While much has been made of late about advances in artificial intelligence technologies and their potential to revolutionize further homeowners’ experiences both domestic and while away from home, the trends are slower to take hold in areas like western North Carolina.
Smart homes, smarter selves
Allison Ralph of Old Town Brokers in Andrews said while many people have “smart” appliances, the trend toward a fully integrated “smart” home is not a priority for many.
“The greatest need in our area is for internet capability and Starlink has definitely provided a faster and more reliable mode for that with their Voice Operated Internet Protocols, which also allows people to utilize both smart home technologies along with any appliances that require smartphone applications (apps) for use,” Ralph said.
“A broad range and reliable internet service is the most important thing for both new buyers and for locals to be able to use it for personal and employment purposes. To be able to be connected no matter the geography or weather is a primary concern for everyone these days. From school notifications to Duke Energy reports, it’s essential to our everyday lives.”
Those innovations have also grown exponentially in western North Carolina in the wake of Hurricane Helene which taught the region that reliance upon computer and electronic systems are only as good as the infrastructure.
With those changes brought the devastation and subsequent reconstruction across the area, Starlink has played an integral role in allowing both homeowners and local governmental entities better access in remote areas.
For Cherokee County, this means people who relocated during the COVID-19 pandemic and sought better internet availability for remote work are able to both upgrade and better utilize technology at home and for work.
“We’ve not seen quite the moves here we expected because of Helene, because of people relocating from the Asheville and far northern counties,” Ralph said, adding, “There’ve been some move-ins but mostly people are ready to rebuild and remain in that area.”
Ralph said the most popular uses of both VOIP and apps is home security using products like Blink or Ring and Google Nest, which allow homeowners and renters alike the capability to monitor their delivered packages and properties remotely, ensuring peace of mind and also “catching the odd encounter with wildlife” as Ralph recounts her own experience with “a bear, which got so close to the camera it looks like a painted portrait. So the cameras are also good for a bit of entertainment as well as checking to see what the FedEx man brought.”
With the move toward more AI integrated technologies, Ralph doesn’t envision the use of it as a substitute for the housing realm.
“We’ll always need to meet in person with buyers, to show the properties physically, especially after so many were bought sight unseen during 2020 and 2021. We’ll not be replaced any time soon. It’s that personal connection with buyers that cannot be replaced.”
General trends, specific demands
Housing trends for 2025 according to Zillow.com also allow that the housing market will perhaps “shake loose” more properties in the new year with both regard to anticipated changes to interest and mortgage rates.
Ralph echoes that.
“It’s been a bit of a slow market recently after 2024, but that’s to be expected in winter. But there is a pent-up need for people both to move and be able to purchase properties,” she said.
“Many are finding the 2% and 3% rates a sort of ‘golden handcuff’ with many rates as high as 5% now. People realize those lower rates aren’t coming back.”
Given 2024 was also an election year, the markets bear out a more conservative housing market with both industry and inflation playing parts in the hiring markets as well.
Given the several new enterprises entering Cherokee County, including both Core Scientific in Marble and expansion of Harrah’s Cherokee Valley River Casino & Hotel in Murphy, the employee housing market is also seeing a shift for improvement.
The former Mountain Vista Inn in downtown Murphy has been converted into affordable housing. Along with the construction of Valley River Apartments, Cherokee County has more apartment rental property than the past several decades.
However, that hasn’t translated into available housing in the Andrews area and that lack means both home values along with employment opportunities from potential investors could remain stagnant.
“We really do need more rental housing, whether it’s tiny homes or conventional apartment developments,” Ralph said.
“The demand is there, that pent-up need that must be met somehow. Places that provide both modern convenience and amenities but offer what most seek when they come here – the natural beauty and solace from big cities.”
New vs. old
Contractor Taylor Sargent said there’s been a “slight shift from new builds to renovations” in the last portion of 2024. Sargent added that, “Many people are integrating technologies into their remodels with thermostats, controlling their environments by phone as well as installing ‘smart receptacles’ which are like conventional electrical outlets but allow USB ports for charging devices.”
While many may prefer the ease of use of their phones, many also wish to unplug when they come to our area to both re-create and relocate. Our modern lives seem to dictate a dependency on these devices and their making our lives seamlessly integrated and involved in daily responsibilities and tasks, but our topography along with availability still present unique obstacles.
With concerns about the economy along with winter weather and again, post-Helene effects in the area, the rate of new construction not only in Cherokee County but most of the country has slowed, according to the National Association of Home Builders, which is the litmus for aggregating new build sentiment.
This shift portends that again, the same story of the last three years is that of a continuing and dwindling short supply of existing homes on the market with an ever-increasing demand for single and multi-family homes.
The multi-family aspect is especially pertinent as Ralph reminds that “the last of the Baby Boomers are turning 60 years old this year, which makes for the need of both retirement housing and properties along with the need for multiple-family dwellings which are always in short supply.”
Ralph also discussed those who are entering the era of “thinking about their retirement in the next three to four years. They’re looking at our area, planning to escape the bustle of city life or the rigors of working life to enjoy the outdoor experiences we offer here. They’re looking to make purchases, to visit occasionally and then to settle here within the next five or so years.
“They want to find their mountain oasis. Hopefully we’ll have that to offer in existing home because land parcels are also at a premium for new construction,” he added.
The NAHB anticipates these claims for 2025 along with those next five years based upon “fluctuating lumber prices” which contributes significantly to home pricing in new construction. The predictions are also based upon real data and economic forecasts.
To keep up with these changing perspectives in the home and real estate markets can seem daunting, but there are several resources available to citizens which explain every aspect in laymen’s terms.
Residents of Cherokee County can access countywide information on economic development, housing starts, tax appraisals and more at the county government’s website.
Details: Visit zillow.com/learn/housing-market-predictions, nahb.org/news-and-economics/housing-economics, oldtownbrokers.com and cherokeecounty-nc.gov.