Last year I moved from Apex to a great new location in Cary NC. One of the things I love about where I live now is the proximity to great restaurants, shops, and other local businesses.
One of my favorite treats is the addition of the café to La Farm Bakery in Cary. In the past La Farm has cooked up the best French bread in Cary bar none!!! The proprietors, Missy & Lionel Vatinet, have had the long-term vision of expanding the Bakery and operating an authentic French Café which they did earlier this year. There are so many things to cherish at La Farm including their signature sourdough whole grain bread, classic baguettes, pastries, fresh homemade granola, and much more. There are usually samples available when you enter. My favorite during lunch are the freshly made Tartines . I also enjoy going for brunch on Sunday before heading out with clients.
Mauro and I are big fans of the European dining experience which has truly been captured at La Farm Bakery & Café. So, if you're out and about and want a real treat choose La Farm Bakery & Café in Cary!
I'm in the process of putting together some detailed information for my neighborhood newsletter and I thought this would be a good opportunity to discuss the Cary NC Luxury Real Estate market in 2009. I'm asked on a regular basis how the market is holding up in our area and the answer can be quite different depending on the price points. The Cary NC Real Estate market has held up quite well relative to the rest of the country. In fact, the Raleigh Cary MSA is regularly touted as one of the top 2 strongest in the country along with Austin TX.
The one recurring theme that I've noticed with listing and selling homes in this price range in Cary is that, although the numbers are still strong for sales above $500k, new construction seems to be garnering a large proportion of the luxury home segment. Year-to-date in Cary there have been 151 home sales for detached homes above $500k, 91 of those homes (60%) were new construction.
The Triangle Real Estate Market is off close to 40% this year from last year so I thought it also might be interesting to analyze how the Cary NC Luxury Real Estate market's sales are in 2009 vs. 2008. As I mentioned above there have been 151 luxury home sales in Cary in 2009 YTD so I also wanted to pull the details on the Luxury Home Sales from 1/1/2008 -9/19/08. There were 238 in 2008, which represents a 36% decline. The logical conclusion is that Cary Luxury Home Sales are holding up quite well.
In Cary there are a couple of other elements at play which I have mentioned in previous reports. In the past homes in established neighborhoods like MacGregor Downs and Preston sold incredibly well because the neighborhoods were well established and had golf course views lending homebuyers the highly desired country club lifestyle. Another trend that is blindingly clear - builders are no longer are no longer touting the phrase "build it and they will come". Custom Builders in this area have taken a beating and overbuilt for the growth. We are slowly churning through the existing specs which will soon be gone. As a result, builders will not be doing the wheeling and dealing we have seen in the area this years on the existing homes.
For the sake of this analysis I'm going to break down the homes into four price points:
$500,000-$700,000
$700,000-$800,000
$800,000-$1M
$1M-$2M+ and $2M+
All figures are bases on numbers pulled today September 19th and are from the Triangle MLS:
Here are a few observations that relate back to my comments above:
The average price/square foot for Cary's Luxury homes is $150/square foot and $170/square foot above $700k which is quite lower than laste years $197/square foot but sill less expensive than homes in other popular Luxury Home communities in the Triangle
Top Selling established neighborhoods include Preston w/12 Sales, MacGregor with 6 Sales, Lochmere w/5 sales, and Wyndfall w/6.
New construction neighborhoods selling briskly include Copperleaf, Southbridge at Cary Park, Hillard Forest, and Green Level Crossing
In the $700k-$800k price range there are 5 pending, 2 in Lochmere, 2 in Wyndfall, and my listing in Glenkirk.
In 2008 there were 17 homes that sold between $1M-$2M. This year there have been 24, however only 1 resale in this price range.
Last year there were 28 homes on the market over $1M. Today there are just 12 and no increase in sales which indicates a number of sellers have taken their homes off the market until the market improves.
Supply on Market climbs as the price point increases.
