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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

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:

Jobs in the Raleigh Area

Triangle Area Market Reports - How's The Real Estate Market in Raleigh?

Shopping in the Raleigh Area - What Kind of Shopping Is There?

Raleigh Relocation Package - All About the Raleigh Area!

Which Part of the Triangle is Cheapest to Live? Property Tax Guide

Finding Your New Home in the Raleigh Area

New Homes Raleigh NC - New Home Raleigh - Raleigh NC New Homes - New Home Raleigh NC Stanton Homes makes it easy! We'll guide you through the entire process - select from thousands of different floor plans, and hundreds of different locations. Custom modifications available too!

Call 919-278-8070 or visit www.StantonHomes.com to find out more!

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Copyright Stanton Homes 2009. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements. Stanton Homes is an NC New Homes Builder, with new homes in the Triangle and Fort Bragg area.

Posted by Stanton Homes - Penny Hull New Home Builders - Raleigh NC Area on 09/18/2008 07:15 AM

Comments (3)

Market Reports in the Home Buying Channel

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Originally posted at: Triangle NC Lots and Land: Where are the Best Bargains for New Homes in the Raleigh Area?

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

SEP

2008

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!

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

2008

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!

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