CookeProperty
A LOCAL REAL ESTATE MARKET UPDATE November 2019
personally created by
the
2
Reader,
What a wild ride 2019 has been! Low inventory across the region led to competitive bidding situations, and in some price ranges an extremely low average for total days on the market. In some areas, the average was fewer than 17 days on the market. This market shift has been highly beneficial to smart sellers and frustrating for many buyers. Though it is difficult to predict whether the trend will continue into 2020, there are indicators that point to a similar market this spring.
A few tips for sellers who are looking to sell their home in this market:
(1) Price your home correctly on day one. It may be tempting to try to push the boundary of what you think you can get for your home, but fairly pricing a home often brings multiple offers and drives up the price. Whereas pricing too high will make a house languish on the market and the eventual sales price will be lower than expected.
(2) Make sure your home shows its best. Proper "staging" and photography bring in buyers.
(3) Don't lose a sale during the due diligence period. Know the condition of your home and make repairs prior to the first showing.
As for buyers, have your financing and preapproval letter ready to go. It may be necessary to move quickly to get the house you want. Also, be patient. New homes come on the market every day, and you will find the right one.
As we progress toward the holiday season, we would like to say a special thanks to our readers, clients, and friends who allow us to continually be successful, no matter the market. And a special thank you for your referrals. You have made us two of the most successful real estate agents in the Triangle for decades.
We wish everyone a Happy Holiday and prosperous New Year!
Lucia and Allison
If you would like to be removed from our mailing list, please let me know by email at: luciacooke@gmail.com
Dear
3
4
Sales in past 12 months
Orange County: all detached homes
2019 Overview
Average Sales Price
Sale Price/List Price Ratio
2019 1,353 $435,982 98%
2018 1,347 $431,626 98%
Orange County: all detached homes priced at or over $700,000
2019 168 $933,034 97%
2018 150 $977,266 97%
Orange County: all attached homes (condominiums and townhomes)
2019 340 $271,416 99%
2018 504 $242,781 99%
Durham County: all detached homes
2019 3,985 $313,516 99%
2018 3,828 $295,253 99%
Durham County: all detached homes priced at or over $700,000
2019 91 $988,488 97%
2018 75 $968,666 98%
Durham County: all attached homes (condominiums and townhomes)
2019 1,229 $241,609 100%
2018 1,204 $227,987 100%
5
2019 Overview continued
Sales in past 12 months Average Sales Price
Wake County: all detached homes
Sale Price/List Price Ratio
2019 16,248 $528,520 108%
2018 15,488 $463,739 99%
Wake County: all detached homes priced at or over $700,000
2019 1,069 $1,322,386 187%
2018 906 $927,031 98%
Wake County: all attached homes (condominiums and townhomes)
2019 4,045 $261,174 99%
2018 4,748 $242,472 100%
Chatham County: all detached homes
2019 1,263 $444,447 98%
2018 1,207 $423,952 98%
Chatham County: all detached homes priced at or over $700,000
2019 105 $891,223 99%
2018 96 $936,181 98%
Chatham County: all attached homes (condominiums and townhomes)
2019 62 $257,611 98%
2018 61 $257,473 98%
6
Market Report
All data is from Triangle MLS. The search periods were as follows: PAST 11/1/2017 to 11/1/2018
RECENT 11/1/2018 to 11/1/2019
The absorption rate is derived by dividing the active listings by the average number of sales per month in each price category.
7
Price
Range less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999 $800,000$899,999 $900,000$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 0 0 0 0 0 2 1 1 0 0 0 0 0 0 0 0 1 0 0 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 0 0 0 0 0 230 223 308 0 0 0 0 0 0 0 0 228 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 279 0 309 315 0 0 1 0 0 0 1 0 0 1 0 0 1 0 0 1 0 1 1 2 0 0 365 0 0 0 230 0 0 249 0 0 168 0 0 197 0 200 289 215 0 0 1 4 9 2 2 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 302 328 373 379 484 0 0 0 0 0 0 250 0 0 0 0 0 0 0 5 27 56 40 36 25 31 23 9 0 5 48 47 63 26 37 19 12 12 0 147 183 183 188 201 199 198 227 245 0 166 172 183 187 211 194 222 210 215 4 86 43 9 4 1 3 2 4 2 0 25 16 4 0 1 0 4 1 0 89 140 197 200 233 311 241 213 218 240 0 136 166 190 0 270 0 209 140 0 8
Absorption Rate
than $100,000
3
rate: 9 months
- $199,999
inventory: 7
rate: .92 months
- $299,999
inventory: 8
rate: 1.3 months
- $399,999
inventory: 12
rate: 2.1 months
- $499,999
inventory: 9
rate: 2 months
- $599,999
inventory: 12
rate: 3.6 months
- $699,999
inventory: 6 absorption rate: 2.2 months
- $799,999
inventory: 13 absorption rate: 4.6 months
$800,000 - $899,999
inventory: 6 absorption rate: 2.6 months
- $999,999
inventory: 8 absorption rate: 8 months
- $1,499,999
inventory: 11 absorption rate: 6.6 months
- $2,000,000
inventory: 7 absorption rate: 9.8 months
than $2,000,000
inventory: 1 absorption rate: 6.3 months
East Chapel Hill High School
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 2 0 0 2 0 0 291 0 0 272 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 244 0 260 0 1 0 0 0 0 0 563 0 0 0 0 16 4 2 16 3 3 246 315 385 259 348 353 2 0 0 1 0 0 193 0 0 186 0 0 less
current inventory:
absorption
$100,000
current
absorption
$200,000
current
absorption
$300,000
current
absorption
$400,000
current
absorption
$500,000
current
absorption
$600,000
current
$700,000
current
current
$900,000
current
$1,000,000
current
$1,500,000
current
greater
current
9
Price
Range less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999 $800,000$899,999 $900,000$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 0 0 4 9 6 4 5 2 0 0 0 0 14 28 15 4 1 0 0 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 0 0 203 169 193 226 194 205 0 0 0 0 228 207 200 195 173 215 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 154 0 0 0 0 0 0 0 0 0 0 0 1 3 5 8 0 1 1 1 0 0 0 0 6 7 3 0 0 0 0 0 224 158 165 187 0 180 210 220 0 0 0 0 169 181 159 0 0 0 0 1 5 5 0 0 0 0 0 0 0 1 5 5 0 0 0 0 0 0 0 110 165 166 0 0 0 0 0 0 0 114 168 168 0 0 0 0 0 0 0 6 41 63 58 35 14 7 4 1 0 9 32 60 47 26 22 11 5 0 0 189 195 213 176 184 198 197 159 168 0 158 199 188 164 159 187 184 175 0 5 29 23 16 1 0 0 0 0 0 0 8 8 15 1 0 0 0 0 0 132 168 170 151 117 0 0 0 0 0 0 126 134 129 115 0 0 0 0 0 10
