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Housing market definitively appreciated considerably as most of the country. Differentiator is the growth is economically supported and not just pandemic driven, so should be more sustainable than some areas.
Bought our house in Durham for $336k in 2018. Valued over $600k currently. A couple of the bigger houses in my neighborhood even went for $800k at the height of summer.
Same, I’m lucky to have bought in 2013. The price of entry to creeping up to $1M in established areas around downtown.
I bought mine for $435k in 2020 but one just sold in my neighborhood for $645k. Similar size and land size. I think things are just more expensive right now because of the housing market was so high for a while.
Agree, I think that the house prices in Raleigh, mainly inside of the belt line are not going to go “back to normal” mainly because the city is growing so much and there is no inventory available
And even when they build new house, it is all “premium location” which will only increase in price or keep the prices where they are right now…
I was lucky enough to get a house that we were a bit afraid to purchase as soon as the pandemic hit (855k) and my neighbor bought his house one year after me (same size lot and basically same size house) and paid 1.25kk.
I was just looking on Zillow cause I’m tired of renting and got sick to my stomach. 550k for a decent townhome. 700k for a decent house. And FWIW, I’m looking at Cary. It’s insane.
Bought for 408 in Apr of 2020 in Durham and now it’s around 600. A house in our neighborhood was listed for 685 back in October and it went for 750.
Also, re-reading I don't want to sound like a prick. When I left about 8 years ago 700k was like a dream house. Things are just different now.
Also yes, I'm coming from a pandemic boomtown that I was able to capitalize on and I feel much more comfortable long term in the triangle where there are actually fundamentals to back up the prices, at least a bit more so than lots of other places.
Housing prices have definitely gone up a lot here. Depends on the neighborhood, obviously, but some spots like North Hills in Raleigh have gone crazy. There’s *some* leveling happening, but there are so many people moving here (companies and people) that I don’t see there being any kind of serious price correction like is starting to happen in some other geographies. There just isn’t enough housing available.