A detailed analysis of the local Real Estate market can be a real benefit when buying or selling a home. I did my last market report back in July and the market has changed some since then. For this report, I used data from the Sanford MLS to analyze the Real Estate market in Lee County. This analysis includes homes currently listed for sale along with sales data for the last 18 months. This data gives an idea of which segments of the Sanford market are sluggish and which parts of the market are experiencing more sales.
The following data gives a view of the general real estate market in Lee County. When looking for a home, it is important to use general data together with more specific neighborhood data to help determine a fair price both when buying and selling a home.
Buyers can use knowledge of the market to make sure they get a good price. Sellers need this type of data along with a comparative market analysis to determine the right list price for their home. If you are considering buying or selling Real Estate in Sanford or the surrounding area, contact me for more information!
Currently for sale
12 month Sales
Average per Month
December Absorption Rate
12 Month Absorption Rate
under $100,000
72
215
18
6
4
$100,001 to $200,000
239
342
29
15
8
$200,001 to $300,000
115
79
7
58
17
$300,001 to $400,000
38
20
2
38
23
$400,001 and up
33
12
1
N/A
33
Lee County Sales and Listing Data
Please allow me to explain the table on the left:
The "Currently for Sale" column lists the number of homes for sale as of January 13 for each price range.
The "12 Month Sales" column shows the number of homes sold for each price range in the last 12 months.
The "Average per Month" column gives the average number of homes sold in each price range per month for the last 12 months.
The "December Absorption Rate" column takes the number of homes currently for sale and divides by the number of homes sold in December for each price category. The absorption rate gives you an idea of how many months it will take to sell the homes currently listed for sale. As a rule of thumb, an absorption rate of less than 4 months indicates a seller's market. An absorption rate of 4-6 months indicates a balanced market, and an absorption rate of 7 or more months indicates a buyer's market.
The "12 Month Absorption Rate" is similar to the previous column but uses sales from the last 12 months. This is less sensitive to month to month fluctuation.
Lee County NC Homes Sold Under $99,999
The graph at right represents homes sold for under $99,999 over the last 18 months in Lee County, NC. The number of homes sold in this price range is fairly consistent except for a spike in sales in April and May of this year. This increase in home sales can be explained by a single investor who sold 50 homes in April and an additional 18 homes in May.
The 12 month absorption rate for homes in this price range is 4 months when all sales are included, and 6 months when the single investor's sales are excluded. The absorption rate using December sales is 6 months. An absorption rate of 4-6 months indicates a balanced market where there are about an equal number of buyers and sellers. If the market continues the average from the last year, it would take 4-6 months to sell the homes currently listed for sale.
Lee County NC Homes Sold From $100,000 TO $199,999
The graph at left represents homes sold for $100,000 TO $199,999 over the last 18 months in Lee County, NC. The number of homes sold in this price range is fairly consistent throughout the year except for a slight decline during the winter of 2006 and 2007. Sales during the last 4 months of 2007 were lower than the same period in 2006, which shows that this market segment is slowing down the last few months. This is the most popular segment of the market, with 342 homes sold in the past 12 months.
The 12 month absorption rate for homes in this price range is 8 months, which indicates a slight buyer's market. This means there are a few more homes for sale than buyers. If the current trend were to continue, it would take about 8 months to sell the homes currently listed for sale. Sales tend to slow during the winter, which is reflected in the December absorption rate of 15 months.
Sellers in a slight buyer's market need to price their home accurately to make sure it is exposed to as many buyers as possible. A well executed marketing plan can help a home stand out from other homes on the market.
Buyers in this segment can expect several homes from which to choose.
Lee County NC Homes Sold From $200,000 TO $299,999
The graph at right shows homes sold for $200,000 TO $299,999 over the last 18 months in Lee County. There is quite a bit of fluctuation in this market segment. The number of homes sold in this price range declined last fall with a spike in December. After December, there were very few sales in January and February before the market recovered in March. From March through August this segment did well. In September only 1 home sold in this price range, and with the exception of November, sales in the last quarter were significantly less than seen in 2006.
