Local ACC Basketball Rivalries Match Up Soon How About Their Housing Markets

Dated: 12/15/2017

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Local ACC Basketball Rivalries Match Up Soon How About Their Housing Markets

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The Atlantic Coast Conference Schedule will be in full swing at the start of the year and the Triangle’s local head to head rivalries between Duke, NC State and UNC will begin on January 6th.  There have been over 700 head to head matchups between these three schools dating back to the earliest days of the game.  Growing up in North Carolina like I did, requires that you declare an allegiance that can really only be broken by attending one of the three schools.  If you happen to move here, you will develop a preference.

If you know that Mike Gminski has scored more points against Carolina that any other Duke player (241) you aren’t interested in living anywhere near Franklin St.  If you are aware that Mitch Kupchak’s has more NBA Championship Rings are more than any other Tar Heel (Seven, MJ has 6) you’re not putting a deposit down for a place within walking distance to Brightleaf Square.  Even the passing State fan knows about number 44 hanging from the rafters but if you can name even one player that excelled in number 24 (Richter, Burleson, Gugliotta, Hodge and Warren), my bet is you want to live within an easy drive to Hillsborough Street.

The Triangle is a great place for so many reasons, including access to great Universities and the rivalries that come with them.  Chapel Hill, Durham and Raleigh each have great things about them but how do they match up when it comes to Real Estate?  The local real estate market has seen strong growth throughout but let compare some statistics for this year.


Homes Sold

% Chg No. Sold

Average Price

% Chg Ave Price

Days on Market

Chapel Hill

1,689

0.3%

$406K

4.1%

55

Durham

4,668

3.2%

$254K

7.3%

32

Raleigh

8,708

1.3%

$308K

9.9%

31

Raleigh is by far the largest city of the group and it would be expected to see more homes sold in this market but an almost 10% increase in average price is a blessing and a curse for this market.  Inventory in starter home price points has been a challenge this year and as property values continue to climb, affordable housing will continue to be a challenge.  Durham’s has had the best year in terms of increased number of homes sold, with the lowest average price of this group, should continue have more and more people consider calling Durham home.  Chapel Hill has become one of the smaller markets in the region, with population lower than several Raleigh suburbs, the high average price extends the number of days on market as it prices out many families.

Each of these cities have distinct things working in their favor when it comes to their local housing markets.  When you are pick out you next home in the Triangle, consider the aspects of each of these cities and what is important to you.

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