than $100,000
0
$100,000 - $199,999
inventory: 3
active inventory
rate: 1 months
- $299,999
inventory: 7 absorption rate: 1.2 months
$300,000 - $399,999
inventory: 11
rate: 1.5 months
- $499,999
inventory: 8
rate: 1.3 months
- $599,999
inventory: 13
rate: 3.2 months
- $699,999
inventory: 11 absorption rate: 7.3 months
$700,000 - $799,999
inventory: 3 absorption rate: 2.7 months
$800,000 - $899,999
inventory: 2 absorption rate: 3.4 months
$900,000 - $999,999 current inventory: 1 absorption rate: 6 months
- $1,499,999
inventory: 1 absorption rate: 2 months
Absorption Rate Chapel Hill High School
- $2,000,000
inventory: 1 absorption rate: no sales to compare greater than $2,000,000
inventory: 1 absorption rate: no sales to compare
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 0 0 1 0 0 265 0 0 161 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4 0 0 3 1 0 244 0 0 200 291 0 0 0 0 0 0 0 0 0 0 0 0 0 less
current inventory:
absorption rate: no
current
absorption
$200,000
current
current
absorption
$400,000
current
absorption
$500,000
current
absorption
$600,000
current
current
current
$1,000,000
current
$1,500,000
current
current
11
Price
Range less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999 $800,000$899,999 $900,000$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 0 0 0 0 0 1 2 0 0 0 0 0 0 0 0 1 1 0 0 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 0 0 0 0 0 191 200 0 0 0 0 0 0 0 0 161 184 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 2 0 0 0 0 0 0 0 0 187 0 189 0 0 0 0 0 0 0 0 196 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4 27 14 29 18 12 6 9 2 0 5 21 13 25 16 15 9 5 2 0 146 180 159 175 173 186 224 178 198 0 156 188 165 182 185 199 198 192 233 1 29 10 9 3 0 0 0 0 0 0 23 10 7 3 0 0 0 0 0 88 165 188 228 205 0 0 0 0 0 0 136 168 199 177 0 0 0 0 0 12
Absorption Rate
than $100,000
0
rate: no active inventory
$100,000 - $199,999
inventory: 0 absorption rate: no active inventory
$200,000 - $299,999
inventory: 6 absorption rate: 1.9 months
$300,000 - $399,999
inventory: 3
rate: 1.5
- $499,999
inventory: 7
rate: 2.6 months
- $599,999
inventory: 3 absorption rate: 1.9 months
- $699,999
inventory: 3 absorption rate: 2.7 months
$700,000 - $799,999
inventory: 1 absorption rate: 1.3 months
$800,000 - $899,999 current inventory: 3 absorption rate: 4 months
- $999,999 current inventory: 1 absorption rate: 6 months
- $1,499,999 current inventory: 4 absorption rate: 8 months
$1,500,000 - $2,000,000
inventory: 0 absorption rate: no active inventory greater than $2,000,000
inventory: 0 absorption rate: no active inventory
Carrboro High School
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 2 0 0 0 0 0 321 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 5 0 0 271 0 0 242 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 0 0 3 0 0 186 0 0 196 0 0 0 0 0 0 0 0 0 0 0 0 0 0 less
current inventory:
absorption
current
current
current
absorption
$400,000
current
absorption
$500,000
current
$600,000
current
current
$900,000
$1,000,000
current
current
13
Price
Range less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999 $800,000$899,999 $900,000$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 0 19 1 0 2 4 1 0 0 0 0 15 2 7 3 7 3 0 1 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 0 124 126 0 172 182 176 0 0 0 0 124 148 117 154 170 149 0 214 0 0 102 5 0 0 0 0 0 0 0 0 73 2 0 0 0 0 0 0 0 0 142 161 0 0 0 0 0 0 0 0 135 152 0 0 0 0 0 0 0 2 25 4 9 2 1 1 1 1 0 6 9 5 3 1 0 0 0 0 0 117 108 162 149 189 206 252 211 356 0 104 97 142 140 150 0 0 0 0 0 1 8 2 0 0 0 0 0 0 0 0 7 2 0 0 0 0 0 0 0 135 130 136 0 0 0 0 0 0 0 0 128 136 0 0 0 0 0 0 1 25 57 47 17 11 8 2 3 0 3 37 59 33 12 12 11 1 0 0 53 139 161 160 160 168 202 209 222 0 48 129 157 161 154 166 171 217 0 0 0 2 0 0 0 0 0 0 0 0 0 2 1 0 0 0 0 0 0 0 0 132 0 0 0 0 0 0 0 0 0 93 110 0 0 0 0 0 0 0 14
Absorption Rate
than $100,000
inventory: 0 absorption rate: no active inventory
$100,000 - $199,999
inventory: 7 absorption rate: 2.7 months
$200,000 - $299,999 current inventory: 40 absorption rate: 2.3 months
$300,000 - $399,999 current inventory: 4 absorption rate: .8 months
$400,000 - $499,999 current inventory: 9 absorption rate: 4.2 months
$500,000 - $599,999 current inventory: 2 absorption rate: 1.5 months
$600,000 - $699,999 current inventory: 1 absorption rate: .9 months
$700,000 - $799,999 current inventory: 1 absorption rate: 3 months
$800,000 - $899,999 current inventory: 3 absorption rate: 9.1 months
$900,000 - $999,999 current inventory: 0 absorption rate: no active inventory
$1,000,000 - $1,499,999 current inventory: 2 absorption rate: 24.1 months
$1,500,000 - $2,000,000 current inventory: 1 absorption rate: 12 months greater than $2,000,000 current inventory: 0 absorption rate: no active inventory
Cedar Ridge High School
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 3 0 1 254 212 304 202 0 335 0 0 0 0 0 0 0 0 0 0 0 0 less
current
current
15
Price Range
less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999 $800,000$899,999 $900,000$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 0 24 30 14 3 0 2 0 0 0 0 18 24 23 7 2 1 1 1 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 0 134 176 189 148 0 198 0 0 0 0 142 165 170 172 167 197 207 230 0 6 16 6 8 0 0 0 0 0 0 1 16 8 0 0 0 0 0 0 0 149 137 273 303 0 0 0 0 0 0 143 133 175 0 0 0 0 0 0 0 2 12 9 17 3 5 0 1 0 0 7 11 7 13 7 0 1 0 0 0 109 117 131 148 155 185 0 196 0 0 111 103 126 147 146 0 172 0 0 0 2 10 2 0 0 0 0 0 0 0 2 6 0 0 0 0 0 0 0 0 151 132 138 0 0 0 0 0 0 0 126 125 0 0 0 0 0 0 0 10 65 80 56 23 18 3 5 2 2 16 83 69 55 23 17 5 8 1 1 76 122 148 145 163 178 208 247 220 269 63 120 138 158 149 157 182 229 227 164 0 5 4 0 0 0 0 0 0 0 0 1 5 0 0 0 0 0 0 0 0 109 11 5 0 0 0 0 0 0 0 0 116 118 0 0 0 0 0 0 0 16
