HouseGuy's Note: This blog post was supposed to be written and released on Saturday - however, while celebrating a new contract on Friday I threw my back out like the old man that I am - so on Saturday I was on painkillers and everyone knows one should not blog while under the influence. Please accept my sober apologies and enjoy reading.
While some people don't consider Chatham County to be part of "The Triangle", I do. Why is that? Over the past decade Chatham County has increasingly been tied more to the job market in Wake, Durham, or Orange County. Economically, they're one and the same.
Given Orange County's lack of housing options, the areas around Lake Jordan in North East Chatham County have experienced a population boom as people look for affordable options to live while still maintaining a short commute. (Governor's Village at the Chatham County line is just 20 minutes from the heart of RTP).
That has paid off for the county - so much so that a new elementary, middle, and high school are all planned for the area by 2020. How has all that demand affected the housing market?
As you can see, the number of closings are almost flat, only up 5% over last year. However, the homes that have closed sold a full month quicker than last year and for almost 8% more!
If we break down the numbers even more and focus on where all the action is...we can find out some more interesting tidbits. Let's take a look at Chapel Hill, Chatham County: