& FORECAST
Highlands-Cashiers Plateau | Q3 2025
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Q3 Market Report & Forecast | October 2025
MARKET REPORT
The Highlands-Cashiers Plateau’s luxury market delivered mixed results in the third, with steady activity in the $1M–$1.99M range and standout performance in the ultra-luxury segment of Cashiers and Lake Toxaway. Elevated inventory is giving buyers more choice and leverage, while well-priced, well-presented homes remain competitive.
COMMUNITY UPDATES
Highlands Cashiers
Lake Toxaway
FORECAST
As 2025 draws to a close, the HighlandsCashiers Plateau’s luxury market is showing resilience and renewed opportunity. While third quarter closings softened in some areas, strong pending sales and active buyer interest point to a healthy fourth quarter ahead.
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Current Trends
The luxury market across the Highlands-Cashiers Plateau posted mixed results in the third quarter of 2025, with solid activity in the $1M–$1.99M range and some bright spots in the ultra-luxury tier, particularly in Cashiers and Lake Toxaway. While several submarkets saw a year-over-year drop in $2M+ sales volume, pending activity and buyer engagement indicate that interest remains strong heading into the final quarter of the year.
Across the board, inventory levels are elevated, offering buyers greater selection and negotiating power. Meanwhile, motivated sellers are adjusting to a market that rewards proper pricing and high presentation value. Despite pockets of slowdown, lifestyle demand remains a key driver, with the Plateau continuing to attract discerning buyers from the Southeast and beyond.
HIGHLANDS
Highlands saw a meaningful uptick in mid-market activity, with 19 sales in the $600K–$999K range this quarter, up from 14 in the third quarter of 2024. However, luxury and ultra-luxury performance softened. The $1M–$1.99M segment posted 23 closings, down slightly from 25 a year ago in the same period, while the ultra-luxury tier saw a sharper drop with just 12 sales compared to 29 in the third quarter of 2024.
Despite the decline in closings at the top of the market, pending activity remains promising with 15 homes under contract in the $1M–$1.99M range and 22 in the $2M+ tier. This pipeline suggests that a rebound could take shape in the fourth quarter, particularly as the fall season draws in buyers seeking legacy properties and seasonal homes.
HIGHLANDS
CASHIERS
Cashiers posted one of the more balanced performances on the Plateau. The mid-market saw a jump from seven to 10 sales yearover-year, while the $1M–$1.99M tier dipped slightly to 12 closings from 14. Notably, the ultra-luxury segment saw strong momentum with 13 closings, up from eight in the third quarter of 2024. Inventory remains healthy, with 50 properties currently available over $2M and another 10 under contract heading into the fourth quarter.
Cashiers continues to benefit from a strong draw among regional buyers, particularly those looking for long-term lifestyle investments. Well-positioned properties in private communities and near golf clubs or lakes are seeing the most interest.
CASHIERS
Homes Sold
LAKE TOXAWAY
Lake Toxaway’s luxury market maintained its footing in the third quarter, with steady year-over-year performance in the mid and luxury tiers. Both the $600K–$999K and $1M–$1.99M segments posted 4 sales, identical to the third quarter of 2024. The standout this quarter came from the ultra-luxury segment, which recorded nine sales, tripling last year’s third quarter performance.
With 22 active listings over $2M and only one currently under contract, absorption at the top remains slow, but the recent increase in closings suggests renewed confidence in this historically exclusive market. Lake Toxaway continues to appeal to luxury buyers seeking privacy, natural beauty, and elevated amenities.
alternative to busier markets.
LAKE TOXAWAY
Q3 Homes Sold
HIGHLANDS REGION
MARKET FORECAST
Buyer Activity and Fresh Inventory Signal
Optimism for the Highlands-Cashiers Market in the Fourth Quarter
As the Highlands-Cashiers Plateau heads into the final stretch of 2025, the luxury market shows signs of resilience and renewed opportunity. While thrid quarter closings dipped in certain high-end submarkets, particularly Highlands, pending sales and strong buyer engagement indicate a healthy pipeline for the fourth quarter.
Cashiers and Lake Toxaway continue to lead in terms of activity and momentum, with strong performance in the ultra-luxury tier. Elevated inventory levels across all segments are giving buyers more choices than they’ve had in recent years, while sellers who price in alignment with market conditions are still finding success.
With autumn colors, holiday traffic, and continued inbound migration from markets like Atlanta, Birmingham, and Florida, the outlook for the fourth quarter and early 2026 remains positive. Buyers are still drawn to the Plateau for its unique blend of elegance, seclusion, and natural beauty. The market is well-positioned to meet that demand with compelling inventory and competitive offerings.
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