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

1/10/2015

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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
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    Notes on the worth and utility of affordable, historic properties in Eastern North Carolina

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