Cooke report november 2015

THE

COOKE REPORT

A LOCAL REAL ESTATE MARKET UPDATE

NOVEMBER 2015

designed, photographed, and published by Lucia Cooke and Allison Zimmerman

2

Dear Reader, As always, it is a privilege to have the opportunity to address you. It has now been a full year since we launched our new company, and we could not be more delighted with the results thus far. We have sold around $28 million this year ... and it is not over yet!

We are also pleased to introduce a new member to our company, Steve Gillham.

As an active Realtor and Broker, Steve covers the Triangle area and beyond. His dedication to professionalism, attention to detail and stellar customer service make him a welcome addition to our Firm.

This edition's articles focus on two Raleigh locations, the State Capitol and Pullen Park. I hope you have as much fun reading them as we had researching and writing them. We are lucky to live and work in an area with rich history and cultural interest.

We would be remiss if we did not also take this opportunity to thank our clients and friends who continue to refer new buyers and sellers and promote our services to others.

We couldn't do it without you ... literally.

Our best wishes during the holiday season, and we will see you next year!

Lucia, Cecil and Allison

If you would like to be removed from our mailing list, please let me know by email at: luciacooke@gmail.com.

3

The back stairs, shown here, were used by servants to carry wood to many fireplaces in the chambers above.

You can see where they are worn from carrying heavy loads of wood.

4

Third Quarter 2015 Overview Orange County

Inventory: There are currently 699 homes on the market. That is a 7.4% decrease over the end of third quarter 2014.

Closed Sales: There have been 1439 homes closed this year. That is a 15% increase over the end of third quarter 2014.

Average Sales Price: The current average sales price for 2015 is $348,843. It is an increase of 1.8% over last year.

The average dollar per sq ft is $148. In the Chapel Hill School District, the average sales price

is $351,500 and the average dollar per sq ft is $163.

Cash Buyers: Year to date 2015, 23% of all buyers purchased their home with cash.

List Price/Sales Price: The ratio of list price to sales price is 97%.

Durham County

Inventory: There are currently 1028 homes on the market. That is a 2% decrease over the end of third quarter 2014.

Closed Sales: There have been 3772 homes closed this year. That is an 8% increase over the end of third quarter 2014.

Average Sales Price: The current average sales price for 2015 is $216,606. It is an increase of 2.4% over last year.

The average dollar per sq ft is $109.

Cash Buyers: Year to date 2015, 18.3% of all buyers purchased their home with cash.

List Price/Sales Price: The ratio of list price to sales price is 98%.

Chatham County

Inventory: There are currently 470 homes on the market. That is a 16.8% decrease over the end of third quarter 2014.

Closed Sales: There have been 802 homes closed this year. That is a 5.9% increase over the end of third quarter 2014.

Average Sales Price: The current average sales price for 2015 is $357,290. It is an increase of 6.5% over last year.

The average dollar per sq ft is $135.

Cash Buyers: Year to date 2015, 23.7% of all buyers purchased their home with cash.

List Price/Sales Price: The ratio of list price to sales price is 97%.

5

Cary / Apex / Morrisville Inventory: There are currently 612 homes on the market. That is a 10.7% decrease over the end of third quarter 2014.

Closed Sales: There have been 3585 homes closed this year. That is a 3.6% increase over the end of third quarter 2014.

Average Sales Price: The current average sales price for 2015 is $282,900. It is an increase of 6% over last year.

The average dollar per sq ft is $132.

Cash Buyers: Year to date 2015, 12.7% of all buyers purchased their home with cash.

List Price/Sales Price: The ratio of list price to sales price is 99%.

Central Wake County Inventory: There are currently 695 homes on the market. Last year's numbers are not available to compare.

Closed Sales: There have been 3435 homes closed this year. That is a 13.9% increase over the end of third quarter 2014.

Average Sales Price: The current average sales price for 2015 is $291,544. It is an increase of 3.5% over last year.

The average dollar per sq ft is $141.

Cash Buyers: Year to date 2015, 19.6% of all buyers purchased their home with cash.

List Price/Sales Price: The ratio of list price to sales price is 98%.

Luxury Homes

Priced at $800,000 and above in Wake, Orange, Durham, and Chatham Counties

Inventory: There are currently 433 homes on the market. Last year's numbers are not available to compare.

Closed Sales: There have been 368 homes closed this year. That is a 26% increase over the end of third quarter 2014.

Average Sales Price: The current average sales price for 2015 is $1,039,762. It is an increase of 1% over last year.

The average dollar per sq ft is $208.

Cash Buyers: Year to date 2015, 19.4% of all buyers purchased their home with cash.