The 12 month absorption rate for homes in this segment of the market is 17 months, which indicates a buyer's market. This means that sellers outnumber buyers. If the current trend were to continue, it would take around 17 months to sell the homes currently for sale. The absorption rate for December when only 2 homes were sold was 58 months.
Sellers in a buyer's market need to market their home effectively to make buyers find it among the other listings. Pricing the home for the market is crucial to make sure it is shown to buyers. Sellers may want to consider using a professional stager to stage their home to make it really shine and stand out from the crowd.
Buyers in a buyer's market can expect to choose from many different homes.
Lee County NC Homes Sold From $300,000 TO $399,999
The graph to the left gives a picture of homes sold from $300,000 to $399,999 over the last 18 months in Lee County. The number of homes sold in this price range was steady through the fall of 2006 and then declined in January of 2007 . This price range recovered some in March but is still selling slower than last year. From September to December of 2006, 15 homes sold but only 7 homes sold during the same period in 2007.
The 12 month absorption rate for homes in this price range is 23 months, which indicates a strong buyer's market. In December, only 1 home sold, resulting in an absorption rate of 38 months. This means there are more homes for sale than buyers available to purchase homes. If the current 12 month trend were to continue, it would take almost 2 years to sell the homes currently listed.
Sellers who are selling in a strong buyer's market need to work hard to make their home stand out from the crowd. Sellers need to market their home aggressively. Homes which are priced too high may not be shown to prospective buyers who have a list of homes to choose from. Sellers need to strive to make their home the best value possible to attract buyers.
Buyers in this price range may have the upper hand. There are more homes for sale than buyers and buyers may be able to use this to their advantage.
Lee County NC Homes Sold over $400,000
The graph at right shows homes sold for over $400,000 over the last 18 months in Lee County. Only a few homes have sold in this segment in the last year, with 2 in February, 2 homes sold this June, 3 in July, 4 in September, and 1 each in October and November.
This price range has a 12 month absorption rate of 33 months, which shows a stagnant market. There are currently 33 homes for sale but only 12 homes were sold in this price range in the past year.
Sellers who need to sell in a stagnant market must price their home aggressively to make sure all possible buyers are exposed to the home. Sellers may need to market not only locally but regionally as well to attract a buyer. Sellers should consider all available resources to allow their home to sell.
Buyers in this segment are in the driver's seat and may be able to get a real bargain from among their many choices.
The last quarter of 2007 saw a softening of the market in Lee County when compared to 2007. In 2006, 234 homes sold during this period in Lee County but only 171 homes sold in the last 4 months of 2007. This is not a drastic change but it does show a shift in the market. For those who are selling a home it is important to make sure their home is ready for sale and priced correctly. For those who are looking to buy a home in Lee County this may allow for more choices and price flexibility than in the past.
This report is a broad summary of the Real Estate market in Sanford, Broadway, and all of Lee County. There are many local exceptions to the general market. If you are considering buying or selling real estate in the Sanford area, please contact me for an analysis of the neighborhoods or areas you are most interested in.
To find out more about Lee County, NC homes, visit the Lee County Neighborhood Information page on my website.
For more information about Real Estate in the Sanford, Lee County, or Harnett County areas, you can also visit my Sanford NC homes website.
The US 421 bypass around Sanford has been under construction for several years. A short section from Colon Road to Kelly Drive opened last year. This short section was out in the country and has been little used. Two additional sections were scheduled to be opened before the end of 2007. One of these two sections opened a few weeks ago.
The newest section to open connects NC 42 (Avents Ferry Road) to Kelly Drive. This section is labeled as section “D” on the map at left. Together with the previously opened section “C”, the bypass is now open between Colon Road and NC 42. The new section comes out right next to East Lee Middle school and the Coty plant on the East side of Sanford. This should reduce drive time to Raleigh for anyone on the East side of Sanford or Broadway.
A recent article in the Sanford Herald said that the next section of the bypass connecting to US 1 (section B on the above map) will open some time in January. The paper said this section is delayed due to a problem with road signs. This section will allow traffic to bypass all the traffic lights of downtown and is eagerly anticipated by many (including me). My concern is that when this section opens, a lot of traffic including heavy trucks will be funneled down a 2 lane stretch of NC 42 to get to the bypass. With homes along this stretch of Avents Ferry Road, I hope folks will be careful once this section does open.
