Chapel hill real estate
Located in the Orange County Chapel Hill is one of the best places to live and work in North Carolina. Home to the University of North Carolina Tar Heels and also other good colleges it is preferably known as the college town. Chapel Hill falls in the Triangle area of North Carolina the other cities being Raleigh and Durham. This Triangle forms the heart of North Carolina has a lot to offer to its residents.
The city of Chapel Hill is one of the best places in the Triangle area and consists of one of the most happening places. The Downtown Franklin Street is touted to be the most vibrant downtown in the state. You can have fun at any time of the day or night in this area.
If you are looking for some more good places then you can head east on Franklin Street and turn right on Estes Drive to find University Mall and browse department stores. Or you can also try out the western side Carrboro. You can even trek through Carr Mill or along Carrboro's main streets where you'll find rock shops and rug shops sprinkled amid stores specializing in local crafts like pottery and woodworking. If all these things are convincing for you and you wish to invest in the real estate in the area then you should have a better understanding of the real estate market of Chapel Hill.
The Chapel Hill real estate market trends
There is some good news for the buyers as home prices have declined but the sales have also gone down by 1%. This decline has been seen after a period of almost 5 years. In this situation the high priced houses have been impacted a lot as the number of these houses in the market is high. At present there is a 5 months supply of homes in Chapel Hill and the inventory has overall increased by 17% in the Orange County; re-sale inventory increased 26% and new home inventory decreased 4%. The average price of houses in Chapel Hill is $321,000.
The Chapel Hill real estate market statistics is as follows: Average list price
of homes sold in Chapel Hill - $421,571
Average sales price in Chapel Hill - $413,931
Homes on the market: 683
Homes sold per month: 110
Months supply of homes on the market: 6.1-
Market average: 81 days Apart from this area wise the average price of detached homes on the market in the Chapel Hill school district is $609,123 with a median list price of $485,000. Detached home prices ranged from $138,000 for a 1,171 square foot home in Culbreth Park to $2,750,000 for an executive home in the historic district near the university.
For attached homes the average price of homes in the Chapel Hill-Carrboro School District was $304,591 with a median price of $184,900. Prices range from $44,500 for a condo converted from an apartment to luxury town homes in Meadowmont priced at $1,695,000. When you think of investing in Chapel Hill real estate then it is important that you take the help of a real estate professional so that you have a better idea about the market and the neighborhoods.
Will taking the help of real estate agent make a difference?
The Chapel Hill real estate market is growing every year and this makes it very important for people who wish to get a real estate property to look for a good real estate agent. After you have searched the real estate agent then you should talk to him about the area and get information about the city. If you are relocation to Chapel Hill then you should consider visiting the city once and then taking a decision as to which area do you wish to buy the house in. Your real estate agent should be able to show you around the neighborhoods so that you can decide as to which would be the best for you. Before you start visiting any houses you should make sure that you have informed the agent about the price range in which you are looking for the house. The more groundwork that you have done before approaching an agent the better deal you would get.
You should beware of agents who try to show you houses that are not according to your choice. It is quite possible that they would be trying to get rid of some property by selling it to you. You should find an agent that would work for your interest after some productive research. It is difficult to determine which would be a good option for you without visiting the place. It is best that you use the online MLS (multiple listing service) to look for the right kind of property in Chapel Hill. Sites that provide MLS would help you in choosing he right kind of house within your price range. Besides this there are some MLS sites that would also provide you with the pictures of the property that is on sale and this can be helpful for you in making a decision.
Chapel Hill real estate agents
Some of the real estate agents functioning in Chapel Hill are mentioned below:
Jodi Bakst:
Contact: 1721 E. Franklin Street, Chapel Hill, NC, 27514;
Office Phone:(919) 672-4377, Fax Number:(877) 206-5036.
Masha Halpern: Contact: 1516 E. Franklin Street, Chapel Hill, NC, 27514; Office Phone:(877) GR8-HOMZ, Alt. Phone:(919) 951-1780
Clarence Lupton:
Contact: 1201 Raleigh Road, Suite 209, Chapel Hill, NC,
27517; Office Phone:(919) 929-5010, Cell Phone:(919) 524-8330
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