Research Triangle Park, NC

Home sales for 2009 in the Research Triangle Park area of NC through September still trail prior year sales, but the level of decline is lessening, offering some hope that the local market is coming out of a two year period of negative period over period sales. In the third quarter, sales in Wake, Durham, and Orange counties, the three main counties making up the Triangle were down 9.3% when compared to 2008.

Compared to previous quarters this is a significant improvement. September sales in the Triangle area declined only 7.5% versus September 2008, actually showing a month over same month 2008 improvement in Orange County (Chapel Hill). YTD through three quarters sales are still down over 20%, however. Durham County was holding up the best through 3 quarters with closings for the year down 16.5%. Wake County (Raleigh, Cary, Apex) was down 22.8% and Orange County (Chapel Hill) was down 21.2% .

Despite the slowdown in sales, the average price of homes sold had held up reasonably well in contrast to some other areas of the country. With the continued slowdown, however, home prices are showing some strain (see chart below) particularly in Wake County. (Source-Triangle Multiple Listing Service)

2009 Average Sold Home prices by County (City) through September compared to 1st nine months 2008

Durham (Durham)- $199,009 up 0.3%
Wake (Raleigh/Cary)- $244,227 down 7.8%
Orange (Chapel Hill)- $322,836 down 0.8%

2008 Calendar Year Average prices for homes sold

Durham (Durham)- $196,259
Wake (Raleigh/Cary)- $264,976
Orange (Chapel Hill)- $322,477

Compare to average prices of homes sold in each county in 2007

Durham (Durham)- $198,452
Wake (Raleigh,Cary) $263,342
Orange (Chapel Hill) $342,740

For more information on on the status of the real estate market in areas surrounding Research Triangle Park, including Durham, Chapel Hill, Raleigh, Cary, Apex, Hillsborough and Pittsboro, please contact Larry Pulley at 919-604-0189 or email larry@larrypulley.com.

The newley formed Triangle Staging & Design, founded by Michele Kurelich  and Janine Varney  would like everyone to join us in welcoming Honey Johnson and Susan Lindelof of Stunning Solutions.  We have worked with these talented ladies for years and are proud to have such talent, creativity and passion for staging Raleigh Real Estate be a part of our team.  

Clients are "wowed" by thier creative insight and practical solutions to their presentation dilemmas.  In fact, for most of 2008 they sold properties in their portfolio only averaged 15 days on the market! Agents who partner with Honey & Susan to perform Walk & Talk Consultations and Full Service Stagings, know that they can focus on their main job - selling!   Check out Honey & Susan's Lastest staged property:

Honey & Susan staged this beautiful executive ranch in Durham's coveted Hope Valley neighborhood.

What is so amazing about this property is the floor plan and architectural details. The house itself is laid out like a square with wide gallery style hallways and huge rooms.  And tucked away, inside the brick walls are two secret courtyards.  One is a brick floored sitting room with an open roof that is reminiscent of Charleston, SC.  It can be accessed on three sides by doors to the Family Room, Dining Room, and Entry Hall.  The second is the most perfect and intimate hide-away Jacuzzi room.  It is accessed by both the Master Bath and Master Library.  This "room" has the appearance of a glass topped roof, but is actually open to the night sky making it feel that much more special.

Crown moldings, custom door and doorway, unique granite countertops, modern fixtures, classic hardwood floors, and windows galore make this a magnificent executive home.  This golf course home is 3236 square feet with 3 bedrooms and 4 full baths. And did I mention that the kitchen was totally remodeled by one of Durham's finest chefs? 

Honey & Susan did a spectacular job for their first project as the newest members of Triangle Staging & Design

  Click here to read more about TSD

Raleigh's Professional Home Staging Company, Triangle  Staging & Design can assist you will all your home staging, re-design or design needs.   Whether new construction, vacant or occupied, we have the experience, expertise and resources to showcase your home.   Visit our website at  http://www.TriangleStaging.com

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