The final two sections of the bypass (labeled “A” and “E” on the map above) were originally scheduled to start construction in 2008 but they have been delayed. The completion date for these sections has not been determined. I hope to see the road completed in the near future to alleviate congestion on Horner Boulevard.
Carolina Trace is a development of over 1,000 home sites Southeast of Sanford in Lee County, North Carolina. It offers two Robert Trent Jones, Senior golf courses built around 315 Acre Lake Trace. Carolina Trace also offers a country club with clubhouse, swimming pool, and tennis courts. Carolina Trace is divided into 19 separate neighborhoods, each with a separate homeowners’ association.
Details
Subdivision:
Carolina Trace
Community Amenities
- Security Gate
- Secured Entry - Gated property
- Swimming Pool(s)
- Clubhouse - Tennis court(s)
- Golf course
- Lake - Playground
Contact Info
Rita Taylor Broker Associate
Main 919-775-3611 Cell 919-478-5218 Dir 919-478-5218 Email | Website
We recently discovered a nature preserve near Sanford. The land for the preserve is located where the Rocky and Deep Rivers come together in Eastern Chatham County. It is less than a 20 minute drive from Sanford (directions here) but the roads to the preserve are not well marked. The road becomes gravel at one point and there is a no outlet sign. No Outlet signs on gravel roads usually mean its time to turn around but the preserve starts just past the sign.
After passing the No Outlet sign and a road end sign, the road turns to the left and the first sign for the preserve is on the right. The parking lot and trail head sign is just past this sign. There are no restrooms at White Pines preserve and it is pretty undeveloped except for a few trails. It is almost as if no one wants it discovered. That makes it perfect for as a quiet get away spot.We decided to explore the preserve the second Sunday in November when the area leaves were near their peak. We really enjoyed a quiet afternoon walking the trails and seeing nature.
We followed a trail out of the parking lot that looked like an old roadbed. The leaves on the trees were beautiful shades of red, yellow, and orange. The trail gently sloped downward and we kept going to an overlook area in this lovely wooded spot. After enjoying the overlook we took a trail descending toward the river.
At the foot of the hill we found the Rocky River. The trees along the riverbank were beautiful. As you can see from the picture, the Rocky River comes by its name honestly. My husband was drooling thinking of catching this river after a rain with his kayak. I just enjoyed the view while the kids skipped rocks. We continued down a trail that followed the river, enjoying an afternoon with perfect weather.
The trail continued until the Rocky River ran into the Deep River. We then followed the trail along the Deep River. The Deep River is named not for its depth but for the height of the banks along the river. We stopped several times to enjoy the view of the river. The Deep River forms the border between Lee and Chatham County along this stretch of the river.
While following the river we found a woodland bog. I can just imagine this bog in the spring teeming with tadpoles, frogs, salamanders, and other river critters. Next we doubled back and joined the main trail going back up the hill.
After climbing the hill we took a side trail. This trail took us us another hill that had a great view of the surrounding woods. After we got to the top of the hill we noticed several White Pine Trees. These trees are unusual because they do not grow in our area except at this nature preserve. The next closest stand of these trees in 70 miles to the Northwest at Hanging Rock State Park. This preserve was established to protect this stand of White Pines where the Rocky and Deep Rivers meet.
We saw one great specimen White Pine tree along the trail. This tree towered over the surrounding trees and was very impressive. After an enjoyable afternoon, we returned to our cars and headed back home.
The first weekend of November the leaves in Sanford were just starting to change. We wanted to catch the leaves at their peak so we decided to head to the Uwharrie Mountains. We had not been to Morrow Mountain State Park before but had seen the signs and decided to go. We picked up a bucket of chicken and headed out.
From Sanford it is just under a two hour drive. Head south to Carthage and then West on NC 24/27 towards Albemarle. Most of the drive is along a beautiful country highway. We enjoyed the scenic drive and when we entered the park the scenery was even better. The picture at right is the road up to the summit. The road reminds me of roads in the Smoky Mountains in the Western part of the state but much closer to home.
