Market Report - Raleigh NC

Chatham County New Home Listings Down 23% to Last Year

New Homes Under $300K Show Biggest Drop

Looking for a new home in the Raleigh area? Thinking the choices have gotten a little thinner? You're right....

New Home inventory in Chatham County NC was down 23% in November 2009 versus November 2008.

In September 2009, new home inventory was only down 16% to the same period in 2008.

Chatham County, which includes areas around Jordan Lake, south of Chapel Hill, Pittsboro, and Siler City, has been lauded for rolling, wooded hills and unspoiled terrain.

New Home Listings by Price Point in Chatham County NC

Chatham County saw some shifts in new home inventory levels. Some price points saw more inventory, while others saw decreased inventory.

• New homes in Chatham County under $300K reduced from 33 listings last year to only 16 listings this year, a 52% reduction in new homes at this price point.
• New homes in Chatham County from $300K to $399K decreased 30%, from 27 listings in November 2008 to only 19 listings in November 2009.
• Chatham County new homes in the $400-499K price point saw the only single family home increase, from 26 to 31 homes.

There have still been a significant number of sales in these price points - the increased inventory at these levels may be partially reflecting an increased demand.

Overall New Home Listings in Chatham County NC November 2009

In November 2008, there were 217 new homes listed in Chatham County NC.

In November 2009, there were only 168 new homes listed in Chatham County NC. Some of these new homes may be just beginning construction, or may be home and land presale packages - the number of completed new homes is much lower.

New Home Showings in Chatham County November 2009

New home showings in November were UP 20% versus September. This is a time of year that we usually see decreased showings. Compare With Other Areas of the Triangle

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Chatham County NC New Home Communities, Lots and Land

5 Easy Steps to Buying a Lot or Land in the Raleigh Area

Other Available Land and Lots in Communities

Triangle Custom Home Builder Stanton Homes now offers

Single Story Homes on Acreage at Horizon

Artist Rendition-Copyright Frank Betz & Associates Chadwick Elevation Pictured, Subject to Change at Builder Discretion.

Raleigh Custom Home Builder Stanton Homes is excited to announce our collection of 10 exciting new one story floor plans, designed by Frank Betz & Associates, available in gorgeous Chatham County at Horizon.

These home plans offer sweeping, contemporary roof lines and classic exteriors, as well as all the wonderful amenities that Stanton Homes is known for, in single story modern bungalow style plans.

From our signature elliptical and radius archways to our exquisite master suites, these new single story homes will delight you with so many exceptional details - all included in the price.

With solid hardwood floors, custom tile floors, extensive tile bathrooms, and 9 foot ceilings - plus soaring, vaulted ceilings in the family, great, or living rooms - Stanton Homes always feel spacious and welcoming.

As always, the master suites are especially pleasing. All have vaulted master bathrooms, with custom tile floor, soaking tub with custom tile surround, separate custom tile shower with glass enclosure, and dual vanities. All master bedrooms include a detailed trey ceiling and extensive, two-piece crown moulding. Some even have private sitting rooms!

Chadwick Floor Plan - Copyright Frank Betz & Associates - Subject to Change at Builder Discretion

Other Available Floor Plans - One Story Homes in the Raleigh NC Area

If you're looking for a ranch or bungalow style home, with custom amenities and incredible details, look no further. Single story "rancher" homes start in the low $300s.

As a custom home builder, Stanton Homes can make any of these one story homes even more perfect for you.

We can extend rooms, add bay windows, change closet configurations, make laundry rooms larger, add built-in bookcases, and much more, depending on the home plan.

Oxnard Elevation - Copyright Frank Betz & Associates - Subject to Change at Builder Discretion

Some homes also offer optional second floor bonus rooms, which can be finished or unfinished.

Offered on acreage in Horizon, these bungalow and ranch style homes can be built on any of your choice of over a dozen lots, all with wooded acreage.

Choose a home plan and style today.

Want plenty of trees screening the front of your home? Or a huge front lawn? We can place your new home exactly where you want it on your wooded homesite - ask for more information.

