Local News

Real Estate Market Remains Hot in Raleigh

Posted March 5, 2007

— The housing market is one major indicator of how stable the overall economy is. For Raleigh, it seems that the economy is still strong.

Despite a nationwide slump in home sales, Raleigh started the New Year with solid growth throughout Wake County.

Across the country, the median home price averages $210,600. In Raleigh, buyers can expect to pay more, with an average price of $242,275.

However, with many buyers moving from major metropolitan cities where they’re used to higher prices, Realtors in the Triangle told WRAL they’re pleased with what they’re hearing from their clients.

Nationwide, home sales are reflecting a slowing trend of home sales nationwide, with sale prices down three percent from last year. In Las Vegas, the median home price went down more than $30,000 -- a drop of almost 10 percent from 2006.

Figures are similar in Miami, Los Angeles, Washington D.C. and New York, but are higher in the southern United States. Dallas leads the country with a 6.5 percent increase in home prices. Raleigh has continued to see a five to 10 percent increase from 2006, real estate experts said.


Please with your WRAL.com account to comment on this story. You also will need a Facebook account to comment.

Oldest First
View all
  • hollywood Mar 6, 2007

    Yea Jimlu....didn't Orange County just have a school shooting?! They don't even come near the size of Wake County Schools and they have students shooting each other up. I don't think I will be sending my kids there to be shot to death!

  • twright530 Mar 6, 2007

    Hillary Clinton would say she used to sell real estate in college. But not during her time at the Rose law firm.

  • 68_polara Mar 6, 2007

    It seems as though home prices continue to increase out of control but wages are not even close to keeping pace. How do people afford these homes? I wonder where state employees live because you know they aren't buying 200,000 dollar homes.

  • jimlu Mar 6, 2007

    Chapel/Hill Carrboro schools are ranked in the Top 30 nationally, while Wake County is on the slide... look for Orange County property prices to double in the next 10 years (esp. once Carolina North construction starts...).

  • Forgetaboutit Mar 6, 2007

    The sky is falling and the end is near...please!

  • The Oracle Mar 6, 2007

    You're right on the money, lucky. The Beatles wrote that places
    chaged "forever, not for better".

  • hollywood Mar 6, 2007

    For you that are complaining about the schools, the grass is not always greener on the other side. Some of our friends that live in Franklin and Granville County are moving to Wake County just for better schools. Check out the test scores, you will see that Wake County Schools are by far the best. My children may get reassigned but as long as they are getting a great education and the schools are preparing them for college, than that is all that matters! Plus I have not heard about any school shootings in Wake County so safety is not a concern for our children.

  • lucky22 Mar 6, 2007

    I have lived in Raleigh since the 70's. The growth was out of control 10 years ago. There will not be any green space left. I hate to think of what is going to happen the the Dorthea Dix property. It's all about build, build build. Developer's are not satisfied until we look like Atlanta. What a shame. Raleigh City Council should get off theri duff's and do something about it. But I have no faith in them. The wildlife will be left with no place to go.

  • Wizard Mar 6, 2007

    Just a few years ago I was saying "car prices are more than my first house" ! I won't have to concern myself by saying that anymore!
    Born and raised in Raleigh, I can't help but notice how we fail to learn from the past. For,instance in the 60's the rage and trend was total electric living and builders featured "Gold Medallion Homes". The 70's brought the fuel crisis and high electric bills. $60,000 bought a lot more than a 2 bedroom starter home.
    Now with price tags flirting with $250,000 you'd think we'd have learned from the past and steer construction in the direction of solid construction. Homes that will still have a roof after a gust of wind sweeps over it. Homes constructed with material that would retard fire to some degree either by design or environmental intergrating.
    Perhaps we'd have learned that stripping away all the trees for the construction of a home will only require that new trees will have to be planted to replace the mature trees that were stripped!

  • JimmyJay Mar 5, 2007

    It seems these first 4 postings smell of sour grapes. If you don't like it here, then PLEASE MOVE!!! I've lived here for almost 25 years and have seen many changes...most of them good. It's people like you that gives this place a bad name.