It’s time for a quick look back on Park Village in Cary to see how the neighborhood fared in 2009. I used to live in Park Village and was fortunate to work with 3 sellers in the neighborhood during 2009 that sold quickly, 2 in less than 30 Days.
Park Village neighborhood is one of the most popular neighborhoods in the Triangle and typically ranked as one of the Top 10 resale neighborhoods in Triangle*.
There are a number of reasons that buyers continue to purchase homes in this area which include:
- Neighborhood amenities-Full size swimming pool, clubhouse, and swim team
- Schools - Walk to Davis Drive schools in the front of the neighborhood and Apex schools in the back of the neighborhood
- Biking and walking trails
- Proximity to shopping and RTP
- Affordable housing in Cary
That said, it’s not surprising as we take a look at the numbers that sales for Park Village have held up through 2009 even though homes sales through 2009 in Wake County were off by 26% at Year-End**.
For the sake of this homes sold analysis I've broken them down by 1-Car Garage vs. 2-Car Garage and an analysis of year over year sales so you can get a better idea of the homes sold in the Park Village in Cary.
Here are a few observations for 2009:
- Many homebuyers are looking for established neighborhoods and now that Cary Park is virtually complete it is becoming one of the first established neighborhoods in Northwest Cary.
- Homes sales in Park Village are off by 14% which is considerably better than most Triangle Neighborhoods.
- Sales and prices are flat year over year. However, homesales of 2 Car Garage homes increased 70% from ’08
- The 1st Time Homebuyer tax credit has impacted sales in Park Village. When the new $8000 tax credit came out the psychology of the market shifted as many homebuyers got serious about buying a home to receive the tax credit.
Looking forward to 2010 it is apparent that the Park Village Neighborhood in Cary will continue to prosper. Homebuyers are looking for excellent schools, nearby shopping, restaurants, & proximity to RTP continues to make the neighborhood affordable for families aspiring to achieve the “Great American Dream” of home ownership.
Find current Park Village Listings Available here.
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