Fuquay-Varina, NC has deep roots in the Triangle area. Fuquay-Varina is the coming together of two towns; Fuquay Springs and Varina. It has two downtown's with cute little boutique shops. It sits next to Holly Springs but, also has areas that are rural and go into Harnett County.
What some people don't consider is Real Estate is very regional. In our area, it can even come down to the very neighborhood and sometimes the different builders or levels within a neighborhood. It is important you work with a qualified Real Estate Professional who understands Real Estate statistics and can use every bit of information provided to not only help you get the best price when purchasing a home but, to help you not miss out on a great home.
When I work with people relocating to the area, I ask a lot of questions. The answers will help me show prospective buyers home that best meet their criteria and it will help me explain how our market is compared to where they're coming from.
Fuquay-Varina was hit a little hard during the recession. Not only were prices dropping, some homeowners were experiencing foreclosures, and gas prices also went up. Fuquay-Varina isn't as close to RTP as other small towns in the Triangle. Fuquay is where many home buyers go to get more land. However, once gas prices went up and homes closer to the dense employment areas prices went down, Fuquay-Varina homeowners suffered. Prices still haven't fully recovered.
Sellers still did not take a hit like other NC towns and especially not like other states such as FL, NV, CA, etc. It is important a homebuyer is educated in Real Estate before purchasing in this area. It will save them time, money and aggrevation if they have a Realtor who understands the market.
Below is a rough example of Real Estate Sales in the Fuquay-Varina NC area. You may be surprised at what percentage homes are selling for. It is also interesting to see where the sweet spot is and where the dips are.
Notice home prices are still selling at 97% - 98% of FINAL list price. The difference is you get more for the price and the medium price is in the low to mid - $200's.
Also notice how the days on the market fluctuate. This too demonstrates sweet spots for home buyers.
These statistics are for the entire town of Fuquay-Varina. The numbers will vary based on many things such as schools, area, neighborhood and more.
Comments(4)