If you have any questions regarding this report or would like more information on the Cary NC Luxury Home Market please feel free to email me or visit my website for more information.
Live the lifestyle at Cary's Finest Active 55 Community! Don't miss this immaculate home on a quiet cul-de-sac located in Cary's own Heritage Pines Active 55 community. The beautiful low-maintenance landscaping & koi pond are located on a private wooded lot! Updated fixtures,SS Appliances,HW throughout, smooth ceiling! Oversized deck, gourmet kitchen,Fantastic location convenient to shopping, medical, & Sr. Center.
Most of you know that I live right off of Cary Parkway. Right down the street from my home is one of the busiest intersections in the Town of Cary at High House and Cary Parkway. That said, this intersection has also been the cause for concern:
It has the highest rate of accidents for all of Cary Pkwy
The accident rate is 2x the state average
There were 67 accidents at the intersection between 2005 and 2008, almost half involved left turns
Based on 2020 traffic projections, the intersection will have something on the order of an 8 minute wait time during peak hours
The Town if trying to determine a better way to route the traffic in order to reduce accidents and eliminate wait time. The current idea on the table seems propostorous in my opionion. Basically, the idea would be to use the Jersey Mike's parking lot access road to divert traffic.
I personally think this solution would detract from the overall appearance of the Town of Cary just to eliminate a "cheap" solution to the problem.
On the other hand, I like the idea of traffic circles. What do you think the Town of Cary should do about the bottleneck at High House/Cary Parkway?
Photos of the updated kitchen coming soon! The breakfast area features a great view of the backyard and is also light and bright!
One of the few 1st Floor Master Suites in Preston Village features a bay window, new carpet, and a fresh neutral tone!
Walk into a luxurious Master Bathroom that features a whirlpool jaccuzzi, separate shower, and dual sinks. Walk past the shower to the large Walk-In Closet!
Warm hardwood flooring, wainscoating, and trey ceilling are some of the features of the dining room
Entertain in style on the large 12'x29' deck
Description
Immaculate Brick-Front home in Prestigous Preston Village! Open floor plan features dramatic great room w/built-ins. Updated kitchen icludes 42" Maple Cabinets, granite, tile backsplash. Large 1st Fl MSTR w/WIC, Fresh new paint, carpet, & beautiful landscaping too! A must see!
Beautifully appointed brick & Stone home in Bishops Gate that shows like a model! This home features a fabulously appointed gourmet kitchen which is a chef’s dream w/custom cabinets, granite countertops, designer travertine stone backsplash, Lg. island w/veg sink, built-in sub-zero refrigerator, SS oven/mw combo, 5 burner gas cooktop w/chef style vent, high-end SS dishwasher, and wine cooler! The Master Suite adorns a double trey ceiling w/sitting area complimented by the luxury bath w/ tiled shower, and WIC! The spacious deck, outdoor grill, and hottub are great for entertaining!The neighborhood itself features walking trails and a community pool! Don’t miss this fabulous find!
Vaulted ceilings, gleaming new hardwood floors throughout, and warm gas fireplace compliment the grand family room overlooking the wooded backyard!
Spacious kitchen features an oversized sink, electric range, built-in microwave, and tiled flooring throughout!
Enjoy entertaining in the dining room featuring updated rubbed bronze lighting, new hardwood floors,
Master Bedroom has new carpet, vaulted ceilings ceiing fan, and a fresh neutral tone throughout!
Description
Beautiful home located on a premium lot with a FLAT backyard backing to the greenway w/ALL the updates! Entertain your friends in the dining room w/doors that overlook the large custom built deck. Vaulted Great Room/Master. Real hardwoods & tile throughout the home. Renovated 2nd Bath! New Tankless Water Heater!!This home is must see in Park Village!
Everytime you drive up you'll appreciate the curb appeal and charm of this beautifully appointed Craftsman Style home in Cary Park!