than $100,000
inventory: 0 absorption rate: no active inventory
$100,000 - $199,999 current inventory: 9 absorption rate: 1.1 months
$200,000 - $299,999 current inventory: 2 absorption rate: 1.6 months
$300,000 - $399,999 current inventory: 28 absorption rate: 3.3 months
$400,000 - $499,999 current inventory: 20 absorption rate: 3.9 months
$500,000 - $599,999 current inventory: 6 absorption rate: 3 months
$600,000 - $699,999 current inventory: 2 absorption rate: 3 months
$700,000 - $799,999 current inventory: 5 absorption rate: 8.6 months
$800,000 - $899,999 current inventory: 4 absorption rate: 16 months
$900,000 - $999,999 current inventory: 1 absorption rate: 6 months
Absorption Rate Orange High School
$1,000,000 - $1,499,999 current inventory: 7 absorption rate: no sales to compare
$1,500,000 - $2,000,000 current inventory: 0 absorption rate: no active inventory greater than $2,000,000 current inventory: 1 absorption rate: no sales to compare
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 263 376 0 0 0 0 0 0 0 0 0 0 0 0 0 less
current
17
Price Range
less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999 $800,000$899,999 $900,000$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 1 41 11 6 1 0 0 0 0 0 0 3 15 9 3 1 0 0 0 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 133 138 179 182 223 0 0 0 0 0 0 159 176 202 177 148 0 0 0 0 35 3 1 0 0 0 0 0 0 0 4 3 1 0 0 0 0 0 0 0 89 135 140 0 0 0 0 0 0 0 141 135 231 0 0 0 0 0 0 0 4 28 10 4 2 1 0 0 0 0 14 24 9 1 0 0 0 0 0 76 126 116 127 170 224 155 0 0 0 76 114 105 107 167 0 0 0 0 0 0 7 5 0 0 0 0 0 0 0 0 16 4 0 0 0 0 0 0 0 0 101 126 0 0 0 0 0 0 0 0 102 121 0 0 0 0 0 0 0 17 165 244 93 36 10 1 3 3 1 34 172 202 83 26 16 5 1 0 1 85 128 138 148 138 180 141 153 192 142 77 119 125 139 165 121 139 122 0 87 2 13 8 0 1 0 0 0 0 0 2 18 1 0 1 1 0 0 0 0 106 110 110 0 96 0 0 0 0 0 92 95 99 0 119 120 0 0 0 0 18
Absorption Rate
than $100,000
inventory: 2 absorption rate: 1.2 months
$100,000 - $199,999 current inventory: 18 absorption rate: .96 months
$200,000 - $299,999 current inventory: 52 absorption rate: 1.9 months
$300,000 - $399,999 current inventory: 23 absorption rate: 2.4 months
$400,000 - $499,999 current inventory: 18 absorption rate: 4.6 months $500,000 - $599,999 current inventory: 19 absorption rate: 17.5 months
$600,000 - $699,999 current inventory: 5 absorption rate: 30 months
$700,000 - $799,999 current inventory: 4 absorption rate: 16 months
$800,000 - $899,999 current inventory: 1 absorption rate: 4 months
$900,000 - $999,999 current inventory: 0 absorption rate: no current inventory
$1,000,000 - $1,499,999 current inventory: 1 absorption rate: 3 months
$1,500,000 - $2,000,000 current inventory: 0 absorption rate: no active inventory greater than $2,000,000 current inventory: 0 absorption rate: no active inventory
Northern High School
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4 0 0 1 0 0 203 0 0 132 0 0 0 0 0 0 0 0 0 0 0 0 0 0 less
current
19
Price
Range less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999 $800,000$899,999 $900,000$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 2 4 8 20 9 14 3 0 0 0 3 0 12 21 9 6 2 2 0 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 178 162 181 170 182 199 271 0 0 0 174 0 200 214 172 241 214 306 0 0 1 18 6 6 2 1 4 2 2 0 0 2 0 5 0 0 0 0 0 0 415 167 334 321 512 471 524 456 486 0 0 163 0 176 0 0 0 0 0 0 0 6 7 4 4 0 3 2 0 0 3 8 3 2 0 1 1 0 1 0 0 137 163 168 217 0 187 203 0 0 122 158 231 130 0 266 163 0 253 0 5 34 2 0 1 1 0 0 1 0 5 25 2 0 0 0 0 0 0 0 119 167 168 0 440 357 0 0 485 0 113 163 292 0 0 0 0 0 0 2 82 199 103 46 20 7 5 4 4 9 134 208 77 45 21 9 6 2 2 78 144 167 190 202 221 230 251 210 284 71 130 161 185 190 193 225 224 291 246 0 89 16 9 1 0 0 1 0 0 14 56 4 0 0 1 0 0 0 0 0 137 160 213 176 0 0 305 0 0 91 109 1 51 128 0 196 0 0 0 0 20
than $100,000
2
$100,000 - $199,999
inventory: 14
months
rate: .93 months
$200,000 - $299,999
inventory: 31
rate: 1.3 months
$300,000 - $399,999
inventory: 20
rate: 1.8 months
- $499,999
inventory: 13
rate: 2 months
- $599,999
inventory: 26
rate: 8.7 months
- $699,999
inventory: 6 absorption rate: 3.1 months
$700,000 - $799,999
inventory: 7 absorption rate: 5.3 months
$800,000 - $899,999 current inventory: 9 absorption rate: 13.6 months
$900,000 - $999,999 current inventory: 2 absorption rate: 3.4 months
Absorption Rate Riverside High School
$1,000,000 - $1,499,999 current inventory: 6 absorption rate: 5.5 months
$1,500,000 - $2,000,000
inventory: 1 absorption rate: 3 months
than $2,000,000
inventory: 0 absorption rate: no active inventory
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 0 0 0 0 0 0 0 0 0 0 0 0 10 3 0 0 0 0 559 556 0 0 0 0 0 1 0 1 0 0 0 285 0 246 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 0 0 0 0 0 271 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 less
current inventory:
absorption rate: 12
current
absorption
current
absorption
current
absorption
$400,000
current
absorption
$500,000
current
absorption
$600,000
current
current
current
greater
current
21
Price Range
less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999 $800,000$899,999 $900,000$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 0 5 14 51 33 10 1 1 0 0 0 1 23 61 13 4 1 2 0 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 0 200 205 190 179 194 191 332 0 0 0 189 178 181 194 196 220 224 0 0 0 39 76 0 0 0 0 0 0 0 0 13 39 0 0 0 0 0 0 0 0 159 146 0 0 0 0 0 0 0 0 152 137 0 0 0 0 0 0 0 2 4 25 31 13 6 8 1 0 0 1 11 27 40 17 4 3 3 1 0 171 148 160 154 171 187 179 185 0 0 163 152 146 149 171 136 159 190 177 0 0 4 8 2 1 0 0 0 0 0 3 4 3 4 1 0 0 0 0 0 0 193 171 169 187 0 0 0 0 0 139 169 158 173 163 0 0 0 0 6 50 210 234 100 34 24 8 11 6 17 47 266 229 72 43 22 18 3 4 80 141 165 157 162 187 192 196 227 217 67 138 153 149 158 193 198 192 206 190 2 196 95 15 0 0 1 0 0 0 4 131 63 7 1 0 0 0 0 0 76 138 141 179 0 0 233 0 0 0 88 124 128 138 176 0 0 0 0 0 22
Absorption Rate
than $100,000
0
rate: no active inventory
- $199,999
inventory: 21
rate: 1 months
- $299,999
inventory: 34
rate: 1.1 months
