Watch our very own Carl Johnson singing the national anthem a cappella at the Durham Regional Association of Realtors® 100 Year Inaugural Holiday Luncheon Installation of 2022 Officers & Directors, Thursday November 18 2022 at the Hope Valley Country Club.
Click here to learn more about Durham
Are you not approved to buy a home before you sell your home? We can help.
Carl just had the opportunity to assist a seller that was not approved to buy their new home prior to selling their current home. Carl was still able to get the sellers house under contract and place a new home under contract with no contingencies for selling their current home. The sellers home closed and then the client closed on their new home.
In this competitive sellers market it is challenging to navigate the waters. Carl will assist you with reaching your Real Estate goals. His many tools position you as the client in a place of strength in this market. Call Carl 919-880-0904 and let him know your challenge in Real Estate.
Click here to learn more about why NOW is the time to sell.
Per the October report from Triangle MLS:
"The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation. As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of REALTORS®. With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take advantage of what are still historically low rates."
In Chatham County, there was a 13.5% percent decrease in new listings in October. Year to date, the number of closed sales decreased from 1,467 to 1,458, a 0.6 percent decrease compared to 2020. Median sales prices increased by 16.7 percent. In October, Chatham County median sales price was comparable to the median sales price for all MLS listings.
In Durham County, closed sales have increased 3.0 percent year to date. Median sales price has increased 18.0 percent from this time last year, moving from $288,000 to $339,900. Average sales price increased by 18.8% year to date. In October, the Durham County median sales price was higher compared to the median sales price of all MLS listings.
The number of listings in Orange County has increased by 6.6 percent. There was a 7.9 percent increase in closed sales year to date. Additionally, median sales price increased by 26.2 percent, from $325,000 to $409,900. In October, Orange County median sales price greatly exceeded the median sales price for all MLS listings.
The number of listings in Person County has increased by 7.7 percent, from 405 new listings year to date last year to 436 new listings this year. There was a 8.9 percent increase in closed sales. Additionally, median sales price increased by 11.0 percent, from $193,750 to $215,000. In October, Person County median sales price was far below the median sales price for all MLS listings.
In Wake County, there was a decrease of 4.5 percent in the number of new listings year to date compared to last year. The number of closed sales increased 0.5 percent from 19,005 to 19,096. Median sales prices also increased by 16.4 percent year to date, rising to $390,000. Compared to the median sales price for all MLS listings, Wake County median sales price were on par for October.
Click here to learn more about Central Durham neighborhoods.
Now is a great time to prepare and consider selling your home. If not in Nov & Dec 2021, consider early January 2022.
New construction has been steadily rising throughout the year, as noted in this National Association of REALTORS® article by Dr. Lawrence Yun, Chief Economist for the National Association of REALTORS®. Dr. Yun points out that while these new construction homes aren't geared towards first time buyers due to their larger size and higher price, they will appeal to "trade-up" buyers, increasing available inventory.
The News and Observer points out that this trend in new housing has already been noticed in the Triangle, particularly southwest and west Wake County. Interest rates are predicted to rise, reaching as high as 3.5% through the end of 2022 according to Realtor.com.
Good news for sellers however! This article also points out that we are likely to continue to see an upwards trend in housing prices due to new large-scale companies move to the area. If you are interested in what companies are coming, click here for more info.
All in all, inventory is increasing, if you want to take advantage of the market, sell now!
Call Carl today for YOUR custom marketing plan.
Carl will make your listing stand out in the crowd
Call Carl 919 - 880 - 0904
Our daily use of technology allows us to stay in touch with people across the world. It may be hard to think of ways to show our appreciation when we aren't in person. The article below gives you some ideas on how to express your gratitude in a digital age:
Interested in upgrading your bathroom or kitchen? Click here to help determine which would be best for you.
As the holiday season approaches, gratitude becomes front and center in our minds, allowing us to focus on what we have instead of what we lack. Take some time to appreciate those around you with some of the tips below:
Click here for some ideas about taking some time away from your digital devices with a detox.
Per the September report from Triangle MLS:
"Nationwide, existing home sales were down slightly in August, falling 2% after two consecutive months of increases, according to the National Association of REALTORS®. The decline in existing home sales coincides with rising sales prices, which have continued to soar into fall, with the median sales price of existing homes up 14.9% compared to last year. Declining affordability has had a significant impact on homebuyers, many of whom have been priced out of the market and are choosing to wait for sales prices to ease before resuming their home search."
In Chatham County, there was a 21.1% percent increase in new listings in September. The number of closed sales increased from 1,062 to 1,185, a 16.3 percent increase. Median sales prices also increased by 16.3 percent. In September, Chatham County median sales price was slightly above the median sales price for all MLS listings.
In Durham County, closed sales have increased 4.6 percent year to date. Median sales price has increased 16.8 percent from this time last year, moving from $286,908 to $335,000. Average sales price increased by 18.7% year to date. In September, the Durham County median sales price was higher compared to the median sales price of all MLS listings.
