Raleigh Home Values Inside the Beltline on Steady Incline
August 30th, 2007 Categories: Inside the Beltline, Real Estate Market Trends
Thinking about buying a home in Raleigh that will also be a great investment? Home values in Raleigh’s Inside the Beltline area have proved to be a great investment over time. Based on these numbers, it doesn’t take that much time to see a return either!
Anyone looking for a Raleigh home for sale knows that Inside the Beltline is the cream of the crop when it comes to location and character. Huge oak trees that are hundreds of years old. Classic homes from the ‘30s and ‘40s. And a location for which Raleigh home buyers have consistently demonstrated a vivacious appetite.
Over the past two years, the average resale price for a detached, single family home has increased 13.6%! This is during a time when high end residential real estate in much of the country has declined in price.
In Q3 of 2005 the average sell price was $356,357. It had reached $404,766 by the end of the most recent quarter of 2007. That’s a $48,409 increase.
What do you get in this prime downtown Raleigh location for $400K? The average square feet at that price is 2027. That’s right at $200 per square feet.
Inside the Beltline is Raleigh’s premier address and some of the most coveted neighborhoods create a place you will not find anywhere else in our market.
In the coming weeks I will be doing some feature articles on some of these neighborhoods. Leave your suggestions in the comments section below.
