Raleigh Market Reports - Raleigh New Homes ITB (Inside the Beltline)
Raleigh Inside the Beltline New Home Listings DOWN 32%
New Home Inventory Down Another 8% Since September 2009
Looking for a new home inside the beltline in Raleigh? Thinking the choices have gotten a little thinner? You're right....
New Home inventory ITB Raleigh was down 32% in November 2009 versus November 2008. Inside the Beltline is one of the most popular designations in the Triangle area.
"Inside the Beltline" does cover a fairly wide range of territory. Most of the new home listings under $300K are on the "east" side, with some on the "south" side near Garner. There is a bare handful of new homes on the North side between $300K and $400K, and none below $300K.
New Home Listings by Price Point Inside the Beltline Raleigh
There were fewer new home listings inside the beltline in Raleigh in every price point but one.
- Under $200K Raleigh inside the beltline new home inventory showed only 2 homes available.
- $200-299K Inside the Beltline Raleigh New Home inventory increased by 100%
- $300-399K Inside the Beltline Raleigh New Home inventory reduced by 58%
- $400-499K Inside the Beltline Raleigh New Home inventory reduced by 64%
- Townhomes and condos are the most common kind of new construction inside the beltline.
Homes inside the beltline under $400K tend to be smaller or simpler, because the cost of land is much higher in this desirable area. North Raleigh inside the beltline is the top requested location, and most new homes in that area are well above $400K.
Overall New Home Listings Raleigh Inside the Beltline November 2009
On December 1 2008, there were 256 new homes listed Inside the Beltline
On December 1 2009, there were only 175 new homes listed Inside the Beltline.
Of those 175 new homes, 94, or 54%, were condos or townhomes. This area has the highest percentage of townhomes and condos for available new homes. Durham County has the second highest percentage, at 44%.
Builders are building fewer "speculative" homes, and more home buyers are opting for completely custom packages, in every price point (which means the homes are not listed, but completed to the buyers exact specifications).
What Price Points are getting the most showings Inside the Beltline?
If you're looking to purchase in these price points, you'll have more competition for your new home.
Which price points are most popular inside the beltline?
- Inside the Beltline homes in the $1 million+ range saw the most showings in November 2009, both overall and per home.
- Inside the Beltline new homes in the $600-799K range saw the second most showings overall, and the second most showings PER HOME.
- Condos inside the beltline saw the least showings per home.
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Finding Your New Home in the Raleigh Area
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Call 919-278-8070 or visit www.StantonHomes.com to find out more about new homes in the Raleigh area today.
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Articles copyright Stanton Homes 2006-2011. Unauthorized use is not permitted. 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 any lot listings, but can work with homebuyers to purchase available 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.