A Mountain View
At the top of the mountain there is a picnic area where we stopped to eat. After lunch we took the short trail that circles around the top of the mountain. The mountain is the highest point in the area at just under 1,000 feet. The views in all directions were great. The leaves had not quite reached their peak but the hillsides were covered with splotches of yellows and reds. The lakes and ponds in the distance contrasted with the rolling hills. It was well worth the drive just for this view but the park had a lot more to enjoy.
Morrow Mountain Museum
At the bottom of the mountain we found a small museum. In the museum there is a history of the Uwharrie Mountains. A study of the surrounding mountains suggests they are some of the oldest in North America - the eroded remnants of a mountain range older than the Appalachians. These mountains were the result of volcanic eruptions on a sea floor millions of years ago.There was a display of rocks from the area as well as Native American artifacts and animals from the surrounding forest.
Country Doctor
The road next took us to the homestead of Dr. Kron. This man was one of the first doctors to settle in this region of North Carolina. Doctor Kron was originally from Prussia and settled in the area in the 1830s. He traveled throughout the region tending to the sick. He was known to tend to not only people but livestock as well. He used all the latest medicine of his period including bleeding, herbs, and scalding the skin with hot water.
He also kept a greenhouse and grew exotic plants like oranges and lemons. He grew other fruits and vegetables in his garden as well. He lived into his 80s.
After exploring the Kron homestead we drove through the campground area and cabins while thinking about next summer. Both the cabins and campground look like a great place to get away and relax.
Lake Tillery
Our next stop was along the shoreline of Lake Tillery. This is a beautiful lake formed by a dam where the Uwharrie and Yadkin Rivers meet. There are docks great for viewing the lake or fishing. There is a boathouse that rents canoes and rowboats during the warmer months. The boathouse was locked at the end of October which was a shame because it would have been a great day for a trip around the lake.
Falls Dam
We decided to hike along the lake shore to enjoy more of this great day. After a couple of miles we reached the end of Lake Tillery at Falls Dam. The dam is pretty and there is an interesting outcropping of rocks that we enjoyed exploring.As the sun started to go down we walked back to the car and started the trip back home after a wonderful day of enjoying nature in the fall.
We headed out to the fair in October for a bunch of fun. Someone had ordered up perfect fair weather with highs in the low 70s and sunny blue skies.
As we entered, we saw the tractor pull going on. We stopped and watched for quite a while before the pull of the rides got to my kids. They had a big variety of tractors - it was fun to watch.
On the way to the rides we saw one of our favorites from last year. This artist makes fascinating pieces of art using a chainsaw and logs. These sculptures have a lot of detail and he makes everything from pumpkins to bears, fish, school mascots, and everything else in-between. It is always fun to watch an artist at work.
We moved on to the rides and the kids had a blast - I had so much fun watching them that I didn’t snap pictures - I guess I’ll have to do that next year. We ran in to a bunch of people we knew - the fair was a popular destination.
There was a small circus at this year’s fair. They had a lady who did aerial acrobatics - she was very good. Next up was a guy who ran around a large wheel kind of like a human hamster. The difference was the wheel rotated around and went high above the ground. It was scary. There were motorcycles in a steel cage driving around a person standing inside. There was a hula-hoop contest for the kids in the audience. You would never confuse it with Ringling Brothers but it was well worth the $5 fair admission.
We visited the agricultural exhibits - they had goats, horses, cattle, turkeys, and chickens. They had a large variety of hens and chickens and some of them were very fancy. My daughter loves animals and really enjoyed this part of the fair.
The exhibit hall always has a huge variety of different exhibits. They have displays that focus on different themes. The exhibit on the right was sponsored by the 4-H club and had ways to conserve energy.There were also entries for all kinds of farm produce from tobacco to watermelons, pumpkins, and squash. They had cooking, canning, and craft entries. The pack that is affiliated with my son’s scout troop had a winning scarecrow entry dressed as a cub scout.
We made it out to the food booths and filled up on burgers and BBQ with funnel cakes for dessert. Somebody once told me that calories don’t count at the fair - I hope they were right!
We stayed until it got dark and then headed home tired after a day full of fun.