$300,000 - $399,999
inventory: 49 absorption rate: 1.7 months
- $499,999
inventory: 32
rate: 2.1 months
- $599,999
inventory: 25 absorption rate: 3.7 months
- $699,999
inventory: 16 absorption rate: 4.8 months
- $799,999
inventory: 5 absorption rate: 3.3 months
$800,000 - $899,999
inventory: 2 absorption rate: 1.9 months
- $999,999 current inventory: 2 absorption rate: 4 months
- $1,499,999
inventory: 7 absorption rate: 7.7 months
- $2,000,000
inventory: 2 absorption rate: 8 months greater than $2,000,000
inventory: 1 absorption rate: 4 months
Jordan High School
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 2 1 1 2 2 0 217 221 284 260 235 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 202 0 0 232 232 0 0 0 0 0 0 0 0 0 0 0 0 0 8 2 2 4 2 0 253 299 320 208 179 0 0 0 0 0 0 0 0 0 0 0 0 0 less
current inventory:
absorption
$100,000
current
absorption
$200,000
current
absorption
current
$400,000
current
absorption
$500,000
current
$600,000
current
$700,000
current
current
$900,000
$1,000,000
current
$1,500,000
current
current
23
Price Range
-
$900,000 -
less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999 $800,000
$899,999
$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 0 9 94 26 3 0 0 0 0 0 0 22 74 26 2 0 0 0 0 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 0 169 157 150 152 0 0 0 0 0 0 140 149 162 171 0 0 0 0 0 0 185 59 2 0 0 0 0 0 0 0 180 48 2 0 0 0 0 0 0 0 144 146 150 0 0 0 0 0 0 0 152 150 145 0 0 0 0 0 0 0 26 31 17 3 1 0 0 0 0 1 36 13 14 1 0 0 0 0 0 0 132 145 173 145 0 0 0 0 0 114 121 154 153 223 0 0 0 0 0 13 76 14 0 0 0 0 0 0 0 27 66 1 0 0 0 0 0 0 0 139 137 138 0 0 0 0 0 0 0 133 133 133 0 0 0 0 0 0 24 125 277 107 3 1 0 0 0 0 42 153 270 58 5 1 0 0 0 0 80 127 147 139 128 133 0 0 0 0 69 118 135 129 125 109 0 0 0 0 5 96 54 0 0 0 0 0 0 0 5 83 35 0 0 0 0 0 0 0 106 129 131 0 0 0 0 0 0 0 100 123 128 0 0 0 0 0 0 0 24
Absorption Rate
less than $100,000
inventory: 4 absorption rate: 2.4 months
$100,000 - $199,999 current inventory: 33 absorption rate: 1.7 months
$200,000 - $299,999 current inventory: 112 absorption rate: 2.1 months
$300,000 - $399,999 current inventory: 49 absorption rate: 1.9 months
$400,000 - $499,999 current inventory: 13 absorption rate: 3.3 months
$500,000 - $599,999 current inventory: 4 absorption rate: 6.9 months
$600,000 - $699,999 current inventory: 1 absorption rate: 12 months
$700,000 - $799,999 current inventory: 1 absorption rate: no sales to compare
$800,000 - $899,999 current inventory: 0 absorption rate: no current inventory
$900,000 - $999,999 current inventory: 0 absorption rate: no current inventory
$1,000,000 - $1,499,999 current inventory: 0 absorption rate: no current inventory
$1,500,000 - $2,000,000 current inventory: 0 absorption rate: no current inventory greater than $2,000,000 current inventory: 0 absorption rate: no current inventory
Hillside High School
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
current
25
Price
Range less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999 $800,000$899,999 $900,000$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 0 26 103 132 80 54 31 19 5 0 0 38 112 122 67 44 27 9 1 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 0 166 161 175 181 190 200 204 200 0 0 165 161 173 180 184 197 180 194 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 162 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15 79 72 32 20 8 4 1 0 0 23 123 57 28 16 8 7 4 0 0 155 163 158 159 162 189 180 159 0 0 151 162 153 140 169 159 180 198 0 3 14 7 0 0 0 0 0 0 0 16 4 0 0 0 0 0 0 0 0 145 157 213 0 0 0 0 0 0 0 126 164 133 0 0 0 0 0 0 55 19 99 113 89 57 36 16 6 2 6 30 76 84 85 47 21 15 6 5 56 135 157 166 160 156 166 172 170 163 56 125 155 160 164 154 167 155 163 183 0 9 24 8 0 0 0 0 0 0 0 5 23 2 1 0 0 0 0 0 0 139 140 152 0 0 0 0 0 0 0 140 140 150 108 0 0 0 0 0 26
Absorption Rate
than $100,000
0
rate: no active inventory
- $199,999
inventory: 7
rate: 2.1 months
- $299,999
inventory: 17 absorption rate: 1.1 months
- $399,999
inventory: 58
rate: 2.2 months
- $499,999
inventory: 72
rate: 3 months
- $599,999
inventory: 95 absorption rate: 6.7 months
- $699,999
inventory: 54 absorption rate: 6 months
- $799,999
inventory: 33 absorption rate: 7.2 months
$800,000 - $899,999 current inventory: 17 absorption rate: 7.1 months
$900,000 - $999,999 current inventory: 15 absorption rate: 22.7 months
- $1,499,999
inventory: 23 absorption rate: 69.7 months
- $2,000,000
inventory: 3 absorption rate: 12 months greater than $2,000,000
inventory: 5 absorption rate: 31.3 months
Northwood High School
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 2 0 0 4 0 0 246 0 0 260 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 2 0 0 0 214 0 225 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 2 2 5 0 1 228 221 326 173 0 454 0 0 0 0 0 0 0 0 0 0 0 0 less
current inventory:
absorption
$100,000
current
absorption
$200,000
current
$300,000
current
absorption
$400,000
current
absorption
$500,000
current
$600,000
current
$700,000
current
$1,000,000
current
$1,500,000
current
current
27
Price Range
$599,999 $600,000$699,999 $700,000$799,999 $800,000$899,999 $900,000$999,999
$500,000
less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999
-
New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 1 1 158 356 266 142 102 43 21 0 0 1 95 279 227 107 84 34 7 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 129 165 162 158 162 173 173 177 189 0 0 143 161 155 157 166 186 187 178 0 0 101 413 56 10 4 0 0 0 0 0 149 361 64 7 0 0 2 0 0 0 150 157 166 196 214 0 0 0 0 0 147 156 158 197 0 0 188 0 0 0 8 83 161 73 35 19 6 5 0 0 7 153 178 70 39 20 8 5 0 0 167 154 148 147 157 168 173 190 0 0 153 153 146 146 159 159 166 190 0 0 142 120 13 0 1 1 1 0 0 10 260 120 11 1 1 0 1 0 0 0 152 150 154 0 177 202 179 0 0 137 144 146 146 149 153 0 230 0 0 18 399 759 384 161 92 43 18 13 2 38 501 701 334 121 71 31 19 7 0 156 170 163 149 158 168 163 171 212 67 142 160 153 146 158 165 176 185 226 0 206 283 67 9 6 4 3 0 0 0 173 186 48 2 0 2 2 0 0 0 134 148 148 153 156 175 182 0 0 0 136 140 143 174 0 196 186 0 0 28
Absorption Rate
