Durham & Chapel Hill Real Estate Market Updates - Spring 2016
Posted by Andrew Palumbo on
So here we are again at the beginning of another spring market in the Durham/Chapel Hill area. The azalea's are in bloom, despite abnormally low temperatures, and things are looking beautiful. It's a great time to go out and start your home search, or is it?
Over the last few years the real estate market in our area has gotten tougher and tougher for buyers in Durham and Chapel Hill. We are seeing very little inventory and prices are going up up up. For example, in Orange County, year over year, the median sales price is up 34.8% and inventory is sitting at a 4 month supply, where 6 months is considered a balanced market. Durham county is up 17.1 % and inventory is sitting at a staggering low of 1.9 months of supply. So some buyers are asking…
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“Why do I need to get Pre-Approved?” is a question we get asked almost every day at My NC Homes when we speak with perspective home buyers. Some tell us "I went online and know I’m qualified". While that might be the case, it's important to understand the differences between Pre-Qualification and Pre-Approval when it comes to the mortgage process.
Spring is in the air. It’s time for a little spring cleaning to set the stage for summer. This is the perfect time to spruce up the landscaping. Here is a list to get you started.
as the fuel for the furnace. This heating oil was usually stored in underground storage tanks (USTs) near the homes. Oil trucks would come to the homes and top off the USTs periodically during the winter months.
Located just 25 miles south of the Virginia border sits the Bull City; Durham North Carolina. Although small in land mass, Durham is the fourth largest city in state. It has big-city amenities even though it has a small-town feel. Durham is a racially diverse city. Of the approximately 252,000 residents, about 42% are white, 40% are black and the rest are other races.
Ask anyone from the Raleigh-Durham area and they’ll be happy to tell you what they love about living here, but a new survey has just been released that confirms what many living here already know: that the Raleigh-Durham area is one of the best places in the entire nation to live. In fact, it has officially been voted as the 4th Best Place To Live in the U.S., according to U.S. News & World Report.
The Town of Cary is a community of more than 155,000 residents. Located between Raleigh and Research Triangle Park, the town is conveniently located, with Raleigh, Durham, Chapel Hill, and the Raleigh Durham airport all nearby. Duke University and UNC Chapel Hill are less than 20 minutes away.
has grown steadily during the past 60 years to a population of over 20,000 due to its proximity to the University of North Carolina and the growth of area businesses. The residents are primarily white-collar workers. Most of the residents are professionals, managers, service providers, scientists, and teachers.