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Tracy Santrock-Cary NC Real Estate Realtor

Fall Scene at Bond Park in Cary this morning!!

Bond Park in Cary NC

What a beautiful scene this morning in Bond Park in Cary, NC. I grew up in Texas and truly didn't appreciate the four seasons. Fall in the Triangle area is one of the most beautiful times of the year. The leaves are falling and there is plenty to do at one of the many parks and trails surrounding the Raleigh Cary area. I live less than a mile from Bond Park in Cary, NC so I try to make the most of my visits when the weather is cooler and the leaves are turning!

Have fun on this Wordless Wednesday!

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La Farm Bakery & Cafe in Cary - A truly authentic French Cafe

 

Last year I moved from Apex to a great new location in Cary NC. One of the things I love about where I live now is the proximity to great restaurants, shops, and other local businesses. 

One of my favorite treats is the addition of the café to La Farm Bakery in Cary.  In the past La Farm has cooked up the best French bread in Cary bar none!!! The proprietors, Missy & Lionel Vatinet, have had the long-term vision of expanding the Bakery and operating an authentic French Café which they did earlier this year.   There are so many things to cherish at La Farm including their signature sourdough whole grain bread, classic baguettes, pastries, fresh homemade granola, and much more.  There are usually samples available when you enter.   My favorite during lunch are the freshly made Tartines .   I also enjoy going for brunch on Sunday before heading out with clients. 

Another Hidden Triangle Gem

 

Mauro and I are big fans of the European dining experience which has truly been captured at La Farm Bakery & Café.  So, if you're out and about and want a real treat choose La Farm Bakery & Café in Cary! 

 

Cary NC Luxury Market Report -2009 YTD

I'm in the process of putting together some detailed information for my neighborhood newsletter and I thought this would be a good opportunity to discuss the Cary NC Luxury Real Estate market in 2009. I'm asked on a regular basis how the market is holding up in our area and the answer can be quite different depending on the price points. The Cary NC Real Estate market has held up quite well relative to the rest of the country. In fact, the Raleigh Cary MSA is regularly touted as one of the top 2 strongest in the country along with Austin TX.

The one recurring theme that I've noticed with listing and selling homes in this price range in Cary is that, although the numbers are still strong for sales above $500k, new construction seems to be garnering a large proportion of the luxury home segment. Year-to-date in Cary there have been 151 home sales for detached homes above $500k, 91 of those homes (60%) were new construction.

The Triangle Real Estate Market is off close to 40% this year from last year so I thought it also might be interesting to analyze how the Cary NC Luxury Real Estate market's sales are in 2009 vs. 2008. As I mentioned above there have been 151 luxury home sales in Cary in 2009 YTD so I also wanted to pull the details on the Luxury Home Sales from 1/1/2008 -9/19/08. There were 238 in 2008, which represents a 36% decline. The logical conclusion is that Cary Luxury Home Sales are holding up quite well.

In Cary there are a couple of other elements at play which I have mentioned in previous reports. In the past homes in established neighborhoods like MacGregor Downs and Preston sold incredibly well because the neighborhoods were well established and had golf course views lending homebuyers the highly desired country club lifestyle. Another trend that is blindingly clear - builders are no longer are no longer touting the phrase "build it and they will come". Custom Builders in this area have taken a beating and overbuilt for the growth. We are slowly churning through the existing specs which will soon be gone. As a result, builders will not be doing the wheeling and dealing we have seen in the area this years on the existing homes.

For the sake of this analysis I'm going to break down the homes into four price points:

  • $500,000-$700,000
  • $700,000-$800,000
  • $800,000-$1M
  • $1M-$2M+ and $2M+

All figures are bases on numbers pulled today September 19th and are from the Triangle MLS:

Cary NC Luxury Home Market

Here are a few observations that relate back to my comments above:

  • The average price/square foot for Cary's Luxury homes is $150/square foot and $170/square foot above $700k which is quite lower than laste years $197/square foot but sill less expensive than homes in other popular Luxury Home communities in the Triangle
  • Top Selling established neighborhoods include Preston w/12 Sales, MacGregor with 6 Sales, Lochmere w/5 sales, and Wyndfall w/6.
  • New construction neighborhoods selling briskly include Copperleaf, Southbridge at Cary Park, Hillard Forest, and Green Level Crossing
  • In the $700k-$800k price range there are 5 pending, 2 in Lochmere, 2 in Wyndfall, and my listing in Glenkirk.
  • In 2008 there were 17 homes that sold between $1M-$2M. This year there have been 24, however only 1 resale in this price range.
  • Last year there were 28 homes on the market over $1M. Today there are just 12 and no increase in sales which indicates a number of sellers have taken their homes off the market until the market improves.
  • Supply on Market climbs as the price point increases.

If you have any questions regarding this report or would like more information on the Cary NC Luxury Home Market please feel free to email me or visit my website for more information.

For more information:

2008 Cary NC Luxury Home Market Report

New Changes Proposed for the Busiest Intersection in Cary

Cary Parkway & High House in Cary

Most of you know that I live right off of Cary Parkway. Right down the street from my home is one of the busiest intersections in the Town of Cary at High House and Cary Parkway. That said, this intersection has also been the cause for concern:

  • It has the highest rate of accidents for all of Cary Pkwy
  • The accident rate is 2x the state average
  • There were 67 accidents at the intersection between 2005 and 2008, almost half involved left turns
  • Based on 2020 traffic projections, the intersection will have something on the order of an 8 minute wait time during peak hours

The Town if trying to determine a better way to route the traffic in order to reduce accidents and eliminate wait time. The current idea on the table seems propostorous in my opionion. Basically, the idea would be to use the Jersey Mike's parking lot access road to divert traffic.

Propsed Solution

I personally think this solution would detract from the overall appearance of the Town of Cary just to eliminate a "cheap" solution to the problem.

On the other hand, I like the idea of traffic circles. What do you think the Town of Cary should do about the bottleneck at High House/Cary Parkway?

Changes to Morrisville Carpenter Begin This Saturday April 25th

Intersection of Morrisville Carpenter and HWY 54Have you ever been stuck in traffic at the bottleneck at Morrisville Carpenter and HWY 54 in Morrisville? I know I have many times over the past 10 years. However, the long awaited $3.4 Million expansion has finally arrived. Beginning Saturday April 25th Morrisville Carpenter Road will be closed from Church Street to NC 54 from four to six weeks to finalize the expansion. It certainly will cause numerous traffic problems around the area until the expansion is complete. However, the expansion has been long overdue.

Even though these roads are owned by the State, the Town of Morrisville passed the bond due to the importance of this heavily traveled corridor.

Click here to see a map of the planned changes. Click here for a detour map. The road expansions throughout Cary and Morrisville have made a big change to the traffic flow and this expansion will also make a big difference.

Related Post:

Town of Cary Expansion Update