The number of listings in Orange County has increased by 10.1 percent, from 1,647 new listings year to date last year to 1,814 new listings this year. There was a 9.0 percent increase in closed sales. Additionally, median sales price increased by 26.2 percent, from $325,000 to $410,000. In September, Orange County median sales price greatly exceeded the median sales price for all MLS listings.
The number of listings in Person County has increased by 11.4 percent, from 359 new listings year to date last year to 400 new listings this year. There was a 13.5 percent increase in closed sales. Additionally, median sales price increased by 10.3 percent, from $195,000 to $215,000. In September, Person County median sales price was far below the median sales price for all MLS listings.
In Wake County, there was a decrease of 4.0 percent in the number of new listings year to date compared to last year. The number of closed sales increased 1.6 percent from 16,868 to 17,145. Median sales prices also increased by 15.2 percent year to date, rising to $386,000. Compared to the median sales price for all MLS listings, Wake County median sales price were on par for September.
If you are considering upgrading your bathroom or kitchen, use these questions to help guide you!
It can be hard to live in the moment and concentrate on the tasks at hand when your mind will not quiet down. If you feel like you're experiencing information overload and you can't switch off, you are not alone! Learn how to find relief from your thoughts and promote positive ways of thinking with the information below:
Learn more about what companies are calling the Triangle "home" by clicking here.
For most of us, being connected to our phones and computer is an essential part of our life. Whether it be for work or for communicating with friends and family, it can be stressful to be constantly connected. Learn some of the benefits of temporarily forgoing your digital devices and a plan on how to do so below:
Looking for a new adventure while you take a break from screen time? Click here to check out some of the new RTP has to offer.
Original content by Carl Johnson
As a Durham local since 1991 & the person that literally ran out the door and started Durham Magazine, for the owners of the magazine, I was in the Triangle before I-40 connected to Wilmington. When I was living in Chatham Co and Carrboro is when our communities connected from the Triangle to the Coast. With that said, I am your go-to expert when it comes to all things real estate in the RTP area. With so much growth and development happening in the Triangle, now’s the perfect time to settle down in one of Durham’s top communities. In this multi-part blog series, I’ll be highlighting a sampling of neighborhoods throughout Durham, starting with North Durham.
North Durham is the perfect area for outdoor lovers. It contains the most rural space in the Durham area and can offer buyers more spacious lot sizes that provide enough acreage to spread out or even maintain a small agribusiness. There are a variety of existing homes and new constructions located here as well as a handful of things to do nearby including visiting the Duke Homestead and Tobacco Museum, or Stagville State Historical Site, exploring the Eno River State Park, Little River Regional Park, and Whipporwill Park, or playing golf on the Treyburn Golf Course.
If you are interested in moving to the North Durham area, I recommend these neighborhoods:
Developed in the early 2000s, Horton Hills is a popular neighborhood with homes that are typically 3-4 bedrooms and between 1300 and 2400 square feet. Less than 10 minutes away from the Eno River State Park and 15 minutes away from downtown Durham, it’s the perfect location if you’re looking for a quieter area to live.
The Treyburn community was started in 1982 and is an award-winning luxury community that was voted in the 2015 Durham Magazine as the “Best neighborhood in Durham.” Surrounded by 1,600 acres of preserved woodlands and home to the Treyburn Country Club that includes a golf course, swimming pool, and tennis facilities, Treyburn is perfect for those looking for a luxury outdoor community to reside. A major plus for families living here is the conveniently located elementary and middle schools located in the neighborhood!
Eno Commons is a 22 household community that blends together privacy and community. As stated on their community website, Eno Commons is “a park-like neighborhood perfect for walking, with organic gardens, mature trees, a field for sports, and a woodland creek leading to the Eno River. People of all ages and abilities are welcome to this 11.2-acre community that offers a “semi-rural feeling” only minutes from downtown.
The development of the Croasdaile Farm community was approved in 1987. Now, the property contains over 400 homes, 260 apartments, and over 50 luxury townhomes. With the distinct Durham skyline in the distance and 1000+ acres of lush forest and meadows, four miles of walking trails, and three ponds, Croasdaile is a luxury escape conveniently located near the city. Croasdaile Country Club features a golf course and other amenities.
Willowhaven is an established country club community located off Umstead Road. With a lake, walking trails, and a golf course and pool located at the Umstead Pines Golf and Swim facility, this neighborhood affords plenty of natural areas for residents looking to embrace the outdoors.
Aside from these five neighborhoods, North Durham is home to plenty of other amazing communities such as Duke Homestead, Lattamoor, Stadium Heights, Omah Street, and Lochaven Hills.
If you are looking to buy a home in the Durham area, let me help you! Please reach out with any questions at (919) 880-0904! To learn more about the Durham area, click here.
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