Raleigh NC Million Dollar Homes and Luxury Home Sales


Luxury Home Market; Second Quarter Summary

The information contained in this report presents data and analysis of the luxury home market segment within the Triangle.
This market is defined as having residential housing priced at $500,000 and above. The data was obtained from TMLS, the Durham, Orange, Chatham and Wake County Revenue Departments, and my databases. The following are answers to the most frequently asked questions.

How long are luxury houses taking to sell?
The average days on market for all luxury houses was 139 days, compared to 139 days during 2Q/11.

Is initial list price important in the luxury segment?
As with any other segment in our market, the correct initial pricing of a listing is very important. Quarterly closings where
the original list price was equal to the final list price sold in an average of 84 days at 97% of list. Quarterly closings where
the original list price was higher than the final list price sold in an average of 256 days at 88% of original list.

Locations: SD Subdivisions

SD/2Q12Showings/#Listings/AveLP/AvgDOM/ShowList
Preston 609 87 $805,691 139 7
Governors Club 449 125 $742,560 204 4
Wakefield 275 55 $1,071,576 112 5
North Ridge 246 36 $860,436 152 7
Cary Park 225 25 $589,272 108 9
Budleigh 218 40 $989,140 97 5
Cameron Pond 204 38 $573,822 151 5
Meadowmont 194 44 $801,216 88 4
MacGregor Downs 189 32 $837,541 110 6
The Preserve at Jordan Lak 183 59 $629,729 110 3
Lake Hogan Farms 181 18 $711,444 71 10
Brier Creek 173 36 $767,933 141 5
Lochmere 124 18 $641,906 168 7
Copperleaf 120 28 $825,531 108 4
Hortons Creek 118 11 $524,045 279 11
Southern Village 116 13 $719,077 64 9
Hasentree 115 27 $1,240,988 153 4
Weycroft 114 10 $565,790 212 11
MacGregor West 113 16 $711,125 93 7
Country Club Hills 108 21 $1,323,181 50 5
The Reserve 104 11 $660,336 90 9
Bella Casa 101 21 $572,905 137 5
Drewry Hills 99 17 $863,529 207 6
Ethans Glen 99 13 $581,654 92 8
Southpoint Manor 96 19 $562,379 86 5
The Oaks 92 20 $1,163,385 124 5
Heritage Wake Forest 88 17 $589,329 161 5
Wyndfall 87 12 $648,967 84 7
Brier Creek Country Club 86 18 $694,533 137 5
Chatsworth 84 17 $1,065,259 177 5
Colvard Farms 84 24 $710,683 186 4
Anderson Heights 80 14 $732,429 118 6
GreyHawk Landing 78 15 $791,387 79 5
Jamison Park 74 9 $684,189 73 8
Cross Gate 73 8 $632,825 244 9
Papillon Park 72 14 $617,221 179 5
Chesley 70 9 $808,178 129 8
Wessex 70 12 $714,383 175 6
Devon 69 10 $1,209,800 224 7
The Registry 69 13 $1,204,915 144 5

Group Summary 12419 2677 $771,242 153 5

Source: TARR

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About Raleigh Homes Info

Greetings, My name is Tom Bohlmann. I am Allen Tate Realtor / Broker in the Raleigh, Durham, Wake Forest, Cary North Carolina areas. Your Home Search starts here: http://www.allentate.com/tombohlmann I have been involved in the Raleigh area real estate investing since 1995. I know all the ins and outs of many many different area markets that the average or even above average Realtor does not know. Give me a call or email so we can talk about your Real Estate Needs. Tom 919-543-5714
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