The spectacular oversized wraparound porch offers a wonderful use of space and is a great compliment to the craftsman style architecture!
The Gourmet kitchen features all the bells and whistles including 42" maple cabinets, oversized island, ubba tubba granite counterstops, tile backsplash, brushed nickel knobs, gas range, double oven, and gleaming hardwood floors!
The spacious great room with vaulted ceiling features a gas fireplace with granite surround, ceiling fan, and is open to the 2nd floor catwalk!
Oversized Master Suite is complimented by the separate sitting room, neutral tones, ceiling fan, and exceptional crown molding.
Luxurious Glamour Bath features a large walk-in closet
This home is one of the few homes that backs to the woods and a protected area in Cary Park!
Cary Park has a private club available for use by Cary Park residents. A gathering spot for the community, it offers children
Description
Don’t miss an opportunity to own this beautiful craftsman home in Cary Park that shows like a model!! Fabulous curb appeal features an inviting wraparound porch & beautiful landscaping! Gourmet kitchen includes Granite Countertops, gas cooktop, double oven, large island, tile backsplash & comfortable breakfast area. You'll enjoy entertaining in the elegant dining room with wainscoting & butler's pantry. Beautiful hardwoods throughout the 1st Floor. Luxury Master Suite includes sitting room and dramatic spa bath. 1t floor guest suite is great when the in-laws visit! Large bonus room is perfect for the whole family!! One of the few lots in Cary Park backing to the woods! The community itself has beautiful walking trails, community pool, shopping, and schools located in the neighborhood!!
Vaulted ceilings compliment the gas fireplace in the living room!
Breakfast area has french doors leading to the spacious deck!
Updated kitchen includes tile backsplash and corian countertops
Wow! Completely redone Master Bath - new countertops, fixtures, and sinks!
Spacious deck overlooks the fenced backyard
Park Village includes numerous amenities - community pool, playground, walking trails and is convenient to soccer, cary parks, and area shopping!
Description
Must See! Beautifully updated home in Park Village! Kitchen highlights include corian countertops, tile flooring, and travertine backsplash! Sip your tea and catch up on reading in the breakfast area w/french doors that overlook the spacious deck & fenced backyard. Bathrooms include new countertops, hardware, & fixtures. Vaulted living room features fresh new carpet, neutral tones, and a gas fireplace. The neighborhood offers jogging trails, pool, clubhouse, neighborhood pond, and playground.
Have you ever been stuck in traffic at the bottleneck at Morrisville Carpenter and HWY 54 in Morrisville? I know I have many times over the past 10 years. However, the long awaited $3.4 Million expansion has finally arrived. Beginning Saturday April 25thMorrisville Carpenter Road will be closed from Church Street to NC 54 from four to six weeks to finalize the expansion. It certainly will cause numerous traffic problems around the area until the expansion is complete. However, the expansion has been long overdue.
Even though these roads are owned by the State, the Town of Morrisville passed the bond due to the importance of this heavily traveled corridor.
Click here to see a map of the planned changes. Click here for a detour map. The road expansions throughout Cary and Morrisville have made a big change to the traffic flow and this expansion will also make a big difference.
Welcome to my Triangle Area Real Estate Blog. This blog provides Triangle Area real estate information and resources to guide homeowners and buyers through the process of selling and buying a house, townhome or even investment property. If you are interested in Triangle Real Estate, please e-mail me here for a personal response! Thanks and let's get blogging!
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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.
Have you ever been stuck in traffic at the bottleneck at Morrisville Carpenter and HWY 54 in Morrisville? I know I have many times over the past 10 years. However, the long awaited $3.4 Million expansion has finally arrived. Beginning Saturday April 25th Morrisville Carpenter Road will be closed from Church Street to NC 54 from four to six weeks to finalize the expansion. It certainly will cause numerous traffic problems around the area until the expansion is complete. However, the expansion has been long overdue. 
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