Big Canoe Market Minute May 2025

Big Canoe Market Minute – May 2025

Understanding the Trends Behind the Numbers

As we step into the summer real estate season, it’s important to look beyond the headlines and dig into what the numbers really mean for buyers, sellers, and anyone watching the Big Canoe market.

📊 Median Sales Price: $596,500

Down 2% from May 2024 – But Still Up Over Time

While we’re seeing a slight dip compared to last May, zooming out tells a stronger story.
Since January 2022, the median sales price in Big Canoe has risen from $482,000 to nearly $600,000 — a 24.5% increase in just three years. That far exceeds the national average annual appreciation of 3–5%.

⏱ Days on Market: 39

Up 56% from Last May

Buyers are taking longer to decide — but the big picture still favors Big Canoe.
The median days on market has climbed from just 10 days in January 2022 to 39 today, a 290% increase. Yet homes here are still selling 23.5% faster than the national median of 51 days.

🏘 Inventory: 4.9 Months of Supply

Up 22% YoY, But Still Competitive

Big Canoe’s inventory levels have nearly quintupled since January 2022 (from 1.0 to 4.9 months).
Though slightly higher than the national median of 4.4 months, this is typical for second-home and retirement communities. Buyers here move at a more deliberate pace, which naturally stretches absorption timelines.

Active Market Snapshot – As of June 2025

• Homes & Condos for Sale: 94 (91 homes, 3 condos)

• Coming Soon: 1 home

• Under Contract: 20 (19 homes, 1 condo)

• June Contracts (so far): 3 homes

• May Closings: 16 (15 homes, 1 condo)

💰 How Buyers Are Paying

• Cash Sales: 8

• Conventional Loans: 7

• VA Loans: 1

• Seller-Paid Closing Costs: 6 transactions

  • Median Contribution: $4,800

🏡 Luxury Market Insight

• Homes Sold at $1M+ in May: 3

  • Median Price: $1.1M

  • One sold for $175,000 below asking; the other two went under contract quickly and sold at 100% of list - BIG VIEWS and PRICED RIGHT.

• $1M+ Homes Currently for Sale: 17

• Lowest Price Home Sold in May: $345,000

• Price Per Sq Ft Range in May:

  • Low: $173/sq ft (4,000 sq ft home)

  • High: $477/sq ft (Treetopper)

💡 Market Insights Explained

Why Use Median Over Average?

The median tells you what’s typical. The average gets skewed by extremes.
In Big Canoe’s case, just a few luxury sales can throw off the average—but the median helps you understand where the bulk of sales land. Same goes for days on market.

Use Median: To assess trends and typical buyer/seller behavior
Use Average: For full-range analysis or total volume stats

Why the Huge Spread in Price Per Square Foot?

Price per square foot is helpful—but context matters.

• Location: Mountain views, proximity to amenities, and flat lots drive up value

• Condition: Modern updates and high-end finishes sell for more

• Size: Smaller homes often have higher $/sq ft due to fixed costs

• Land Value: Usable land, views, or buildable space add premium

A $173/sq ft home and a $477/sq ft Treetopper may be in the same zip code, but they’re selling very different lifestyles.

What Seller-Paid Closing Costs Really Mean

Six recent sales in Big Canoe included seller-paid closing costs. This matters.

If a home closes at $600,000 with $15,000 in seller-paid costs, the effective sale is closer to $585,000. That difference impacts appraisals, comps, and future pricing decisions.

Bottom line: Headline price ≠ final value. Net terms matter.

Final Takeaway

The Big Canoe market continues to evolve. Prices have cooled slightly in the short term, but the long-term trend remains strong. Inventory and days on market are up — giving buyers more room to breathe — yet homes are still moving faster here than the national average.

Whether you're buying, selling, or just watching the market, understanding the why behind the numbers helps you make better decisions. If you'd like a custom analysis of your property or a specific price point, we’re here to help.