Market Report - Chapel Hill New Homes
Chapel Hill/Carrboro New Home Listings DOWN 32%
Chapel Hill Offers Fewer New Homes
Looking for a new home in Chapel Hill? Thinking the choices have gotten a little thinner? You're right....
New Home inventory in Chapel Hill/Carrboro was down 32% in November 2009 versus November 2008. Chapel Hill has long been one of the most coveted places to live in the Triangle area.
Chapel Hill new home inventory prices will also be affected by the recent increases in impact fees. The impact fees for a home built in Chapel Hill or Carrboro school districts just increased to $7616. And it will go up further, to $9,520, for any home beginning construction after Jan 1, 2011. This is the highest impact fee by far for any location in the Triangle.
New Home Listings by Price Point Chapel Hill NC
There were fewer new home listings in Chapel Hill/Carrboro in nearly every price point.
- Under $300K Chapel Hill new home inventory showed only 4 homes available.
- $300-399K Chapel Hill new home inventory reduced from 13 homes to only 4 homes.
- $400-499K Chapel Hill new home inventory increased from 5 homes to 11 homes.
- $500-599K Chapel Hill new home inventory decreased from 11 homes to 6 homes.
- Townhomes and condos are the most common kind of new construction in Chapel Hill.
There are fewer "affordable" homes in Chapel Hill than in any other area. Homebuyers who work in Chapel Hill often consider Chatham County, Hillsborough, or Durham for their new home.
Overall New Home Listings Chapel Hill November 2009
On December 1 2008, there were 181 new homes listed in Chapel Hill/Carrboro.
On December 1 2009, there were only 123 new homes listed in Chapel Hill/Carrboro.
Of those 123 new homes, 73, or 62%, were condos or townhomes. This area has the highest percentage of townhomes and condos for available new homes. Raleigh inside the beltline has the second highest at 54%, and Durham County has the third highest percentage, at 44%.
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 Inside the Beltline?
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 inside the beltline?
- Chapel Hill homes in the $1 million+ range saw the most showings in November 2009.
- Chapel Hill new homes in the $600-799K range saw the most showings PER HOME.
- Condos inside the beltline saw the least showings per home.
Want to see the most recent Raleigh area market reports?
Most Up-to-Date Raleigh Market Reports - How is the Housing Market in Raleigh?
How to Build a New Home in Chapel Hill, NC - New Home Resources
Chapel Hill NC New Homes – New Home Builders Chapel Hill NC
Golf Course Community Homes in Chapel Hill, NC
Build On Your Lot in Chapel Hill
Chapel Hill New Home Lots for Sale
Accessible Home Opportunities in Chapel Hill, NC
Build On Your Lot in Chatham County, NC
Finding Your New Home in the Raleigh Area
Stanton Homes makes it easy! We'll guide you through the entire process - select from thousands of different floor plans, and hundreds of different locations, with a focus on new custom homes in the upper $100s to the $500s. Custom design build options available too!
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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Articles copyright Stanton Homes 2006-2011. Unauthorized use is not permitted. 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 any lot listings, but can work with homebuyers to purchase available 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.
Excellent Job where do you get your info and nice graphs...MLS graphs & charts? How long does it take you to compile? Nice job!
Mark - We subscribe to the TARR (Triangle Area Residential Realty) reports, which thoroughly scour the market information in this area. I'll drop you a note on how to create the graphs.
Penny, well done info on Chapel Hill. I like the layout of your reports. Very easy to understand and follow and your graphs are great!
Pamela - glad you find them easy to read. It's hard to make a bunch of boring percentages really clear!