Townhouse living is on the rise nationwide as baby boomers downsize and choose homes where all of the maintenance is done for them. In the busy Raleigh Durham marketplace, the townhouse market remains strong with some significant trends taking place. Knowing these trends in advance can help you as you shop for a Raleigh Durham townhouse. Let’s take a look at some of the most significant trends shaping the Raleigh Durham townhouse market today.
Downtown Living – North Carolina’s capital is Raleigh and the downtown there is seeing some rapid changes. The Fayetteville Street Mall has been replaced by a wide open boulevard meant to help draw traffic back downtown. Recently reopened, the new Fayetteville Street is one part of the big changes occurring in that city. Another one includes a new civic center being built to replace the one torn down in 2005. Raleigh’s major newspaper, the News and Observer, is reporting that the average price of a downtown condo is presently going for $360,000, more than double the price of townhouses elsewhere in the region.
Expanding Stock – New townhouses are cropping up in Cary, Apex, Durham, Chapel Hill, Morrisville, and Raleigh reflecting a trend that has been gaining strength over the past several years. As busy baby boomers age and launch their children out of the nest, many are selling their homes and purchasing elaborate townhouses in North Raleigh, Preston, and other exclusive communities. Typically, these townhouses come with all of the amenities including 3 bedrooms, 3 baths, a deck, a community pool with tennis courts, and so much more.
Older Townhouses – Townhouses from the 1970s and 1980s dot the region and are a great value to new homeowners. Typically, these homes feature 2 or 3 bedrooms with 2 baths and feature starting prices around $100,000. Most of these townhouses are in stable neighborhoods, but are selling for prices significantly lower than new, more modern townhouses. Durham, Cary, Chapel Hill, Hillsborough and Raleigh all feature townhouses that are value priced.
Country Living – With a new looping highway in the process of being built, developers are building large communities of townhouses on farmland far away from city centers. Current occupants know that eventually the city will come to them, but in the meantime these country living townhouse communities are enjoying an extra bit of quiet right now. Once I-540 has been completed, the population base for Wake County will encompass many of these new townhouse communities.
Raleigh, Durham and some other communities offer attractive options to townhouse living too. Besides the huge stock of single family homes present, downtown lofts and condos are popular and certain to gain in popularity as both cities revive, grow, and expand their city centers. For art lovers, history buffs, and convenience seekers the only hard decision will be which to city to select: Durham or Raleigh?
Yes, the trend for Raleigh Durham townhouses remains strong. Will you take advantage of it? If you do, then you can be certain that a Raleigh Durham home will likely bring to you much satisfaction and great value for the money.
Steve Arnold runs a Real Estate Investment Company called Triangle Home Buyers . View other articles at Triangle Home Buyer's Real Estate Articles page.