Friday, January 15, 2016

2015 Market Snapshot: Cameron Village and Cameron Park

The Cameron Village area is going to see a lot of changes over the next several years. The two large apartment buildings on the corner of Oberlin and Clark were just the beginning. More apartments are coming on Oberlin, and the Cameron Village small area plan calls for even more density within the Village. 

Thursday, January 14, 2016

2015 Market Snapshot: Mordecai and Oakdale

Icons made by Freepik from

Icons made by Freepik from

Tuesday, January 12, 2016

2015 Market Snapshot: Historic Oakwood

Icons made by Freepik from 
Continuing the review of sales of Downtown Raleigh homes in 2015 by neighborhood, Historic Oakwood had a lower volume of sales with only 7. Still a very popular neighborhood and the homes tend to sell quickly.

Curious to know how your home or neighborhood compares? Send me a note or give me a call.

2015 Market Snapshot: East Downtown Raleigh

With the new year comes lots of analysis of the previous year, and in the past I have focused on Downtown condos only. I'll provide a snapshot of that activity as well, but this year I decided to take a look at all the other areas around downtown.
Icons made by Freepik, Teela Cunningham from www.flaticon.comis licensed by CC BY 3.0
We'll kick off this year with East Downtown. This includes single family homes within the area bound by New Bern Ave, Tarboro Rd, MLK, and East St.

Whether or not comparing average price year over year is statistically accurate, everyone who is familiar with this area knows that it is booming.  So the 39% increase in average price doesn't surprise me at all.

Interested in buying in this area or need to sell? Give me a call or shoot me a note. Its very common to have multiple offers on these homes.

Tuesday, January 5, 2016

Blount Street Commons Wrap up

As we begin 2016, it’s hard to believe that back in 2011 Blount Street Commons was mostly vacant land. Once the major development for the north end of town, the project had stalled during the downturn.  When I joined the project it was clear that the market had shifted and that it wasn't likely that the historic homes and lots would be sold as residential. That spurred the Missing Middle post back in 2012. I still think that there is an opportunity for a low rise community, especially with one-level living, but that's for another post. 

Thankfully the economy turned around and now the first phase (2 blocks), as it was once known, is complete.  The other 3 blocks originally part of the plan were kept by the State. It is very nice to see the neighborhood come together as one cohesive unit. Here’s a recap of the results:

Row and Carriage Homes

Stanley Martin has sold out of both the carriage homes, row homes, and the new condos along Person Street. 

Historic houses and lots sold

A new residential house is being built by Rufty Homes.

The Merrimon Wynne house is a successful wedding venue and they are building a new building on the lot next door for receptions and general expansion.

The Cowper house was purchased by Legacy Homes and renovated for commercial use and  was purchased by Robertson Law

Lewis Smith house was purchased and renovated by Hobby Properties. 

Russ house is now the home of Gallery C .

Person Street Homes Sold

The homes located south of the Murphy School were listed for sale by the State in 2015 and they are under contract

Elan City Center Apartments

Almost complete, the apartments at the corner of Polk and Wilmington streets are about to open. 

Holy Trinity Church

Completed in 2015, the church is now open

Peace Street Townes

The 17 townhouses fronting Peace Street closed in 2015. This was originally going be a 4 story condo building in the earlier plan with $600k condos, so I'm sure the buyers here appreciated the more accessible pricing. Smaller 2 bedroom units sold in the mid $200's.

Now that this neighborhood is completed, let's hope that Gov McCrory's Project Phoenix will further activate the north end of town and the Government Complex to better connect it to the city core.