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Where are the Best Bargains for New Homes in the Raleigh Area?

By Stanton Homes

Home Builder with Stanton Homes - New Home Builder

September 18, 2008 12:15 AM

Real Estate Prices in Wake County NC

Finding the Most Affordable Area of Wake County

Raleigh, NC sits in the heart of Wake County. As one point of the Triangle, Raleigh offers tremendous cultural experiences, great jobs, and much more. Raleigh has been rated a Top 10 Best Place to Live over and over again.

So how much does it cost to live in the Raleigh, NC area?

We took a quick look at some sales numbers from June-August of 2008, to help find a comparitive cost for homes in the Raleigh area. This is specific to Wake County, NC only.

How much does it cost to live in Raleigh, NC - market report September 2008 - buying a home in raleigh nc

Overall, this gives a good picture of the comparitive costs of each of the towns within Wake County, including Apex, Cary, Fuquay-Varina, Garner, Holly Springs, Knightdale, Morrisville, Raleigh, Wake Forest, Wendell, and Willow Spring.

While you may find a brand-new home in Cary with 2759 square feet and all the trimmings for $355,869, there's a few factors to keep in mind:

- Sales of land (with no home) are included in the total average sales price.

- Sales of townhomes, condos, and duplexes are included in these averages.

- Sales of older homes (a large percentage of homes were built before 1990) are included in these averages.

How much does it cost to live in Raleigh, NC - market report September 2008 - buying a home in raleigh nc

In Wake Forest, for example, there are quite a few luxury home communities, which pulls the average price up.

However, there are also some great opportunities for homes in the $200s and even $100s - it all depends on what the buyer is looking for.

There are other factors to consider, such as amenities, shopping, schools, commute distance, size of lot, and surrounding neighborhoods. And even within a single town, there are a great variety of different neighborhoods with different amenities and features.

A town like Knightdale may have more "starter" communities, while Cary and North Raleigh offer more "luxury" communities.

You may also be interested in:

Wake County New Home Communities

Wake County NC New Homes

Wake County NC Property Tax Rates 2011

Build On Your Lot in Raleigh, NC

Accessible Homes NC – Accessible Builders in Raleigh

Acreage Lots for Sale Raleigh, NC

Raleigh, NC New Home Lots and Land

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Andrew Mooers | 207.532.6573

MOOERS REALTY - Houlton, ME

Northern Maine Real Estate-Aroostook County Broker

Wow....you need to make sooooo much more money to live here and keep your head above water. In Maine we are used to a quality home for $40,000, $50,000 and a tad higher! Good post and contrast!

Sep 18, 2008 12:51 AM

Craig Rutman

Helping people in transition - Cary, NC

Raleigh, Cary, Apex area Realtor

Good job Penny!

My thought is that if you have a family, with all that the area has to offer you and your family, how can you afford NOT to live here!

Sep 18, 2008 01:34 AM

Stanton Homes

Stanton Homes - New Home Builder - Raleigh, NC

Design/Build Custom Home Builder in North Carolina

Just in the past year alone, Raleigh has been named: #4 Major Market in the South, #20 Best Place to Live and Launch (CNNMoney.com), #3 Most Romantic City for Baby Boomers (Sperling), #1 Best Place for Business and Careers (Forbes), #6 Medium Sized Metro, #2 Best City for Bargain House-Hunters (Forbes - refers to lack of explosive increase in house values seen in other areas), Best American City for Singles, #9 Best City for Jobs (Forbes), Top 5 Strongest Real Estate Market (Veros.com), #3 Most Wired City (Forbes), #1 Healthiest City for Men (Men's Health), 5-Star Public Education Metro, Top 25 Places for Retirement Jobs, Top Research Science Park.

And that isn't all!

The Raleigh area has one of the highest concentrations of PhD's anywhere in the nation, many of whom work at the Research Triangle Park, along with top universities like Duke, UNC Chapel Hill, Meredith, and more.

The Duke and UNC Medical Centers are some of the top rated in the nation.

There's all the culture: Museums of History, Art, Natural Science and more. Wait, then there's the Carolina Ballet, the North Carolina Symphony, Broadway Series South, the North Carolina Theatre, and all the great concerts and shows at the RBC Center. Oh yes, and tons of state and city parks, huge lakes, and all only 2.5 hours to the beach!

The surprising thing with all these accolades, is that real estate appreciation in the area has remained slow and steady, at about 4-6% per year for the past decade or so.

There are definitely some areas that are much more affordable than others - it all depends on what you're looking for, what your budget is, and what your priorities are!

Sep 18, 2008 10:59 PM

Where are the Best Bargains for New Homes in the Raleigh Area?

Real Estate Prices in Wake County NC

Finding the Most Affordable Area of Wake County

So how much does it cost to live in the Raleigh, NC area?

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