August 31, 2007
Condo/Townhouse Top-Selling Developments
According to the T.A.R.R Report for the second quarter of 2007, the 10 top-selling developments in the Triangle for Condos/Townhouses were:
Hedingham (78 closings)
Glenwood North (63)
Bedford @ Falls River (60)
Woodcroft (58)
Kildaire Farms (57)
Stonehenge (56)
Wakefield (54)
Brier Creek (45)
Harrington Pointe (39)
Alexander Place (38)
August 28, 2007
Interest Rates
Wake County June 2007 Interest Rates (national averages):
30 year fixed rate mortgage: 6.65%, compared to 5.8% in April 2007
15 year fixed rate mortgage: 6.31%, compared to 5.55% in April 2007
(source: Triangle Area Residential Realty (T.A.R.R.) Report)
August 23, 2007
Cary Festival This Saturday
31st Annual Lazy Daze Arts & Crafts Festival
Saturday, August 25, 2007
9 a.m. - 5 p.m.
Downtown Cary
"Over the past 30 years, the Lazy Daze Arts & Crafts Festival has become one of the South's premier festivals. On the fourth Saturday in August, an estimated 60,000 people gather in downtown Cary for the best in arts and crafts, food, and entertainment." ~Town of Cary
Learn more about Lazy Daze
Saturday, August 25, 2007
9 a.m. - 5 p.m.
Downtown Cary
"Over the past 30 years, the Lazy Daze Arts & Crafts Festival has become one of the South's premier festivals. On the fourth Saturday in August, an estimated 60,000 people gather in downtown Cary for the best in arts and crafts, food, and entertainment." ~Town of Cary
Learn more about Lazy Daze
August 22, 2007
Life of Luxury
Did you know that the Cary/Apex/Morrisville area holds the highest market share of luxury homes in the Triangle, at 20.6%? Luxury homes are defined as residential homes priced at $500,000 or more.
(source: Triangle Area Residential Realty (T.A.R.R.) Report)
(source: Triangle Area Residential Realty (T.A.R.R.) Report)
August 20, 2007
Seller's Market?
Are there any segments which would be classified as a seller's market?
The Triangle Area Residential Realty (T.A.R.R.) Report states that:
The Triangle Area Residential Realty (T.A.R.R.) Report states that:
"Detached housing priced below $300,000 in
[Apex/Cary/Morrisville] continues to be in short supply. This will
continue into the future due to the rising costs seen in land
acquisition and development."
August 17, 2007
Luxury Homes in the Triangle
According to the Triangle Area Residential Realty (T.A.R.R.) Report, the average house in the Triangle sells for 98.69% of the final list price. The average luxury home (residential home priced at $500,000 or above), sells for 97.13% of final list price. The average luxury re-sale sells for 95.71% of original list price.
August 16, 2007
Top Selling Developments
In the past 13 months, the top 10 selling developments with re-sale housing in the Cary/Apex/Morrisville area were:
Kildaire Farms (191 closings)
Brier Creek (140)
Preston (132)
Breckenridge (112)
Trailwoods (105)
Scotts Mill (102)
Lochmere (96)
Cary Park (72)
Carpenter Village (68)
Regency Park (63)
(source: Triangle Area Residential Realty (T.A.R.R.) Report)
August 15, 2007
Second Quarter Real Estate Statistics
According to the Triangle Area Residential Realty (T.A.R.R) Report for the second quarter of 2007, the market indicators for homes in Cary were:
Average Sales Price: ~$300,000
Number of Closings: ~550
Average Days on the Market: 49