than $100,000
inventory: 0
rate: no active inventory
- $199,999
inventory: 16
rate: .8 months
- $299,999
inventory: 105 absorption rate: 1.3 months
- $399,999
inventory: 284 absorption rate: 2.8 months
- $499,999
inventory: 169 absorption rate: 2.1 months
- $599,999
inventory: 84 absorption rate: 2 months
- $699,999
inventory: 94 absorption rate: 4.1 months
- $799,999
inventory: 64 absorption rate: 3.8 months
$800,000 - $899,999 current inventory: 23 absorption rate: 4.1 months
- $999,999 current inventory: 9 absorption rate: 2.8 months
- $1,499,999 current inventory: 18 absorption rate: 4.9 months
- $2,000,000 current inventory: 5 absorption rate: 15.2 months greater than $2,000,000
inventory: 4 absorption rate: 16 months
Cary, Morrisville &
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 23 1 1 20 4 0 228 262 315 221 289 0 0 0 0 0 0 0 0 0 0 0 0 0 5 1 1 10 0 0 207 243 243 213 0 0 0 0 0 1 0 0 0 0 0 201 0 0 15 2 1 11 3 5 231 245 293 236 242 276 1 0 0 0 0 215 0 0 0 0 0 less
current
absorption
$100,000
current
absorption
$200,000
current
$300,000
current
$400,000
current
$500,000
current
$600,000
current
$700,000
current
$900,000
$1,000,000
$1,500,000
current
Apex Areas 005, 010, and 015 29
Price Range
$800,000
less than $100,000 $100,000$199,999 $200,000$299,999 $300,000$399,999 $400,000$499,999 $500,000$599,999 $600,000$699,999 $700,000$799,999
$899,999 $900,000$999,999 New Construction Single-Family Number of Sales Price per Sq Ft New Construction Townhomes and Condominiums Number of Sales Price per Sq Ft Single-Family Resale less than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums less than 10 years old Number of Sales Price per Sq Ft Single-Family Resale more than 10 years old Number of Sales Price per Sq Ft Townhomes and Condominiums more than 10 years old Number of Sales Price per Sq Ft 0 0 1 17 22 23 50 61 34 11 0 0 4 10 27 45 63 60 26 7 recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past recent past 0 0 143 222 196 198 200 224 227 248 0 0 142 179 181 192 208 215 228 238 0 0 79 21 4 11 2 1 1 0 0 0 23 12 26 8 1 0 0 0 0 0 146 186 317 339 386 337 309 0 0 0 142 146 238 306 363 0 0 0 0 0 1 17 24 32 24 19 19 8 0 1 4 44 28 28 26 30 17 7 0 0 162 164 188 201 208 235 232 252 0 92 135 156 171 199 184 207 212 216 0 14 135 28 13 10 3 0 0 0 0 33 128 30 17 8 2 0 0 0 0 134 153 189 233 215 227 0 0 0 0 126 144 155 182 226 206 0 0 0 2 60 480 527 303 169 105 54 41 21 1 87 500 510 292 157 87 52 32 25 110 149 166 179 195 209 227 222 236 233 71 137 155 181 194 208 206 212 229 249 67 591 517 113 41 16 5 4 3 1 7 394 321 66 23 6 1 1 0 0 89 130 150 192 251 241 289 339 331 439 77 124 137 161 162 174 225 208 0 0 30
Absorption Rate
$100,000
months
$199,999
rate: .76 months
- $299,999
84
rate: .83 months
- $399,999
inventory: 100
rate: 1.7 months
- $499,999
81
rate: 2.4 months
- $599,999
inventory: 49
rate: 2.3 months
- $699,999
inventory: 39
rate: 2.5 months
- $799,999
inventory: 43 absorption rate: 3.7 months
- $899,999
inventory: 36 absorption rate: 4.4 months
- $999,999
inventory: 25 absorption rate: 7.1 months
- $1,499,999
inventory: 42 absorption rate: 6 months
- $2,000,000
inventory: 20 absorption rate: 7.1 months
$2,000,000
inventory: 9
rate:
months
areas
Raleigh
$1,000,000$1,499,999 $1,500,000$2,000,000 greater than $2,000,000 24 16 3 36 6 1 281 329 359 269 308 399 7 2 0 0 0 0 384 429 0 0 0 0 8 4 1 12 3 1 281 318 423 235 265 414 2 0 0 0 0 0 508 0 0 0 0 0 43 12 2 26 5 0 272 308 346 253 300 0 1 0 0 0 0 0 357 0 0 0 0 0 less than
current inventory: 1 absorption rate: .2
$100,000 -
current inventory: 42 absorption
$200,000
current inventory:
absorption
$300,000
current
absorption
$400,000
current inventory:
absorption
$500,000
current
absorption
$600,000
current
absorption
$700,000
current
$800,000
current
$900,000
current
$1,000,000
current
$1,500,000
current
greater than
current
absorption
18
Central
001, 002, and 004 31
W here it all began was with the land.
History takes us back to Durham in 1929 . . . to what was formally recorded in the register of deeds office as: Plat Book 9, Pages 44 and 45
The property includes “lots 4, 5, and 6 and a greater part of lot 3
Hope Valley Country Club and University Community.”
32
3124 S urrey R oad 33
Great Properties Evolve
They come from great “roots” and great “bones” to become a living entity . . . a place of love and of shelter.
Truly great properties become homes where memories are made that last for generations.
The constants in a property are the land, its unique qualities, and sometimes even the eccentricities that make it resonate with life.
in Hope Valley
When R. J. Mebane and W.E. Sharp conceived the Hope Valley community in the mid-1920s, they had no idea that their creation would become an early prototype of suburban development. Their concept was to create a community that mimicked the English countryside and was set around a golf course. Golf was one of the fastestgrowing American hobbies at that time. To attract buyers, the services of architect George Watts Carr were engaged. As the "most sought-after" architect in Durham at that time, he was to set the tone with English Countrystyled and Tudor Revival-styled homes.
34
3124 Surrey Road has been renewed and enlarged over the years using only the finest construction techniques and consciously maintaining the original architectural integrity.
Offered at $2,900,000
9,085 Heated Sq Ft
Five Bedrooms, Four Full Baths, and One Half Bath
Sited on 3.12 Acres in Historic Hope Valley
35
536 M eadow R un in Arbor Lea 36
This relaxed manor rests on a double lot in a pastoral yet convenient setting known as Arbor Lea. Ceilings are elevated to ten feet and higher. In the great room, the ceilings are painted tongue-and-groove wood, adding a layer of texture that is warm and welcoming. Four fireplaces are scattered throughout the most appreciated rooms . . . the great room, the library, the master suite, and the den. Every bedroom has an en suite bathroom. The master suite and an additional suite are on the main level. An avenue of crepe myrtles line the curved drive.
