North Carolina
Spruce Pine equestrian estate sells for record $4.1 million
An expansive equestrian estate in Spruce Pine has sold for $4.1 million, the highest residential sale on record in Mitchell County, according to Premier Sotheby’s International Realty.
Located on 68 acres west of downtown Spruce Pine, 1987 Rabbit Hop Road sold March 16, taking the equestrian compound off the market. The property had been listed for sale in mid-2025 for over $4.2 million, according to Zillow.
Developed as an equestrian compound, the estate features a main residence, a six-stall heated barn with a tack room and studio apartment, an indoor riding arena, an outdoor riding track and an RV and horse trailer storage area. The main residence features three bedrooms, 3,000 square-feet of living space and vaulted wood ceilings.
The property is located at elevations between 2,500 and 3,000 feet, according to Premier Sotheby’s International Realty. Properties of the size and scale of the estate are “extremely limited,” Premier Sotheby global real estate advisors Leslie Young and Cheryl Cenderelli said in a March 19 news release.
Western North Carolina’s luxury real estate market has remained relatively strong in recent years, as more luxury homes list across the region. In Buncombe County, not including the city of Asheville, 99 homes were listed above $1.5 million at the end 2025, according to Mosaic Community Lifestyle Realty’s 4th quarter of 2025 market report. It represented an estimated 11.5 months of inventory.
The most expensive home in Buncombe County is Deerhaven Gardens, which is currently listed for $15.9 million on Zillow, down from its $34 million listing in 2023. With a 5% down payment and a 30-year loan term at 6.22% fixed-rate mortgage, one would pay $104,881 a month to rent the property, according to Rocket Mortgage’s loan calculator.
Will Hofmann is the growth and development reporter for the Asheville Citizen Times, part of the USA Today Network. Got a tip? Email him at WHofmann@citizentimes.com or message will_hofmann.01 on Signal.