By Raleigh Standards, Prices of ENC's Best Homes Are Downright Average

I decided to treat the homes I've posted as if they were their own neighborhood and answer this question: how would that neighborhood stack up in terms of price against neighborhoods of central Raleigh? What I found was pretty jarring.

I did my best to control for certain factors. Since each of the homes I posted were built before 1960 (if not long before) and are also located close to the center of their respective towns, I sought out tracts with aged/historic residential properties that were also within a one mile radius of downtown Raleigh.

Without high-powered tools, collecting data and making sense of it is surely a bit more cumbersome and less accurate than it would be were I a real estate analyst, but here's what I found. The thirty-two tracts are divided by quartile, and the green "ENC" line is our historic ENC neighborhood.

Tract Median Listing Price 14 $649,900 2 $615,000 13 $615,000 18 $549,900 12 $523,950 17 $499,900 19 $477,400 15 $449,450 20 $412,000 21 $400,000 25 $379,000 23 $357,450 26 $305,500 24 $299,900 ENC $299,500 11 $284,950 22 $209,000

Tract Median Listing Price 4 $199,900 5 $195,000 16 $180,000 32 $167,200 1 $104,900 7 $100,000 31 $100,000 6 $95,000 27 $95,000 8 $82,450 30 $82,450 9 $77,450 28 $77,450 10 $74,900 29 $74,900 3 $60,000

 

The ENC neighborhood falls between the 14th and 15th most expensive neighborhoods in central Raleigh. In other words, the prices of the grandest homes in Eastern North Carolina are average by Raleigh standards.

Remember, these are the homes I'm talking about:

For maps of each tract, click to read more.

Data courtesy of trulia.com