What Are Raleigh Homes Selling For Now?
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As we continue our house selling and hunting project, I thought this guest post will give you an idea of the local market.
During the search for homes in Raleigh, you’ve likely come across a wide assortment of price points, with variances dependent on specific neighborhoods.
Each offers a selection of recreational activities, restaurants and nightlife hotspots, but first assess the median housing prices and match your budget accordingly.
Check out the following five neighborhoods that have sold the most homes in Raleigh recently.
North Raleigh
Almost 6 percent of all homes in North Raleigh have sold in the past year, making it a top neighborhood for sellers, and also buyers looking for variety.
Parents of young children have many options for outdoor entertainment without having to leave the city limits, making North Raleigh a convenient option for families.
North Raleigh is home to many recreational attractions, including the Williams Park Community Center, Durant Nature Park, Greystone Recreation Center, multiple golf programs and stores.
Additionally, FUNdamental Playgrounds is a full-service park and recreation center located in North Raleigh. The median home value in North Raleigh is $244,400, up 5 percent year-over-year.
Falls of Neuse
Falls of Neuse is located in North Raleigh, just south of Route 540. About 5.8 percent of all homes in Falls of Neuse have sold in the past year, with a median home value of $258,200, representing an increase of 3 percent in the past year.
Just south of the neighborhood is North Ridge Country Club, which offers 400 acres of outdoor space, perfect for avid golfers. There’s also a 70,000-square-foot clubhouse, family-size pool, fitness center, tennis court and an advanced golf maintenance facility.
Buyers looking for a community feel in a capitol city might consider Falls of Neuse as a top contender.
Northwest Raleigh
Nestled between the Northern Wake Expressway and Wade Avenue, Northwest Raleigh is home to the North Carolina Museum of Art, Crabtree Valley Mall and the community of Leesville.
Northwest Raleigh is also one of the closest neighborhoods to Raleigh-Durham International Airport, in case you’re keen on travel. Prices in Northwest Raleigh are fairly comparable to other neighborhoods in the city, with a median home value of $249,900.
Homes in Northwest Raleigh have increased in value 3 percent year-over-year, and 7 percent of all homes have sold in the past year.
Glenwood
The Glenwood South District in Downtown Raleigh is known for being progressive, energetic and trendy. In fact, 900 new condos and apartments are being built in Glenwood over the next few years in order to accommodate high demand without risking surging housing prices.
Currently, the median home value in Glenwood is at $553,900, up 4 percent year-over-year and 5.5 percent of homes have sold in the past year. Don’t let high home prices deter you if you’re looking to move to Glenwood on a tight budget.
Try searching for rentals in Raleigh instead. The median rent list price in Glenwood is $710 per month, making it a popular neighborhood for leaseholders.
Northeast Raleigh
Northeast Raleigh is located just east of Falls of Neuse. The median home value is below the city median at $151,600, which is a 2 percent increase from last year.
Good news for upcoming sellers: 5.9 percent of all homes in Northeast Raleigh have sold since the July 2014, indicating the area currently has a strong housing market.
Thoughts on Selling a House in Raleigh
Whether renting or buying in the City of Oaks, assorted price points and neighborhood attractions make Raleigh a practical, exciting place to call home.
For readers in the area – what are your favorite spots around Raleigh?
