Market Report - Raleigh NC
East Wake County New Home Listings Down 40%
New Homes Under $200K 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 East Wake County NC was down 39% in third quarter 2009 versus third quarter 2008. East Wake County, which includes Wendell, Knightdale, and Zebulon, is one of the most affordable parts of Wake County.
New Home Listings by Price Point in East Wake County NC
There were fewer new home listings in East Wake County NC in every price point. Townhouses are the only category that has seen an increase in number of listings.
- New homes above $400K reduced from 32 listings last year to only 12 listings this year, a 64% reduction in new homes at this price point.
- Available inventory in the $300-399K point in East Wake County was down 65%, from 51 to 18 new home listings.
- Available inventory in the $199K and below point in Knightdale/East Wake County area was down significantly as well - from 53 to 32 new home listings.
Overall New Home Listings in East Wake County NC Third Quarter
In third quarter 2008, there were 194 new homes listed in East Wake County NC.
In third quarter 2009, there were only 118 new homes listed in East Wake County NC.
Builders are building fewer "speculative" homes, and more home buyers are opting for completely custom packages, in every price point (which means the homes are not listed, but completed to the buyers exact specifications).
What Price Points are getting the most showings in East Wake County?
If you're looking to purchase in these price points, you'll have more competition for your new home.
Which price points are most popular in East Wake County?
- East Wake County new homes in the $150-199K price range saw the most showings in September 2009.
- East Wake County new homes in the $500-599K price range saw FOUR TIMES the average number of showings per listing.
- East Wake County new homes in the $300-399K price range saw almost twice the average number of showings per listing.
Compare With Other Areas of the Triangle
Looking for more information on new homes in the East Wake County/Raleigh area?
Wendell NC New Home Communities, Lots and Land
Knightdale 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
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Finding Your New Home in the Raleigh Area
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Call 919-278-8070 or visit www.StantonHomes.com to find out more about new homes in the Raleigh area today.
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Article copyright Stanton Homes 2010. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements. Please note: all listing information per MLS, and current as of posting date. Information subject to change. Stanton Homes does not make claims to ownership of above lot listings, but can work with homebuyers to purchase lots and build. Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions. Ask for further information regarding any community, lot or floor plan. Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area. No claim of ownership is made to homes or land pictured.