Offered at $1,100,000
6,463 Heated Sq Ft
Five Bedrooms, Four Full Baths, and One Half Bath Sited on 7.75 Acres in Arbor Lea
37
603 B ooth R oad Oak Crest in Chapel Hill 38
Welcome to a stunning log home in the Heart of Chapel Hill, where warm wood tones combine with accents of stone to feel like a luxurious retreat. The extensive landscaping features boulders, a handlaid stone pathway, perennial gardens, a mature rose garden, extensive ipe deck and gazebo, and a putting green and chipping area. A handcrafted two-story stone fireplace anchors the great room, while specimen hardwood floors dominate the main level and second floor. Enjoy the fire magic Echelon outdoor kitchen & grill. LE Meyers created the custom addition. Perfection. Offered at $800,000
Heated Sq Ft 4,612
Four Bedrooms, Three Full Baths, and Two Half Baths Sited on 2.06 Acres in Oak Crest
39
9 G oldenrod P lace Croasdaile in Durham 40
Immaculate inside and out, sparkling with light and refreshingly spacious rooms, this custom-constructed brick home features vaulted ceilings in the living room and great room. Banks of tall windows show off the manicured landscape and wonderful privacy. There are two bedrooms on the main level (the master suite and a guest suite). In addition to the three bedrooms and two baths on the second floor, there is a bonus room and charming office. Beautifully decorated, the aesthetic is sure to please. Croasdaile offers walking trails, and proximity to Duke University, shopping, dining, and recreation.
Offered at $725,000
4,400 Heated Sq Ft
Five Bedrooms, Four Full Baths Sited on .692 Acres in Croasdaile Farm
Farm
41
3111 B uckingham R oad Hope Valley Durham 42
No photograph can capture the moment, the style, or the lifestyle offered here. If you love light, open rooms, updated baths and kitchen, and Hope Valley amenities and proximity to the best of the Triangle, here is an opportunity too good to miss. We all need a "happy place," where rooms are open to each other, where every room is imbued with polish and good cheer, and where privacy still allows communing with nature. Amenities include a gourmet kitchen, a heated bath floor, hardwood floors throughout, extensive outdoor decks and a stone patio.
Offered at $675,000
3,618 Heated Sq Ft
Four Bedrooms, Three Full Baths, and One Half Bath Sited on .46 Acres in Hope Valley
43
101 O rchard L ane Berryhill
in Carrboro
44
This spacious home in popular Berryhill offers a brick front with new fiver cement siding and roof in 2012. There are cherry floors throughout the main level. The kitchen features cherry cabinets, stainless appliances, and granite counters. A sunroom was added prior to ownership; it is not counted in heated square footage but certainly is a pleasure to enjoy. There is a walk-up third-floor attic for storage or expansion. Expect vaulted ceilings and a private lot with many trees. This home is very convenient to the bus line to Chapel Hill and the University.
Offered at $525,000 3,334 Heated Sq Ft Four Bedrooms, Two Full Baths, and One Half Bath Sited on .49 Acres in Berryhill
45
2437 S edgefield D rive Booker Creek in Chapel Hill 46
Seven oversize skylights throughout the home keep this split-level house in the heart of Chapel Hill light and bright. Wide pine floors throughout, except in bathrooms. Granite countertops and a gas range are found in the kitchen. Flex space off the dining room could be a study, mudroom, play area, or craft room. On the lower level there is a separate recreation room with a masonry fireplace and a separate bedroom with a private kitchenette. Great for apartment potential or entertaining. Don't miss this excellent opportunity in this excellent location.
Offered at $350,000 2,284 Heated Sq Ft
Four Bedrooms, Three Full Baths
Sited on .47 Acres in Booker Creek
47
oon
oming
at Umstead in Raleigh
C
S
Lakes
48
M anorbrook R oad
for something truly exceptional, a home that offers idyllic living in a beautifully constructed and beautifully maintained home? Then look no further. Walk into Umstead Park, bicycle to the NC Museum of and don't fight traffic. With only two short stoplights through gorgeous scenic views, you can be on I-40. This unbelievable home has a first-floor master suite, an open floor plan, and an exterior that will make you smile when your car hits the driveway.
3725
5,133 Heated Sq Ft Four Bedrooms, Four Full Baths, and One Half Bath Sited on .70 Acres Looking
49
oon
oming
Forest Creek II in Chapel Hill
C
S
50
C ollinson D rive
Have you ever dreamed of living in pure privacy, on a high knoll within walking distance of downtown Chapel Hill? Your dream can now be a reality. Note the brick detail that includes a soldier course standing tall at the water table and over the front door, jack arches angled over all the front windows, and a rowlock of brick below all windows. You just can't hide the attention to detail, not even from the front view. Inside, the same attention to detail will make you want to say, "Make this mine."
101
4,011 Heated Sq Ft Five Bedrooms, Four Full Baths and One Half Bath Sited on .70 Acres
51
52
aytripping
There are many enticing venues in the Triangle area to discover that we have not covered in previous magazines or in our book of Local Attractions.
If you don't have a copy of Local Attractions and would like one, just let us know.
But sometimes it is fun to get out of town, to take a day trip, and to explore a destination that is a living history lesson.
Tryon Palace makes North Carolina come alive. The colorful people, the action, the beauty, and the lifestyle lived in the mid 1700s are all captured here.
The following article barely touches the surface of the fun New Bern has to offer. From re-enacted duels to gardening, cooking, and dressmaking, there is something for everyone.
I hope this will entice you to explore.
D
53
History is filled with scoundrels, intrigue, betrayals, and passion. NC history is no exception. Our state is full of rich stories, ripe for novelists like Diana Gabaldon. This slice of North Carolina history comes to life where the Trent and the Neuse rivers converge. By 1700, the Tuscarora Indians had lived on this rich and fertile land for hundreds of years. Their village was named Chattoka, which in the Tuscaroran language means, "where the
TP 54
fish are taken out." It was a comfortable site replete with wildlife, food was in abundance, and the climate was mild. John Lawson, an Englishman, was assured by a friend in London that "Carolina was the best country." Taking his friend's advice, Lawson sailed for Charleston and arrived on August 15, 1700. From Charleston, Lawson joined an expedition into the interior of the Carolina Colony. Much of the way, their group was guided by American Indians. They travelled
55
nearly 600 miles into the wilderness. Lawson took careful notes about the vegetation, the wildlife, and the many Indian tribes he encountered. After his exploration, Lawson settled near the Pamlico River, where he became a very successful land surveyor. Lawson was still enamored with his travels into the wilderness. A New Voyage to Carolina was a book written by Lawson in which he shared his vision with the world. In 1709 he returned to London to oversee the publication of his book. Lawson's book was an instant success, and translations were published in German and French. The resulting publicity attracted many settlers to the colony of North Carolina.
Among those attracted were the Ritter Company, which purchased 19,000 acres of land on the Neuse and Trent rivers. Christoph von Graffenried from Bern, Switzerland organized a colony of Swiss and Palatine immigrants to settle on the purchased land. Among the passengers on their ship across the Atlantic was John Lawson, who promised to show the settlers the way to their new home. While at sea the band of colonists were attacked by French pirates, who stole many of the colonist's needed supplies. The settlers arrived in 1710 and named their new colony New Bern in honor of von Graffenried's home city.
Needless to say, the Tuscarora Indians were not pleased by the influx of Europeans to their native land. In 1711 John Lawson and Christoph von Graffenried travelled north on the Neuse River and were captured by the Tuscarora Indians. Lawson was subjected to ritual tribal torture and killed. Von Graffenried was released. This sparked the bloody Tuscarora War that lasted until 1715. Colonel John Barwell of South Carolina led a small army of soldiers and friendly Indians to assist the new colony. The devastation from multiple attacks forced von Graffenried into financial disaster, and he was forced to sell most of his land.
