Prices falling: At $330,000, this Raleigh home comes with bonus room (and price cut)
After two-plus years of skyrocketing prices that peaked in June 2022, the Triangle’s housing market is continuing to cool down.
In Raleigh, the median home price (half-way point) today stands at $384,000 according to Redfin data. That’s a 6.3% drop from this time last year.
The same holds true for Cary, where the median home price is $530,000, also down by 6.5%, Redfin reported.
In Durham, prices are slightly more competitive, with the median home price at $416,730 — up 4.2% year-over-year.
The good news for buyers: Homes are staying on the market longer. Plus, there’s more inventory to choose from.
Case in point: This week’s Price Point features homes currently listed for around $350,000 in Raleigh, Durham and Cary. All have sat on the market for over 75 days and are being marketed with price cuts of up to $15,000.
Here’s a look.
2105 Charny Drive, Raleigh, 27604
Listed: $330,000 (Price cut: $15,000 on Dec. 6)
Single-family ranch home with three bedrooms and two bathrooms on a 0.15-acre lot
Built in 1997, this ranch-style home is in the New Hope Crossing subdivision of Raleigh. It’s about a 12-minute drive southwest to downtown Raleigh, and about a 25-minute drive west to Raleigh-Durham International Airport.
The 1,685-square-foot home has three main-floor bedrooms. There’s additional space that can be used as a bonus room, in-law suite, office or hobby room, the listing notes. Other features include vaulted ceilings, hardwood floors, a gas-log fireplace, a fenced backyard and a deck.
It has been on the market for about 75 days.
Price per square foot: $196
HOA fees: $14 monthly
Taxes: $2,300 (estimated)
Last sold: $135,000 in September 2013
Listed by: Brent Henson, Compass — Raleigh
300 Jesmond St., Durham, 27707
Listed: $353,500 (Price cut: $1,500 on Nov. 8)
Single-family farmhouse-style home with three bedrooms and three bathrooms on a 0.7-acre lot
Built in 2022, this home is in the Hillsdale Park subdivision of Durham. It’s about a 7-minute drive north to downtown Durham, and about a 19-minute drive southeast to Raleigh-Durham International Airport.
The 1,192-square-foot home has 9-foot ceilings, a second-floor master bedroom and a fenced backyard on a corner lot.
It has been on the market for about 74 days.
Price per square foot: $297
HOA fees: None
Taxes: Not available
Last sold: $348,000 in August 2022
Listed by: Christian Eric Qually, 19 East Realty
1118 Collington Drive, Cary, 27511
Listed: $350,000 (Price cut: $15,000 on Dec. 16)
Townhouse with three bedrooms and two and a half bathrooms on a 0.03-acre lot
Built in 1973, this townhouse is in the Pirates Cove subdivision of Cary. It’s about a 17-minute drive east to downtown Raleigh, and a 7-minute drive north to north to Raleigh-Durham International Airport.
The 1,408-square-foot townhouse offers an eat-in kitchen with granite countertops and stainless-steel appliances. Upgrades include new flooring, paint, tub/showers, washer/dryer, and built-in bookshelves. Roof, HVAC and water heater are under 5 years old.
It has been on the market for about 140 days.
Price per square foot: $249
HOA fees: $272 monthly
Taxes: Not available
Last sold: $31,000 in August 1973
Listed by: D Greco, HomeTowne Realty
This story was originally published January 2, 2024 at 2:53 PM.