The fair only lasts for a week and comes but once a year. On Monday the rides were all down and the fair was returning back to its normal state of quiet. This weekend, children were once again playing soccer on the fields that are home to the San-Lee soccer league. I am already looking forward to next year - see you at the fair.
When most people think of North Carolina Barbecue they see images of pork smoked with either a tomato or vinegar based sauce. North Carolinians have long argued which style is better. Those from the Eastern part of the state usually prefer the vinegar based and those in the Western mountains are known for the tomato based pork barbecue. For many, Barbecue is a lifestyle, but looking at the church you may wonder what religion has to do with Barbecue.
Harnett County is in the heart of North Carolina and has a Barbecue Creek, a Barbecue township and a Barbecue church. This church is older than our great country and was founded in 1757. This part of North Carolina was settled by Scots from Jura and Skye in Scotland. These Scots were Presbyterians and founded a church. The first language of the church was Gaelic.
The current sanctuary is the third building and was built in 1896. It has been remodeled and added on to countless times since then. The church has almost dissolved several times but is going strong today. The sign in front of the church has a saying on it - “Ceud mille failte”, which is Gaelic for “A Hundred Thousand Welcomes”. It seems appropriate that this church originally founded by Scots still uses this Gaelic saying to welcome the community today.
The cemetary behind the church bears many names of many local families such as Buie, McLean, Brafford, Cameron, Holder, and Rosser. The history of this church is intertwined with the history of the local community. The next time you hear Barbecue just think of all the history Barbecue has in this part of North Carolina.
To find out more about homes in Harnett County, visit the Harnett County Real Estate page on my website. Contact me today to help you find the right home for you.
Throughout the month of October, the Gross Farms Corn Maze will be open to visitors. You can find your way through the acres of corn fields in the photo above to 15 different way points. The maze is open to visitors on Fridays, Saturdays, and Sundays. This year the design of the maze celebrates Lee County’s centennial. This is a big maze so wear comfortable shoes and use the bathroom before you head out into the rows of corn. It took us a couple of hours to navigate to all the way points but it could take more or less time depending on your group.
Starting October 13, the corn maze will feature a haunted trail. We went a couple of years ago when my daughter was 7 and she was terrified so I wouldn’t recommend it for the younger ones. If you are ready for a thrill and not at all squeamish, it is a fun way to spend a crisp autumn evening.
They also have a playgorund for the kids, hay rides, homemade ice cream, and a pumpkin patch. Find out more at the Gross Farms Website.
Sanford NC Brush and Palette Club Show
The 43rd annual Sanford Brush and Palette Club Show is being held at the Hales Center on McIver Street (also known as the old Armory). The show is open from 10 AM to 6 PM and runs from October 6th to the 13th. The show features the work of local artisans. The show will have not only paintings but sculpture and pottery as well.
We found this show by accident last year on the last day. We arrived just before the show ended and rushed thorugh. Our family will go earlier this year to make sure we get time to enjoy all the wonderful artwork.
The Sanford Brush and Palette Club promotes art throughout the community with private lessons and art workshops for children. They also sponsor a scholarship fund for local high school students. I encourage anyone who enjoys art to come out and enjoy this show.
Lee Regional Fair
As the home of SASL (Sanford Area Soccer League), the fairgrounds in Sanford are used as soccer fields most of the year. That will change when the Lee Regional Fair opens in Monday October 8th. The fair hosts exhibits including livestock, agricultural, cooking, baking, needlepoint, sewing, art, crafts, and much more. There is a beauty contest, singing, a mechanical bull riding competition, karate demonstrations and too much to mention.
Did I forget the rides? There are plenty of exciting carnival rides. Of course, there are the carnival games. Oh, and the food - funnel cakes, fried candy bars, cotton candy and too many calories to count them all.
To find out more about the fair, visit the Lee Regional Fair website. We still haven’t decided which day to go - each day has its own unique and fun events.
