Orange County(NC) Real Estate Market Conditions, including Chapel Hill
By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
A lot of people talk about how Chapel Hill Real Estate is exclusive and the affordability aspect is an issue. Real Estate sales in Chapel Hill continue to be strong. With a healthy economy, a recent decline in interest rates, and a stable housing environment it's a great area to buy a home. Through the first Quarter of 2007 the Orange county unemployment rate dropped to 3.1% down from 4.3% the year prior. The most recent population(2005) count for the area is 129,791. The average sold price for a home in Orange County is $318,000. The average sold price of resale homes is $298,500 and new homes is $410,600. The average price of a condominium is $210,000 and a townhome at $288,500. What a big difference a few months makes. Overall inventory has increased a whopping 23%. Most ...
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