Settlers started to move back into town. Because New Bern was located between other coastal regions, it became a meeting place for the colonial assembly in 1737. In 1754 colonial governor Edward Dobbs established his residence in New Bern but subsequently moved to the more coastal Brunswick Town.
Christof von Graffenried
T
ryon visionary of the Palace
In 1751 William Tryon entered the militia as a lieutenant, and he was promoted to captain later that year. As was customary in the times, money, not merit, bought and brought rank. Tryon had a daughter by Mary Stanton, of whom little is known. He did not marry Mary but instead married Margaret Wake. Margaret was an heiress with an impressive dowry of $30,000 pounds. After his marriage, Tryon was promoted to become a lieutenant colonel in the British Army. Moving forward through family connections, he became the lieutenant governor of North Carolina. Tryon arrived in North Carolina in 1764 with his wife, his daughter, and his architect John Hawks.
Margaret Wake was a remarkable woman; she avoided the company of women and studied military strategy and religion. She insisted on being addressed as "Your Excellency," just like her husband. It was Margaret Wake who inspired the name of Wake County.
Soon after the Tryon's arrival, Arthur Dobbs, the current governor of North Carolina, died, and William Tryon was appointed by King George III to be the royal governor.
William Tryon moved the colonial residence and government back to New Bern, which was then the largest city in North Carolina and a center of trade and wealth.
The government allocated 5,000 pounds for the construction of the governor's residence and governmental offices within the grounds. But the allocated amount was not sufficient to meet Tryon's lofty expectations.
57
When William Tryon became the royal governor, there was strong opposition in North Carolina to the Stamp Act of 1765. In a political move, the Stamp Act Congress was held when the North Carolina Colonial Assembly was not in session, so delegates could not attend.
In addition, Governor Tryon refused to allow meetings of the NC Assembly from May 1765 until November 1766 to prevent them from passing a resolution in opposition to the Stamp Act.
Governor Tryon stated publicly that he was opposed to the Stamp Act and offered to personally pay the taxes on all stamped paper. Then he changed tactics and requested English troops to enforce the act. Fortunately, the Stamp Act was repealed before any military action was taken.
Meanwhile, John Hawks was designing a royal government residence and seat suitable to Governor Tryon and his specifications. Tryon wanted it to be opulent and grand, to reflect not only his position, but also the rise in recognition of North Carolina in the colonial sphere. The cost of construction rose from 5,000 pounds to 10,000 pounds. To meet the shortage, new taxes were levied. The unpopularity of those taxes is said
TP
58
to have spawned the name "Tryon's Palace." However,to be fair, other royal governor's residences were also called the Governor's Palace." Artisans for construction were brought in from Boston and Philadelphia. Governor Tryon did not believe that North Carolina craftsmen would know how to execute a building of this substance, intricacy, and scale. For its time, Tryon Palace was the epitome of opulence and elegance. It was designed to give respect to the colony and to the royal governor.
And then came the egulators.
R
59
Regulators
In the mid-1700's residents of North Carolina's inland region, or backcountry, believed that the royal government's officials were charging them unfair fees, falsifying records, and generally robbing the citizens to line their own pockets. A movement began to address these issues. They were called "the Regulators," a name that came from the people's desire to regulate their own affairs. One of their complaints was that the less productive land, typically found in the western region, was taxed at the same rate per acre as the more productive coastal land. Herman Husband, the head of the Regulator movement, was a Quaker and therefore opposed to violence as a solution. Most Regulators were proponents of the British Crown, they just wanted to be able to support their families, to keep their land, and most of all. to survive.
Edmund Fanning held many political offices in Orange County. He was despised and seen as corrupt. Frustration grew, and in 1770 a mob seized Fanning - they grabbed him by his heels and pulled him down the stairs of his home, banging his head on each step. Another corrupt official had all of his personal belongings thrown out the windows of his house. As a result, a special court was called for in Hillsborough. The judges were afraid to attend and asked Governor Tryon for protection. In response, Tyron sent a military a force of more than 1,100 men prepared for action. The Regulators assembled an opposing force of 3,700 volunteers, but they were not militia. The volunteers quickly
submitted to the British. Their only request was for a special meeting with governmental officials to discuss governmental abuses and to explain recent events. The Regulators petitioned for compensation for their losses and for a return to their homes. Their request was ignored.
The abuses continued and conditions worsened. Most of the Regulators were farmers. The weather had been dry and crops that their families were dependent on did not produce. Lawyers appointed by the governor seized the Regulators' land when they could not pay their taxes and gave it to friends of the crown. The Regulators became more discontent and Governor Tryon anticipated retaliation.
He launched a second military expedition against the Regulators in 1771 with a force of about 1,000 British men and officers. The British force met almost twice that many Regulators at Alamance. After two hours of fighting, the Regulators had no ammunition, they were exhausted, and they were defeated.
the
. 60
Tryon ordered the execution of seven Regulators. They were accused of the Riot Act, a crime that was temporarily made a capital offense to punish the Regulators. Governor Tryon raised taxes again to pay for the militia's campaign. It wasn't long after the Regulators' Revolt that William Tryon was appointed the royal governor of the state of New York.
As an interesting aside, Tryon and David Matthews (the New York City mayor) conspired to have George Washington kidnapped and to assassinate his chief officers. One of Washington's bodyguards, Thomas Hickey, was involved in the scheme. When imprisoned for counterfeiting, Hickey bragged to a cellmate about the plot. Thankfully, Hickey's ego foiled the plan.
During the Revolutionary War, Tryon was given the rank of major general in the British army. He advocated attacks on civilian targets. General Henry Clinton turned down Tryon's proposals and was indignant when Tryon disobeyed his orders. Tryon was condemned for making war on "women and children."
Tryon's policies were described as savagely brutal on both sides of the conflict.
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the
Tryon Palace is an exquisite example of Georgian architecture, with symmetry throughout. It was considered "a monument of opulence and elegance extraordinary in the American Colonies." The palace highlights the finest construction techniques, materials, and architectural design of the period.
A first glance at the brickwork shows its intricacy. The main buildings and garden walls were all constructed in a Flemish bond design.
This style contains a pattern with one brick laid vertically (called a header) and an adjoining brick laid horizontally (called a stretcher). The masonry process is more time-consuming, the wall is visually appealing, and the combination creates a strong bond. Exterior walls during this period were typically fourteen inches thick. Other details to note are the brick jack arches above the windows, the soldier course of brick separating the first and second floors, and the rowlock of brick on circular elements like the sentry stations in front. All bricks would have been hand-moulded and cured locally.
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Governmental assemblies would have met in this lavishly appointed room. it is where richard caswell, the first Governor of north carolina was sworn into office.
The portraits of King George III and Queen Charlotte are displayed. They were the English monarchs when the palace was built.
Tryon staged a grand gala to celebrate the official opening of the palace on December 5, 1770. Finally, after moving from site to site, the North Carolina Colonys' seat of government was established in an impressive setting.
