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Hello friends, welcome to March!
Between the warm weather and blooming flowers, it certainly feels like spring is here! And pleased to say that our local real estate market is already heating up and yet somewhat easier to navigate than 12 months ago (the frenzy). Buyers are now finding more options with a little breathing room and most Sellers are still more than satisfied with their sales price, as values remain strong and stable.
"This is an amazing time to buy as competition is temporarily lower due to the seasonality of our market and rates being slightly higher. That said, those waiting for lower rates should definitely reconsider and buy now. When rates ultimately move lower the increased pool of buyers will drive the limited inventory of homes back towards a bidding war. That extra cost of waiting could be 50k or more in many cases. Settling now at the list price and having a plan to refinance later is the best strategy."
- Mark Wooten, First Home Mortgage
We are here to offer any advice and it’s never too early to start conversations. Just ask!
And don't forget, St. Patrick's Day is coming soon.
We have some exciting area accolades, events, and new listings to share with you. But first, lets take a look at the local real estate market. The most notable stat is that sale prices are still rising!
Here are the most recent stats from the Triangle MLS for the "entire Triangle" and the "Cary/Apex/Morrisville" areas.
NEW LISTINGS: 2975 vs 2952 -0.8%
CLOSED SALES: 2824 vs 1964 -30.5%
MEDIAN SALE PRICE: $370,575 vs $385,000 +3.9%
PERCENT OF LIST PRICE RECEIVED: 102.2% vs 97.8% -4.3%
DAYS ON MARKET UNTIL SALE: 15 days vs 43 days +186.7%
INVENTORY OF HOMES FOR SALE: 2186 vs 5528 +152.9%
(Cary/Apex/Morrisville only)
NEW LISTINGS: 298 vs 257 -13.8%
CLOSED SALES: 288 vs 217 -24.7%
MEDIAN SALE PRICE: $514,159 vs $580,000 +12.8%
PERCENT OF LIST PRICE RECEIVED: 105.3% vs 98.2% -6.7%
DAYS ON MARKET UNTIL SALE: 9 days vs 41 days +355.6%
INVENTORY OF HOMES FOR SALE: 119 vs 279 +134.5%
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Thinking of selling in 2023?
We would be happy to assist.
Give us a call today to get started!
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Cary leads the way as "Most Affordable Safe Cities" by SmartAsset.
Raleigh is ranked 1st as the Hottest Housing Markets in the US by USNews! Durham is ranked 3rd.
Apex was ranked as the safest city in NC by MoneyGeek.
Raleigh ranks 2nd for "Best Places to Live in America in 2023" by StudyFinds.
Raleigh Durham ranks in the Top 10 for Multifamily Investment Markets due to "quality of life and labor market performance".
North Carolina ranks 3rd for inbound moves by Allied Van Lines.
Raleigh ranks as the 7th best place to retire in the US by Zumper.
Lendingtree looked at which metros boomed the most between 2019 and 2021. Durham ranked 7th and Raleigh ranked 8th.
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Good luck and hope you win!
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One of my favorite shops at the brand-new Fenton is Athleta. They are known for high-quality and stylish women’s activewear designed for everything from yoga to running. I hope you love their clothing as much as I do!
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Raleigh St. Patrick's Day Parade
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When: Sat. Mar. 11th, 10 am
Where: Wilmington St and Fayetteville St in downtown Raleigh
celebrate the great St. Patrick and Irish/Celtic traditions and culture. Learn more.
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Tobacco Road Marathon & Half-Marathon
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When: Sun. Mar. 19th, 7 am
Where: 9008 Green Level Church Rd, Cary
The course is flat, fast, and a downhill finish! Learn more.
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The farm features a demonstration garden and offers agricultural and nutritional educational programming.
License plots up to two acres!
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Take Your Bedroom to the Dark Side
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These black bedrooms will have you rethinking your space's color story. See more.
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2 BD 2 BA 1165 SF $225,000
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Great value in Colony Hill! Close to everything....downtown Durham, Duke University, Duke Forest, UNC-Chapel Hill University, lots of area parks, plus neighborhood amenities including pool and tennis courts. Convenient top level (3rd floor but only two flights up), large balcony with "treehouse" view, private setting. New A/C (2016) and roof (2014). Freshly painted. Spacious living/family room includes a fireplace with adjacent bookcases. Separate dining room. Owner's bedroom has attached 1/2 bath and walk-in closet. Large secondary bedroom could serve as office, guest space. Convenient hall bath. Easy lifestyle, nothing to take care of, better than renting! Also a terrific investment property.
