Prices falling: At $330,000, this Raleigh home comes with bonus room (and price cut)
After two-plus years of skyrocketing prices that peaked in June 2022, the Triangle’s housing market is continuing to cool down.
In Raleigh, the median home price (half-way point) today stands at $384,000 according to Redfin data. That’s a 6.3% drop from this time last year.
The same holds true for Cary, where the median home price is $530,000, also down by 6.5%, Redfin reported.
In Durham, prices are slightly more competitive, with the median home price at $416,730 — up 4.2% year-over-year.
The good news for buyers: Homes are staying on the market longer. Plus, there’s more inventory to choose from.
Case in point: This week’s Price Point features homes currently listed for around $350,000 in Raleigh, Durham and Cary. All have sat on the market for over 75 days and are being marketed with price cuts of up to $15,000.
Here’s a look.
Price Point
“Price Point” is a new N&O column aimed at offering a snapshot of the local real estate market. Each week, we'll tell you about three houses on the market that are roughly the same price but located in different parts of the Triangle. It will also highlight how prices — and what you get for the money — can vary greatly across the region.
2105 Charny Drive, Raleigh, 27604
Listed: $330,000 (Price cut: $15,000 on Dec. 6)
Single-family ranch home with three bedrooms and two bathrooms on a 0.15-acre lot
Built in 1997, this ranch-style home is in the New Hope Crossing subdivision of Raleigh. It’s about a 12-minute drive southwest to downtown Raleigh, and about a 25-minute drive west to Raleigh-Durham International Airport.
The 1,685-square-foot home has three main-floor bedrooms. There’s additional space that can be used as a bonus room, in-law suite, office or hobby room, the listing notes. Other features include vaulted ceilings, hardwood floors, a gas-log fireplace, a fenced backyard and a deck.
It has been on the market for about 75 days.
Price per square foot: $196
HOA fees: $14 monthly
Taxes: $2,300 (estimated)
Last sold: $135,000 in September 2013
Listed by: Brent Henson, Compass — Raleigh
300 Jesmond St., Durham, 27707
Listed: $353,500 (Price cut: $1,500 on Nov. 8)
Single-family farmhouse-style home with three bedrooms and three bathrooms on a 0.7-acre lot
Built in 2022, this home is in the Hillsdale Park subdivision of Durham. It’s about a 7-minute drive north to downtown Durham, and about a 19-minute drive southeast to Raleigh-Durham International Airport.
The 1,192-square-foot home has 9-foot ceilings, a second-floor master bedroom and a fenced backyard on a corner lot.
It has been on the market for about 74 days.
Price per square foot: $297
HOA fees: None
Taxes: Not available
Last sold: $348,000 in August 2022
Listed by: Christian Eric Qually, 19 East Realty
1118 Collington Drive, Cary, 27511
Listed: $350,000 (Price cut: $15,000 on Dec. 16)
Townhouse with three bedrooms and two and a half bathrooms on a 0.03-acre lot
Built in 1973, this townhouse is in the Pirates Cove subdivision of Cary. It’s about a 17-minute drive east to downtown Raleigh, and a 7-minute drive north to north to Raleigh-Durham International Airport.
The 1,408-square-foot townhouse offers an eat-in kitchen with granite countertops and stainless-steel appliances. Upgrades include new flooring, paint, tub/showers, washer/dryer, and built-in bookshelves. Roof, HVAC and water heater are under 5 years old.
It has been on the market for about 140 days.
Price per square foot: $249
HOA fees: $272 monthly
Taxes: Not available
Last sold: $31,000 in August 1973
Listed by: D Greco, HomeTowne Realty
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