Historic Biltmore Forest estate linked to George Mason lists for $9.75 million

A historic Biltmore Forest estate with a direct line to Founding Father George Mason has listed for $9.75 million, putting one of Buncombe County’s oldest homes back into the spotlight. New Gunston Hall, also known as Franklin Hall, sits at 324 Vanderbilt Road on more than 11 acres and offers 8,688 square feet of living space.

The asking price places the property among the highest-priced estates in North Carolina, a reminder that the upper end of the local market is driven less by volume than by rarity. In a town with just 2.9 square miles of land and an estimated population of 1,343, a house with this much acreage, architectural pedigree and history stands apart from the rest of the market.

Completed in 1923, the Colonial Revival residence is described as one of the first homes ever built in Biltmore Forest. It was commissioned by William Mason, a great-great-grandson of George Mason, and was inspired by Gunston Hall in Virginia, the 18th-century home associated with Mason’s constitutional influence and with the nation’s founding era. George Mason’s original Gunston Hall, in Virginia, was built between 1755 and 1758.

That history matters as much as the square footage. The Biltmore Forest estate is listed on the National Register of Historic Places, which adds to its appeal for buyers looking for something that cannot be recreated on a new build lot. In a market where modern luxury homes can compete on finishes and amenities, this property’s value is rooted in provenance, site size and its place in the early development of Biltmore Forest, which was incorporated the same year the house was completed.

The listing is held exclusively by Alec Cantley, a global real estate adviser with the Asheville office of Premier Sotheby’s International Realty. For Buncombe County’s luxury housing market, the estate is more than a headline-grabbing sale. It is a measure of how scarce historically significant, large-lot properties have become, and how much buyers will pay when architecture, land and local history come bundled together in one address.