In 1771 Governor Tryon and his wife, Margaret Wake Tryon, moved to New York. Margaret Wake was said to continue inserting herself in the politics of the day.
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Josiah Martin was the second royal governor to live in the mansion. He is accredited with the purchase of many of the fine furnishings. Most of those furnishings were later sold at auction to raise money for the colonial government.
As the Revolutionary War effort strengthened, Governor Martin sent his wife and children by ship to his uncle's estate, Rockhall, on Long Island, for safety. On May 29, 1775, Martin and his friend Archibald Neilson rode in the governor's coach through open country to Cross Creek and then sailed down the Cape Fear River to Fort Johnston, near Wilmington. From there they safely boarded a ship for New York.
After Martin's retreat, Tryon Palace fell into neglect. Almost two years later (in 1777) Richard Caswell took the oath of office as governor. He set about to restore the buildings and the grounds of the first capitol of our state. However, in 1780, General Cornwallis' soldiers threatened to enter North Carolina.
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Eight tons of lead used in the construction of the palace was removed and melted into musket balls. Securing the freedom of the colonies was more important than saving the palace so long associated with the actions of the crown.
The photos show the carved, cantilevered staircase. Cantilevered stairs have independent steps that are anchored to a bearing wall with the help of pins or bolts. The purpose is to give the impression of floating stairs. Each step supports the weight of the stair above.
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Working rooms
The stables are the only original buildings in existence today. On the evening of February 27, 1798, a torch accidentally ignited dry hay. No one knows exactly how it happened, but the central wing of Tryon Palace burst in flames. Only the stables survived. They are a living legacy to the past. Note that the interior brick walls were constructed in an English bond pattern (a row of headers and a row of stretchers), while the outside walls were Flemish bond. This tells that the exterior walls were probably twenty-four inches deep. It is impressive that when a hurricane struck in September 1769, two-thirds of the buildings in New Bern were lost, but the palace, then not complete but well under roof, survived the storm.
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For a building, a person, or an idea to survive, it needs need sustenance. And much of that sustenance depends on food. Here you see a working kitchen, a scullery kitchen, and a kitchen garden. Each is mesmerizing. The dovecote pictured on the front of the magazine was built because Governor Tryon's favorite meat was dove.
It is hard to step back and see these as pleasures only the wealthy would enjoy. But even the palace servants had a more secure life than many of their contemporaries.
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Private
Rooms for relaxation and refreshing were found upstairs. An oculus (or what we would call a skylight today) lights the staircase and illuminates its detailed moldings and embellishments. The ceiling height on the first floor is fifteen feet and it is twelve feet on the upper level. By comparing the distance from the door to the ceiling in the drawing room at the top right to the master bedroom above, you can see the change from the first to the second floor. Bedrooms were large enough for owners and guests to have their breakfast and supper in their rooms, as was typical of the time. Dinner was served midday in the dining room.
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Above is the master bedroom as it would have been in Governor Tryon's day. Wide-plank heart pine floors are found throughout. They are from the North Carolina long leaf pine.
Above right is the ladies drawing room located on the main floor.
Below right is the ladies dressing room.
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In the 1930s a movement began to restore North Carolina's first capitol. Volunteers located two of John Hawks's original architectural drawings, one in New York and the other in London. Maude Latham grew up playing on the palace grounds and created a foundation to restore Tryon Palace. She established a living trust giving the restoration project $250,000, Maude Latham provided an additional $125,000 for furnishings and bequeathed an additional $1.25 million for the restoration.
Thanks to her efforts, Tryon Palace opened to the public in its original splendor in April 1959. The restoration of the buildings is accurate in every detail, and the furnishings are English and similar to those in the detailed inventories of the royal governors. Pictured here are the formal parterres of the Latham Garden. Statues of the four seasons survey the seasonal displays of spring bulbs, summer annuals, and fall chrysanthemums.
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There are more than sixteen acres of gardens surrounding Tryon Palace today.
To the left is a pleached allee. Pleaching is a term for intertwining branches to form a hedge. Here, yaupon holly, ilex vomitoria, has been pleached across the top of the walkway to create a shady path and a vista of the Trent River. The kitchen garden offers a variety of produce almost year round. Depending on the season, you will find a wide variety of heirloom vegetables, herbs, and fruits.
The picture on page two of this magazine shows the edible hibiscus, and vegetables on the counter in the kitchen (pictured on page 67) were grown here on the grounds.
In addition to those photographed here there is another parterre garden, a wildlife garden that features plants native to North Carolina when the first explorers arrived, a Victorian garden that features exotic plants, a walled garden, and many more.
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The Pepsi Family Center is a virtual time machine that carries visitors back to a river village in North Carolina’s central coastal region in the year 1835. Hands-on interactive activities create an opportunity to step back in time and sail a ship, distill turpentine and produce other naval stores, piece an electronic quilt, and help the shopkeeper find merchandise for customers in the dry goods store.
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New Bern was an important coastal river port into the 19th century. Visit the wharf and join the crew of the Snapdragon as she sets sail on a trade voyage. Every crew member has a unique role, and crew members must work together to help the ship reach its destination safely.
In 1835, the naval stores industry was also a large part of the local economy. Turpentine comes from the pinesap that was plentiful in North Carolina’s extensive pine forests. It was one of the region’s most important products because it was used in the production and waterproofing of wooden ships. At the Turpentine Still in the Family Center Forest, each person has a special job to do, with the goal of producing high-quality turpentine.
And the forest isn’t the only place where work needs to be done. At home in the kitchen, visitors help the cook find ingredients for her recipes, then they watch as food is prepared as it was in 1835. Join a quilting bee in the parlor, and design patterns from squares that will be pieced together to create a beautiful quilt.
Finally, step onto Main Street and help two local merchants who are looking for some extra hands. In the Dry Goods Store, help the shopkeeper as he finds items to fill his customers’ shopping lists. Over in the Print Shop, the printer’s devil is looking for someone to help him finish writing the town newspaper. Then rest on a nearby feather bed.
ready to have fun!
Come
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Tryon Palace has numerous ticket options designed to accommodate families, tour groups, and school groups. The most popular choice for our visitors is the One Day Pass, which allows you to see everything Tryon Palace has to offer, including the Governor’s Palace, Historic Homes, Gardens and the North Carolina History Center.
Additional passes are available for Group tours and special events.
Online ticketing is also available for some special events.
For more information about tickets and events, please call 1-800-767-1560, or visit tryonpalace.org.
Exciting events include:
Re-enactment of the Stanley-Spaight Duel
A variety of seasonal garden tours Fashion / Costume Tours Outlander Tours Candlelight Tours Holiday Decor Museum Technology Summer Camps for all ages Beer Festivals And So Much More ...
Investigate what is available every day COME and ENJOY !
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919.818.5641
919.624.3423
919.810.6111
Cooke Property Inc. 2 Hastings Square Durham, NC 27707 Contact information Lucia Cooke 919. 225.3181 luciacooke@gmail.com Allison Cooke Zimmerman
aczim11@gmail.com Steve Gillham 919.624.6916 sgillham@nc.rr.com www.cookepropertyinc. com Elizabeth Allardice
eallardice@mindspring.com Dorothy Wallace
dwcookeproperty@outlook.com