Home Buying & Selling in Our Booming Triangle
Considering making a real estate move? Triangle home buying and selling is surely on the rise. Maximizing your success in our competitive market starts with minimizing confusion surrounding its current buyer & seller atmosphere.
Thankfully, our Chappell x Compass experts and national network of like-minded agents understand the value of empowering your equity. More importantly? They effectively navigate our community’s exponential growth.
Even if you aren’t considering a move just quite yet – our agents can mollify any preexisting stress. Not to mention, open your mind to what the Greater Raleigh market offers a potential buyer, seller or investor.
The Situation:
“We are experiencing the greatest influx of capital into the residential real estate market in the history of Triangle since the arrival of IBM in the 1960s,” shared Stacey Anfinsen at a recent Compass meeting. Anfinsen is one of the local market’s most experienced appraisers.
That’s a bold statement, but it is built on a pile of data: Apple, Vinfast, Google, & Fidelity along with thousands of people migrating from higher costs areas are changing the cost of real estate in Raleigh and Durham.
Appreciation is an enormous financial gain for those who already own homes in our market. It is a challenge for those who seek to buy as prices accelerated almost 2% per month in 2021 and 2022.
How does that look? In Durham County, the median resale price rose almost $100,000 from Feb 2021 to Feb 2022. Meaning that if you delayed a purchase in 2021? You could expect $68,000 added to the average resale purchase price in Wake County. This highlights the 17% increase over the last year. (Source: Triangle Area Real Estate Report)
Maybe Will Rogers had the Triangle in mind when he said, “Don’t wait to buy real estate. Buy real estate and wait.”
The Outcome:
Depending on data source, specific geography, and home product type, local home values and prices are appreciating in the annual range of 16-22%.
The metro area footprint is expanding and filling in. Knightdale, Sanford, Rolesville, and Pittsboro are examples of formerly quiet North Carolina towns now becoming bedroom communities for the office spaces of RTP, Downtown Durham, and Raleigh’s ITB. Residential real estate is going vertical in major metropolitan hubs, all while expanding to new perimeters of a nine-county boundary.
Simply put, a quiet hideaway today? Could be a hot locale tomorrow.
The Opportunity:
Bottomline: Appreciation is an enormous opportunity to build wealth for our clients.
Many long-term homeowners in our market had equity gains in 2021 that exceeded their incomes. We encourage prospective buyers to engage experienced and well-resourced professionals; it’s no time to be dabbling, it is time to make smart investments, and for some clients, it is time to cash in.
Consider that appreciation applies to the entire value of a home but the investment only requires a fraction of the sales price. We face a seldom-seen opportunity to grow wealth for all who enter the market.
At Chappell, we are here to help you assess the moment and make well-informed decisions. Our buyer and seller agents not only provide unmatched insight, but unparralleled access to the Triangle’s most cutting-edge offerings and coveted locales.
Through exclusive in-house resources like the Chappell Priority Access Program, and nationwide assets like Chappell x Compass Private Exclusives, Coming Soon and Concierge Services, our buyers and sellers are equipped with everything that they could need to make their real estate dreams a reality.
Feeling Inspired?
Let’s start a conversation – at your pace.
To explore the latest Chappell offerings – including next-level new construction & noteworthy resale offerings from Fayetteville Street to Fuquay Varina – check out our full listings page. Want to check out more of the resources at your disposal?
The Chappell buyers’ and sellers‘ pages break down how proven processes & local professionals set you up for success at the very start of your Triangle home buying or selling endeavours. No matter if you’re considering buying or selling in the Triangle area, our team of closers can get the job done.
// #ChooseChappell x #Compass