RALEIGH – Interest in new construction homes is again on the rise after dipping earlier this year, despite mortgage interest rates that are now averaging more than 7%, and historical data showing that they sell, on average, for more than existing homes.
Want proof?
A record number of homes were sold by The Jim Allen Group during the Triangle Parade of Homes this month.
Throughout the event, which is put on annually by local homebuilder associations across North Carolina, including the Homebuilders Association of Durham, Orange, & Chatham Counties, local and national builders showcase the latest homes, across a variety of price points.
This year, as with prior years, builders showcased additional styles and must-see features that were put on display during the multiple week event, which ran earlier this month. Homes in Pittsboro and Durham took center stage.
With continued in-migration to the Triangle with movers relocating from other more expensive housing markets, builders have been ramping up developments for more than a decade as population growth has continued.
That includes in Johnston County, which is one of the fastest-growing counties in the nation, and could see thousands of new construction homes sold in 2022 and 2023.
Still, many new construction homes were placed under contract in October. Here’s some of the homes that were offered as a part of this year’s event.
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Pittsboro standout
This three bedroom, two and a half bathroom home is “blends vibrant comforts with top-quality craftsmanship to present a uniquely welcoming lifestyle home plan.”
The home 233 Mindees Lane won a gold star at the Parade of Homes earlier this month. Already, a sale is pending for the new construction home listed at $599,000 and offered by David Weekly Homes.
Photograph of 233 Mindees Lane
Another Pittsboro home, with a similar design, also won a silver medal in October’s Parade of Homes.
The home on 235 Jaspers Point is much less modest, however. It was listed during the Parade of Homes for $1.9 million.
Jaspers Point on the market for $1.9 million in Chatham County
New Franklin County neighborhood
The sale of two homes in Franklin County are pending right now. If they go through, they will be the most expensive homes to sell in the county, both above $1 million, according to the Jim Allen Real Estate Group.
They were put under contract in the East Woods of Patterson neighborhood in Youngsville.
Map of available homes in Patterson Woods, Youngsville
First luxury home sale in Rolesville
According to the Jim Allen Group, there’s never been a luxury home sale made in the small town of Rolesville.
The group has started a development in downtown Rolesville and is in the process of making their first high-end home sale for the area of $775,000, which is well-above any other home that’s sold recently in the area.
The neighborhood is called Carlton Pointe and is off Jonesville Road behind the Wake County ABC retail store.
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Wake Forest is hot area for high-end single-family homes
Dozens of million dollar homes in Wake Forest sold during the Triangle Parade of Homes.
One of the popular neighborhoods, where at least five homes were purchased that were offered by the Jim Allen Group, is Camberly.
7625 Dover Hills Drive
The neighborhood is near Falls Lake and offers custom home building.
All the five homes purchased through Jim Allen are under contract or have sold for more than $1 million.
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Editor’s Note: WRAL TechWire reporter Jason Parker, who holds an active, valid real estate license in North Carolina, contributed to this report.