2007 NC Big Sweep in Lee County
The 2007 NC Big Sweep is on Saturday October 6th. This is a day each year where residents clean up our local parks and waterways. My son has done this several times and has had fun while learning an appreciation for the environment. This year Lee County Parks and Recreation is working to clean up San-Lee Park, Kiwanis Park, and Camelback Bridge (Deep River Park). Show up at any of the parks in the morning and help in this clean-up effort. Contact San-Lee Park at (919)-776-6221 for more information on how you can help.
Memory Walk 2007 in Lee County
The Lee County Memory Walk to benefit the Alzheimer’s Association will be on Saturday October 6th at Kiwanis Park in Sanford. Registration begins at 9 AM. War-up starts at 9:45 and the walk starts at 10 AM. The walk is around the 1 mile Kiwanis Trail.
There will be entertainment, food, and displays. You can honor a loved one at the Memory Garden. Those who raise over $50 will receive a Memory Walk T-shirt. For more information, contact Judi Womack at (919)-776-0501.
Annie at Temple Theater
The classical musical Annie opens this month at Temple theater in Sanford. Annie features weel-know songs such as “Tomorrow” and “Hard Knock Life”. “The show starts on October 19th and goes through to November 11th. See the following list for dates and times:
Thursdays at 7:00 pm (10/25, 11/1, and 11/8) Fridays at 8:00 pm (10/19, 10/26, 11/2, and 11/9) Saturdays at 2:00 pm and 8:00 pm (10/20, 10/27, 11/3, and 11/10) Sundays at 2:00 pm (10/21, 10/28, 11/4, and 11/11)
Temple Theater is a great local theater and seeing a show is an enjoyable experience.
Anderson Creek Club is a gated community in the heart of Harnett County North Carolina. Anderson Creek Club is close to Fort Bragg, Fayetteville, and Sanford. This community features a Davis Love III designed golf course, swimming pool, tennis, lake, community center, nature trails, croquet course, and much more. This community offers single family homes, townhomes, and condominiums. Prices start from the 160s for condominiums and go to over $500,000 for some of the larger single family homes. Pictures of homes in this show are for example purposes only - I do not have any of them listed.
From January 2005 to January 2007, 148 homes in Anderson Creek Club were sold. Prices ranged from $190,000 to $491,000, with an average of $311,000. Please Email Me and I will be happy to send you current MLS listings of homes in Anderson Creek Club or any neighborhood in the Sanford, Lee County, or Harnett County areas.
To find out more about homes in Anderson Creek Club, visit the Anderson Creek Club in Harnett County, NC page on my website. Contact me today to help you find the right home for you.
A bypass of US 421 around Sanford has been under construction for several years. US 421 currently goes through town, and anyone who has hit every light red can understand the need for this new road. A short section From Colon Road to Kelly Road has been open for over a year (Section C on map below). This section is in a quiet fairly remote area and hasn’t seen much traffic.
That will change in a few weeks when two additional sections of the bypass open. These sections will connect US 1 with NC 42 (sections B and D on the map below). These two sections will make access to US 1 from Broadway much easier. No doubt a lot of traffic will travel the couple of miles down NC 42 to miss the red lights on Horner Boulevard through downtown. Unfortunately, NC 42 is only 2 lanes, and this road will be overloaded until the final two sections (Sections A and E on the map below) are completed. The NCDOT has delayed the final two sections and they will not be finished for several years.
You may wonder how this affects the real estate market in Sanford. The bypass will make some areas like Broadway and Carolina Trace easier commutes to Raleigh, Cary, and RTP. Some neighborhoods are very close to the bypass and will see increased noise from traffic. For neighborhoods adjacent to the sections under construction it is easy to see where the bypass is located.
For the two sections of the bypass not yet under construction, it is more difficult to determine how the bypass will affect individual neighborhoods. One tool that can help is the Lee County GIS system, which allows the future bypass to be placed on top of a current county map. I had a client who was looking for a quiet subdivision. I gave him a printout of the GIS map and he was surprised to learn that a subdivision which is currently very quiet will pass within a few hundred yards of the last section of the bypass.
Sanford NC Homes and Real Estate. This blog focuses on Sanford NC Real Estate and Homes for Sale. The Sanford area includes Broadway, Lee County, and Southern and Western Harnett County.
<!-- Start of StatCounter Code -->
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
