Friday, April 06, 2007

Welcome back!

It seems that things never slow down in the Carrboro Market. So much so, that it's time to begin blogging about our housing market again. Here is the update for our market:

There are a total of 66 homes on the market in Carrboro as of today.
31 of those are detached homes and 35 of those are either a condo or a townhome.

The average price of a detached home on the market is $350,000, with 1900 sq/ft, 3 bedrooms and 2.5 baths.

The average price of a condo or townhome is $230,000, with 1379 sq/ft, 2 bedrooms and 2.5 baths.

If you are looking to buy in Carrboro NOW is the time to start looking for your home. I suggest giving your self at least 3 months complete the home buying process.

Wednesday, April 26, 2006

Spring is in the Air...

And the real estate market is booming in Carrboro and Chapel Hill. Actually, it never really slowed down.

If this is your first time reading the Carrboro Real Estate Blog- I welcome you. If you are a returning reader- I thank you for your patience. Enough of you have emailed me- wanting an update- I had to find the time to give it to you.

So here's some basic breakdowns:

Since January 1, 2006 153 detached homes have sold-ranging in price from $145,000 to 1.5 million.

Since January 1, 2006 125 condos or townhomes have sold-ranging in price from $39,000 to 1 million dollars.

That is a lot of property... I would give an average square feet and/or an average price per square foot, but I honestly don't believe that tells you very much. What is most important is a price per sq/ft in a certain price range.

Over the next month (or so) I will be updating the blog so that people will start to become more informed before you begin you home search or home selling process.

---Shameless Plug---
I am putting the final touches on my NEW website: Please check it out (and email me any spellling errors or suggestions)!

Wednesday, October 26, 2005

There's something about...404 Berryhill Dr.

If you look back in 2005 404 Berryhill Dr. was on the market twice. In march of 2005, somebody purchased 404 Berryhill Dr. for $275,000. Then in August of 2005 404 Berryhill was put back on the market and sold for $290,000.

Now before everybody starts emailing me with requests to buy a house on Berryhill Dr. please note that before this house sold in March it was on the market for 3 months and went it sold the second time in was on the market for almost 4 months.

What I really want to point out is that generally, buying property in Carrboro is never a bad idea.

Tuesday, October 25, 2005

Another F.Y.I. Property

229 Stable Rd- $380,000, 2100 sq/ft ($180 per sq/ft), 3 bedrooms, 2.5 baths, built 2000, on a .146 acre lot.

This house was on the market for 4 days before it went under contract.

So what's the big difference between this house and yesterday's property on (1546 Pathway)? Without going into too many comparisons, I think it's safe to say the biggest differences are the age of the house and the original quality of construction. Stable Rd was built in 2000 and Pathway was built in 1994. Kovens Construction built the home on Stable Rd (the neighborhood is the Cedars at Bolin Forest).

In general, Kovens Construction does larger, more expensive, higher quality construction than the average builder-and the Cedars were no exception. Although I did not go into 229 Stable Rd, I have seen the inside of other homes in this neighborhood and I remember the actual finish of each home being EXCELLENT.

I guess what I am really saying is sometimes you get what you pay for, and sometimes you have to pay for what you want to get.

Monday, October 24, 2005

1546 Pathway- Under Contract

I haven't reveiwed this property before, but I thought it would be a good update:

1546 Pathway- $359,900, 4 bedrooms, 2.5 baths, 2300 sq/ft ($156 per sq/ft), built 1994, .25 acre lot. Available for sale (or what REALTORS call "being on the market") for 32 days.

To put this in perspective, the average home in Carrboro stays on the market for about 80 days. This is a combination of homes that sell in the first couple of days and new construction (which can typically be for sale more than a year).

I don't think this was the best deal of the year, but then again there's not a huge number of houses for sale in Carrboro either.

Sunday, October 23, 2005

What happened to the missing blog posts?!?

Sorry boys and girls. I really do try to post something everyday, but sometimes there is just nothing to say. Carrboro has an amazing market, but it is still a small town.

I would like to make it known, that if you follow this blog and have a question you would like me to share (and answer) with the rest of the blog readers, please just shoot me an email. I try to give the information I think you need to understand our Carrboro Market, but I'm not a mind reader. FYI, I also incorporate alot of home buying questions in the the free first time home buying class I hold once a month at Community Realty.

Saturday, October 22, 2005

300 Barnes Street- Under Contract

Remember 300 Barnes Street? Well as the title of today's blog suggests it went under contract.

If you don't remember 300 Barnes St. look back at the blog entry for Oct. 12.