Horizon is in beautiful Chatham County, just 7 minutes south of Chapel Hill.

Close to the Haw River, Jordan Lake, five golf courses, and more, Horizon is just 5 minutes from shopping, and within easy driving distance of Raleigh, Chapel Hill, Apex, and all the Triangle has to offer.

To find out more about countryside living on your own land in a gorgeous custom Stanton Home, request more information.

You may also be interested in:

Additional Chatham County New Homes, Lots, and Land

5 Easy Steps to Buying a Lot or Land in the Raleigh Area

Other Available Land and Lots in Communities

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Market Report - Raleigh NC

Chatham County New Home Listings Down 16%

New Homes Under $300K Show Biggest Drop

Looking for a new home in the Raleigh area? Thinking the choices have gotten a little thinner? You're right....

New Home inventory in Chatham County NC was down 16% in third quarter 2009 versus third quarter 2008. Chatham County, which includes areas around Jordan Lake, south of Chapel Hill, Pittsboro, and Siler City, has been lauded for rolling, wooded hills and unspoiled terrain.

New Home Listings by Price Point in Chatham County NC

Chatham County saw some shifts in new home inventory levels. Some price points saw more inventory, while others saw decreased inventory.

• New homes in Chatham County under $300K reduced from 33 listings last year to only 18 listings this year, a 55% reduction in new homes at this price point.
• New homes in Chatham County from $300K to $499K increased from 38 listings last year to 51 listings this year. There have still been a significant number of sales in these price points - the increased inventory at these levels may be partially reflecting an increased demand.

Overall New Home Listings in Chatham County NC Third Quarter

In third quarter 2008, there were 207 new homes listed in Chatham County NC.

In third quarter 2009, there were only 174 new homes listed in Chatham County NC.

Compare With Other Areas of the Triangle

Looking for more information on new homes in the Chatham County/Jordan Lake area?

Sign up for our monthly newsletter for more information on the top places to move in the Triangle, market trends, new home ideas, and more.

Chatham County NC New Home Communities, Lots and Land

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Other Available Land and Lots in Communities

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Geothermal Systems - How Tax Credits Have Made Them Affordable

We get many questions on geothermal systems, particularly from homebuyers interested in a greener approach to their new home. Top questions include affordability and steps to installation for a geothermal system.

How Much Does a Geothermal System Cost?

A geothermal heating and cooling system in the Triangle area generally starts at about $8,000 per ton, installed. This compares to a cost of about $2,000 per ton for a traditional HVAC system.

Example Geothermal System

Just to make the numbers easy, let's look at a 3000 sq ft home. A 3000 sq ft home generally requires about a 5 ton system.

Traditional HVAC system -

5 tons at $2,000 each

$10,000 for total system - Traditional HVAC

Geothermal Heating and Cooling system -

5 tons at $8,000 each

$40,000 for total system - Geothermal Heating and Cooling

Geothermal Tax Credits

Ok, now we get to look at the tax credits. Remember, you'll want to consult a tax professional, and you will have to wait to get "refunded" for the tax credits. But the savings can be significant.

Federal Geothermal Tax Credit

30% of the cost of the Geothermal System, or $12,000 credit.

North Carolina State Geothermal Tax Credit

35% of the cost of the Geothermal System (with a cap of $8400) - $8,400 credit

Progress Energy Credit

$1200 credit

Cost of Geothermal after credits:

Original price tag = $40,000

- $12,000 Federal Tax Credit

- $8400 North Carolina State Tax Credit

- $1200 Progress Energy Credit

= $18,400 total cost.

Thus after credits, the cost is much closer to a traditional HVAC system. On average, a geothermal system saves 35% on energy costs for COOLING your home versus a standard HVAC system, and 70% on energy costs for HEATING your home versus a standard HVAC system.

Geothermal can be a great part of building green. Again, you'll want to talk with your tax professionals about how the tax credits work, but these credits have made a significant difference this year in the total cost of a geothermal system.

You may also be interested in these popular green building topics:

Green Home Building in the Triangle

What is a Green Home?

What Is Geothermal? Geothermal News and Information

Passive Solar Homes and Ideas