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4 BD 3 BA 2065 SF $435,000
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Beautiful Home in Canterbury Woods! New Roof (Aug 2022) and $25K in Other Improvements (see Highlights in MLS docs). Easy to care for Luxury Vinyl Floors on Main Level. Kitchen offers Stainless Appls, Granite Counters, Tile Backsplash, and a Bright Breakfast Area. Relax in the Family Room next to the Brick Wood-Burning Fireplace. There's also a Dining Room and Living Room/Home Office. The Owners Bedroom includes a Walk-in Closet and Attached Bath. The 2nd Fl also has Three Additional Bedrooms and a Hall Bath. Enjoy hanging out in the Peaceful Screened Porch or Grilling out on the Back Deck. There's also a Shed for storing your yard equipment. No HOA! Located on a cul-de-sac street (less traffic!) and just minutes to Area Parks & Greenways, downtown Cary, WakeMed Soccer Park, The Fenton, and easy access to Hwy 54 and I-40!
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4 BD 4 BA 3000 SF $687,500
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Immaculate Home in popular Lochridge! Mostly Hardwoods on main floor. Kitchen offers Stainless Appls, Quartz Counters, Center Island w/Seating, Pantry, and a Bright Breakfast Area. The Vaulted Family Room features a Gas Fireplace w/Side Bookshelves. The Dining Room has a Trey Ceiling. Home Office has a Double French Door entry. MAIN FL OWNERS SUITE w/Cathedral Ceiling, Walk-in Closet w/Custom Shelves & Cabinets, and Spa Bath w/Double Quartz Vanity, Free-Standing Tub, and a Tiled Shower. Main Fl Laundry offers a Utility Sink w/Quartz Counters & Upper Cabinets. 2nd Fl includes a Loft, Two Bedrooms that share a Full Hall Bath, and One Additional Bedroom w/a Private Bath. Relax on the Back Deck while enjoying the Peaceful Wooded Views. Lochridge offers residents a Clubhouse with Pool. Located close to Harris Lake County Park, SouthPark Village Shopping, Holly Springs Towne Center, downtown Holly Springs, downtown Fuquay-Varina, Parish Womble Park, Ting Park, and easy access to US-1, Hwy 55 By-pass and the Triangle Expressway/I-540!
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4 BD 3 BA 2945 SF $660,000
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Beautiful Home in Arcadia Ridge! New Roof (Oct 2020) & Fresh Interior Paint (Dec 2022)! Mostly Hardwoods on Main Floor. Kitchen offers Stainless Appliances, Granite Counters, Large Center Island w/Seating, and a Bright Dining Area. The open concept Family Room features a Gas Fireplace. There's also an Office Nook with a Built-in Desk. The Home Office/Living Room is wrapped with Wainscoting. Upstairs is a Spacious Loft perfect to use as a playroom. The Owners Suite includes a Walk-in Closet, Two Vanities, Tiled Shower, and Garden Tub. There's also Three Additional Bedrooms all with Walk-in Closets. And the Laundry Room is conveniently located on the 2nd floor near all the bedrooms. Relax after a long day in the Peaceful Screened Porch. There's also a Deck for Grilling and a Fenced Backyard for Added Privacy. Arcadia Ridge includes a Community Greenway Trail. This home is located close to Apex Nature Park, Publix, Beaver Creek Commons, and has easy access to US-64 and the Triangle Expressway!
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4 BD 3 BA 2900 SF $625,000
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Beautiful Home in Cary's popular Lochmere neighborhood! Nestled on a cul-de-sac just minutes to Waverly Place, LifeTime Fitness, WakeMed Cary Hospital, with nearby Harold J Ritter Park and Hemlock Bluffs Nature Preserve. Recent improvements include New LVP Floors in Kitchen (Feb 2023), Both Interior & Exterior Paint (2021), and New Water Heater (2021). Updated Kitchen (2017) includes Stainless Appls, Quartz Counters, Tile Backsplash, Center Island, and Bright Breakfast Area. The Family Room features a Brick Fireplace and a Wall of Windows to let in Plenty of Natural Light. The Dining Room has a Trey Ceiling and the Main Fl Home Office includes a Double French Door Entry. Spacious Owners Suite features a Cathedral Ceiling, Walk-in Closet, and Updated Bath with Two Vanities, Jetted Tub, and Tiled Shower. There's also a Finished 3rd Fl Bonus Room. Tons of Amenities include a Pool, Tennis Courts, Lake with Trails, and a Playground. Lochmere Golf memberships are also available.
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that we have trusted real estate professionals throughout the US? These are friendships and contacts that have been built for over 20 years.
Thinking of a second home at the lake? Or the mountains? Family moving in other areas?
Call, email or text us first, we have you covered!
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REALTOR® ABR, CRS, E-PRO, CLHMS, PMN, C2EX
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Maximize the value of your home with Compass Concierge.
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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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