Market Report - Raleigh NC
Cary/Apex/Morrisville New Home Listings Down 34%
Number of New Homes Available Continues to Decrease
Looking for a new home in the Raleigh area? Thinking the choices have gotten a little thinner? You're right....
New Home inventory in the Cary/Apex/Morrisville market area was down 34% in November 2009 versus November 2008. Cary has been a top destination for over a decade, and Apex and Morrisville have both been highly sought after, particularly in the last five years.
In September 2009, new home inventory was down 29% to September 2008 - inventory has slipped another 5% in the past two months.
New Home Listings by Price Point in Cary/Apex/Morrisville

Cary/Apex/Morrisville saw reduced inventory in every price bucket across the board.
- New homes in the Cary area under $300K remain hardest to find, in these top choices for relocation. There were a total of only 28 new homes in these price points previously - December 1st 2009 saw only 23 new homes under $300K.
- New homes in the Cary/Apex area in the $600-799K price point saw the most significant percentage reduction. Luxury home buyers are starting to move through existing inventory. Number of new homes available reduced from 53 to 22 homes, a 58% inventory reduction.
- Cary/Apex/Morrisville new homes in the $300-399K price point saw the second biggest unit reduction - from 85 homes to 55 homes available across the three jurisdictions, a 35% reduction in available inventory.
Overall New Home Listings Available in Cary/Apex/Morrisville

New home inventory in Cary/Apex/Morrisville dropped from 533 new homes at this time last year to 351 new homes on December 1, 2009, a 34% new home inventory reduction.
New Home Showings in Cary/Apex/Morrisville
Is anyone looking at new homes in Cary, Apex, and Morrisville? Yes, quite a few of them! Here's a breakdown by price point:

Overall, showings were UP 38% versus September 2009. This is a huge increase, particularly for a time of year that is traditionally much slower. Is it possible that many of these lookers are move up buyers who sold their first home to a "first time homebuyer" this fall?
New homes in the $500-599K price point saw the most showings per home, on average.
New homes in the $400-$499K price range saw the most showings overall. This is a big increase from September - showings in this price point almost doubled!
New homes in the $300-399K price range also saw significant traffic.
How does Cary compare to the rest of the Triangle?
Triangle New Home Market Reports - Dec 1 2009
Want to see the most recent Raleigh area market reports?
You may also be interested in:
Cary New Homes, Communities, Lots and Land
Apex New Homes, Communities, Lots and Land
5 Easy Steps to Buying a Lot or Land in the Raleigh Area
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Article copyright Stanton Homes 2010. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements. Please note: all listing information per MLS, and current as of posting date. Information subject to change. Stanton Homes does not make claims to ownership of above lot listings, but can work with homebuyers to purchase lots and build. Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions. Ask for further information regarding any community, lot or floor plan. Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area. No claim of ownership is made to homes or land pictured.



