According to Raleigh Realtor Michael Porter with Novus Home Quest, the city is tipped to be one of the top areas for real estate growth in the US due to rising home values, steady growth of residents’ incomes, a strong job market and comparatively low unemployment rates. In short, demand is high and available real estate inventory in the Triangle is relatively low.
Recently voted the best place to live in North Carolina and the best big city in the Southeast, Raleigh offers a city that is family-friendly with welcoming Southern charm and has been slowly transforming into an important technology hub with a number of large corporations making Raleigh their head office including Cisco Systems, IBM Corporation, and Fidelity Investments. It’s also the capital of North Carolina (known as the City of Oaks), and, with an estimated population of 438,000, is the 42nd most populated city in the US.
The wealth of the city is evident in the average incomes (over $30,000 per annum for Raleigh residents, almost $2500 more than the US average). The median household income is over $64,000 per year (over $15,000 more than the rest of North Carolina) which means that Raleigh represents a wealth of opportunity for real estate investments, both for sellers and buyers with a median home value of over $250,000 and the value of homes increasing over 5% every year (5.9% in the past year, with 5.3% increase predicted for next year.)
A Raleigh Realtor® will be able to help you find or sell your home, they know the best suburbs to purchase in as some have higher demand. The 5 best suburbs to live in are Oakwood (for historic restored homes popular with young couples and first-time homebuyers), Five Points, Brier Creek (popular with young families), North Hills (for great schools, restaurants and parks) and Apex (historic neighborhood with a community feel, and the highest number of new construction homes).
Another area in the real estate market that has been booming is new construction homes. The growth rate of new construction homes has been impressive with over 40,000 new homes built or approved for construction in the last 7 years. The suburbs of Apex and Wake Forest have been leading the way with almost 8000 and 7000 new homes respectively. If you are wanting help with investment properties: finding a qualified, reputable Raleigh real estate agent who knows the market is a must.
While Michael Porter with Novus Home Quest has been vocal about the increasing costs homes for sale in Raleigh and the pressure that it puts on new homeowners, they have also presented the flip side of the coin. As he points out, “The increased cost of homes is an exciting opportunity for existing homeowners coming to us asking to ‘sell my house’,” he went on to say “we know that we get them a quick turnaround time on their property sale without having to compromise on the sale price and while mortgage rates are still very low, everyone including the Fed is saying that mortagage rates will continue to rise slowly but steadily into 2019 so this is quite literally the perfect time to consider that upgrade to a new house.”
Novus Home Quest is based in Raleigh, NC. They have extensive experience in the city’s real estate market with experienced and knowledgeable real estate agents having worked in the industry for many years.
They are able to offer a full-service solution for selling property, specializing in expert listing services for Raleigh homeowners, fast sales for inherited homes and foreclosures and investors looking to expand their portfolio in the Triangle region. Their practical, hands-on approach to selling means that properties requiring extensive repairs are not precluded from being listed. If you are thinking seriously about selling your home, get in touch with Novus Home Quest, which has the best 5-star rated real estate agents in Raleigh, NC.
Novus Home Quest
Coldwell Banker Howard Perry and Walston
5000 Falls of Neuse Rd.
Raleigh, NC 27609