Wake County Local Real Estate Market Update for July 2009

The residential Real Estate numbers for July 2009 show a familiar sight with most numbers in the minus category but I don't think anyone will be surprised at that. Days on market going in the opposite direction an increase from 83 in 2008 to 98 in 2009 and average sale price year to date is actually up over the same time frame in 2008 from $254,752 to $261,392.

Listings dropped in July 2009 to 2175 from 2509 while the year to date dropped from 18,550 to 15,343. A positive sign if you consider less houses on the market makes the ones out there more attractive.



Closed sales in July 2009 were 1,274 a drop of 10.5 % from 2008 of 1,424, while Year to date closed sales went from 8,961 to 6,495 a 27.5% drop.
Inventory of homes also fell from 9,727 in 2008 to 8,632 in July 2009.





The median sales price in July 2008 was $214,945 and in July 2009 $207,000 and the percent of original list price received at sale in 2008 was 97.9% while in 2009 it was 96.8% ( these numbers do not account for seller concessions)



If you would like more information or you are interested in a particular neighborhood please send me an email at odohertyd@hpw.com
If you like you can call me at 919-601-2268 or visit my website at www.davidorealtor.com

The figures for the market update come from the Triangle MLS and while they are deemed to be accurate they should not be used as a basis for determining the list or sale price of a house.

Morrisville, North Carolina bucks the trend in Real Estate.

Morrisville, North Carolina bucks the trend in Real Estate

Morrisville, North Carolina a town of approximately 15,000 bucks the trend in real estate at least when it comes to building permits.

From January to June 150 new home permits (you remember them) were issued, an increase from 126 for the previous year.

Morrisville is in central North Carolina about equal distance from Raleigh and Durham. It is located right beside Research Triangle Park and Raleigh-Durham International Airport. These facts and the access to major highways make it attractive to homeowners and business's alike.
Homes in Morrisville range in price from the low $200's all the way up to 2.5 mil.

Archer Lodge, North Carolina set to become a Town.

Archer Lodge, North Carolina set to become a Town.

The community of Archer Lodge in North Carolina is one step away from incorporating. Voters will decide on November 3rd whether they would like to live in the town of Archer Lodge or not. If approved the town would cover approximately nine square miles and have about 3000 residents.
The property owners of Archer Lodge would face an 8-cent tax per $100 value of their property, roughly $80 on a house valued at $100,000. Services likely would include police protection, water and land use planning and zoning and of course fire protection which is in the very capable hands of The Archer Lodge Fire Department.

With the larger towns of Clayton and Wendell, some residents saw the writing on the wall as these towns pushed their extraterritorial jurisdiction closer and closer and eventually the community could be swallowed up by the growth.

Archer Lodge is approximately 30 minutes from downtown Raleigh and about 40 minutes from Raleigh Durham International Airport. It is made up of farmland and small subdivisions. The new Archer Lodge Middle school was just recently built.It has a great community center which organizes all sorts of activities for local school children, soccer, t-ball, baseball, etc.
It also has the best Fourth of July celebration with a great parade and fireworks, which draws people from all over to watch.

Maybe now people will stop calling it Archers Lodge

So what do you think? Town or no Town, send me an e-mail and let me know.

odohertyd@hpw.com

Southwick Farm Subdivision in Clayton NC

Southwick Farm Subdivision in Clayton NC
Southwick Farm Subdivision in Clayton NC is a wonderful subdivision of homes 10 minutes from downtown Clayton and thirty minutes from Raleigh.

Homes are priced from the mid $140's up to the lower $200's, there are ranch style homes and traditional two stories, some homes have two car garages while others have gravel driveways. The lots are mostly an acre and bigger with the majority being wooded lots. There is a homeowners association being formed as this post is being written. The local schools because of the growth of the area can change but if you need information contact Johnston county schools at Johnston County Schools, or send me an e-mail at odohertyd@hpw.com

There are a number of pools and fitness clubs nearby, namelyThe Pineville Club and Vinson Ridge Racquet and Fitness Club and Riverwood Athletic Club. There are lots of softball,baseball, t-ball, football and soccer clubs in the area, not to mention scouts, cheerleading etc. etc.

Sale prices of homes peaked in 2007 (what else is new!), dipped in 2008 and year to date in 2009 show a further decline however there are a number of homes pending and listed at time of writing and they might pull the figures upward.

Jobs coming to Cary NC and the surrounding area.

There are jobs coming to Cary NC and the surrounding area. There has been been some good news on the job front here in the Triangle area of North Carolina. The big news is that financial services giantDeutsche Bank is planning to move to the Triangle and possible create 300 jobs paying an average salary of $88,213.

The Research Triangle area already has a large workforce of highly skilled IT and technology professionals.
The bank looked at other areas of the country including Maryland but decided that the Research Triangle area in Cary had the most to offer. Cary has received many awards over the years as one of the best places to live and work in America.

Fidelity is building in Research Triangle Park and Credit Suisse employs about 800 there. They are creating next generation software for the banking industry.

Meanwhile Johnston County Schools have 75 open positions that include teachers, teachers assistants, bus drivers and custodians, although some of the positions are in limbo because of an order from the Governor that says they can only fill positions that directly affect the classroom. The website to get some more information is http://www.johnston.k12.nc.us/

Also of note is Johnston Health will be opening their new medical center in Clayton in September.

Wyndfall Subdivision, Clayton NC Home Sales Statistics

Wyndfall Subdivision, Clayton NC Home Sales Statistics

Home statistics for Wyndfall Subdivision in Clayton, North Carolina. While homes in the subdivision have fluctuated with the peak in 2005 and a rise in 2007 the sales price has risen year after year. The average sale price in 2005 was $119,015 while the average sales price in 2008 was $139,128 and 2009 year to date the average sales price is $140,167.

307 Wyndfall lane NC sold in 2008 for $147,451 and sold again in 2009 for $151,000 however as with all of these figures you have to keep in mind that closing costs may have been paid by the seller and may not be reflected in the sale price.

These figures come from the Triangle MLS.

If you have any questions about these stats or would like to get some more information about this neighborhood or any other neighborhood in Clayton, please send me an e-mail to odohertyd@hpw.com or visit my website.

Davidorealtor.com