It’s not new news that Raleigh area real estate is one of the best real estate values in the country, but when news channels and magazines report on it, we, like the other residents and soon-to-be-residents are happy to have the opportunity to use our bragging rights! News Station WRAL recently ran a story about the growth in Raleigh real estate values despite the slump elsewhere in the country.

If you’ve been lucky enough to be living in the Raleigh area over the past 5 years or so, you probably didn’t even notice the downturn in the US market. But in places like Las Vegas, median home prices are down more than $30,000 (almost 10%) since last year! In the first quarter of 2007 Wake County home values have experienced a healthy increase.

In other areas of the country, home sales are slowing, but in Wake County, real estate is moving quickly. Though the median home value here in Raleigh is about $32,000 higher than the median value of the US as a whole, there is no shortage people that want to buy homes here. Many refugees from California, New York, and Florida who are used to paying upward of half a million dollars at home for a Raleigh home with a $250,000 price tag are happy to pay the price.

Wondering which city has experienced the highest increase in home values between 2006 and 2007? Dallas TX holds the top spot right now with an average home value increase of around 6.5%. Raleigh is close behind. According the WRAL news experts, Raleigh has experienced between a 5 and 10 percent increase between 2006 and 2007.

Tags: Triangle Real Estate //