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The Triangle North Carolina Real Estate

With the recent economic downturn, people are even more conscious of saving money and making smart purchases. If you are considering relocating to the Triangle, or if you happen to be in the market for a new home, your timing in regard to potential money savings, and the Triangle real estate market in general, may be absolutely perfect.

 

You will be thrilled to know that the Raleigh-Cary market was ranked first in the country’s healthiest 100 housing markets, according to California research firm Hanley Wood Market Intelligence. The rankings were based on home prices, employment conditions, and income growth potential.

 

There are also bargains to be found in the Triangle market. Of the new homes sold in the Triangle last year, 61 percent went for $300,000 or less, up from 55 percent in 2008.

 

New homes today must compete with foreclosed homes and other houses built during the bubble that have languished on the market and are now selling for a discount.

 

According to the Realty Times, for the entire Triangle region, the average price of homes sold dropped 6.6 percent from $238,573 to $222,827 for 2009, while the median price of homes sold dropped 4.2 percent from $190,000 to $182,000 in the same period.

 

According to the report, the drop in prices was influenced as much by of the type of homes that were selling – those homes below $200,000 purchased by first time homebuyers taking advantage of the available Federal tax credit -- as it was by falling home prices.


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