweries. The art scene is electric, and it’s free to enjoy the amazing murals created by local artists in Asheville’s South Slope cultural district.
Asheville’s magnificent mountain setting is perfect for biking, fishing, hiking, horseback riding, kayaking, and zip-lining.
Mark Fields, president of Mark Fields Real Estate in Asheville, says, “Asheville is like the Switzerland of the United States, with rolling hills, rivers, streams, and waterfalls.”
The luxury market has exploded here in the past few years, according to Fields—with many clients moving in for the climate.
“The weather is mild, and there’s no danger of hurricanes here, like in Florida,” he explains.
Asheville’s great live-music scene has earned it the nickname of “Nashville of the East,” he adds.
Asheville properties for sale
Affordable: This charming home at 13 Olivette Road has three bedrooms and two bathrooms and is listed for $275,000. It has 1,132 square feet of living space, and its great location has easy access to downtown Asheville and the trendy River Arts District.
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Aspirational: This $24,000,000 estate at 66 N. Deerhaven Lane includes a main residence and a guesthouse totaling 13,294 square feet, six bedrooms, a four-bed bunk room, six bathrooms, and seven half-baths.
It has a full gym, steam room, sauna, and spa room with massage, pedicure, and manicure stations. The 50-foot infinity pool adjoins a full outdoor kitchen and bar.
(Realtor.com)
Coeur d’Alene, ID
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Coeur d’Alene jumped 12 spots on our list, going from No. 21 to No. 9 this quarter.
“I have sold hundreds of millions of dollars here, with a primary focus on waterfront and luxury real estate. Up until five years ago, million-dollar-plus listings were few and far between. Now, almost 1 in 3 listings are priced over a million dollars in our county,” says Emily Beutler, a real estate agent for Century 21 Beutler & Associates.
People are drawn to the area’s natural beauty, and the plethora of outdoor activities includes white-water rafting, snowboarding, and kayaking. The city also offers a wide variety of world-class restaurants and trendy boutiques.
According to Beutler, Coeur d’Alene has become a haven for the rich and famous as more and more high-profile celebrities spend their summers here.
“This has given the area a huge social media presence, an increase in media attention, and even more popularity,” she says.
But no matter how much the majestic mountain city has grown, it has still managed to retain its small-town feel.
Coeur d’Alene properties for sale
Affordable: This quaint two-bedroom, one-bathroom bungalow at 1119 E Spokane Avenue listed for $299,000 is one of the most affordable houses right now in Coeur d’Alene. It’s 728 square feet of charm and was newly renovated last year.
(Realtor.com)
Aspirational: This five-bedroom, nine-bathroom estate at 5468 W Carnelian Drive is listed for $24,700,000 and offers breathtaking views of Coeur d’Alene Lake.
The luxury compound includes a detached guesthouse and a garden sauna/crafts room. It even has a pickleball court!
(Realtor.com)