List Price/Sales Price: The ratio of list price to sales price is 96%.

6

Market Report All data is from Triangle MLS. The search periods were as follows:

PAST 11/1/2013 to 11/1/2014

RECENT 11/1/2014 to 11/1/2015

Absorption rate is derived by dividing the active listings by the average number of sales per month in each price category. 7

$900,000 - $999,999

$800,000 - $899,999

$600,000 - $699,999

$700,000 - $799,999

$500,000 - $599,999

$400,000 - $499,999

0 0

0 0

0 0

0 0

0 0

0 0

1 0

2 139

5 175

0 0

0 0

0 184

1 0

recent past recent past

0 3 0 167

0 0 0 0

0 2 0 346

1 3 264 325

2 3 377 359

5 0 4 1 374 0 363 450

0 3 0 455

0 0 0 0

1 0 465 0

recent past recent past

0 0 0 0

less than $100,000

$200,000 - $299,999

1 1

$100,000 - $199,999

$300,000 - $399,999

Price Range

New Construction Single Family

Number of Sales recent past

0 0

recent past

Dollar per Sq Ft

1 0 0 2

1 0

1 1

0 0

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

0 0 1 0 2 0 3 3 0 0 0 0 1 4 1 2 2 2 0 0 198 0 165 0 201 201 0 0 0 0 143 167 189 191 195 208

Townhome and Condominium less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 11 4 1 5 10 1 0 0 4 1 4 6 1 2 3 1 1 2 2 0 172 197 264 326 369 339 0 0 270 109 147 187 243 305 194 192 190 216 301

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 17 35 61 32 26 18 18 12 7 1 11 46 55 32 20 19 15 11 10 0 143 159 163 160 176 208 216 207 223 90 152 149 153 166 173 198 186 200 216

Townhome and Condominium more than 10 years old

8

Number of Sales Dollar per Sq Ft

recent past recent past

20 76 17 3 2 2 1 2 0 0 17 70 35 2 0 0 0 0 1 1 91 119 143 184 187 213 181 195 0 0 87 120 161 155 0 0 0 0 215 217

greater than $2,000,000

$1,500,000 - $2,000,000

0 0

0 0

0 0

0 0

0 0

0 0

0 0 0 5 0 0

0 0 0 465 0 0

1 0 1 1 0 0 206 0 455 204 0 0

1 0 1 1 0 0

422 0 500 199 0 0

12 2 0 4 0 1 219 352 0 287 0 520

0 0 0 0 0 0 0 0 0 0 0 0

less than $100,000 current inventory: absorption rate:

9 5.4 months

$100,000 - $199,999 current inventory: absorption rate:

39 4.5 months

$200,000 - $299,999 current inventory: absorption rate:

21 4.5 months

$300,000 - $399,999 current inventory: absorption rate:

26 4.7 months

$400,000 - $499,999 current inventory: absorption rate:

20 3.5 months

$500,000 - $599,999 current inventory: absorption rate:

20 6.1 months

$600,000 - $699,999 current inventory: absorption rate:

14 8.4 months

$700,000 - $799,999 current inventory: absorption rate:

17 7.3 months

$800,000 - $899,999 current inventory: absorption rate:

10 8 months

$900,000 - $999,999 current inventory: absorption rate:

12 13.1 months

$1,000,000 - $1,499,999 current inventory: absorption rate:

13 11.1 months

$1,500,000 - $2,000,000 current inventory: 3 absorption rate: 18.8 months greater than $2,000,000 current inventory: absorption rate:

5 30.1 months

East Chapel Hill High School

$1,000,000 - $1,499,999

Absorption Rate

9

$900,000 - $999,999

$800,000 - $899,999

$700,000 - $799,999

$600,000 - $699,999

$500,000 - $599,999

$400,000 - $499,999

$300,000 - $399,999

$200,000 - $299,999

$100,000 - $199,999

less than $100,000

Price Range

New Construction Single Family

Number of Sales recent past recent Dollar per Sq Ft past

0 1 1 1 5 7 2 1 2 0 0 0 2 2 12 3 3 1 1 0

0 80 188 213 179 172 175 213 192 0 0 0 192 182 144 171 180 190 128 0

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

recent past recent past

0 4 25 12 4 2 0 0 0 0 0 2 9 13 6 4 0 0 0 1 0 91 147 176 276 293 0 0 0 0 0 118 168 248 248 344 0 0 0 305

recent past recent past

0 1 0 2 3 3 1 3 2 1 0 0 0 2 4 3 1 1 1 0 0 122 0 189 165 147 195 161 203 220 0 0 0 149 172 160 134 173 222 0

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

Townhome and Condominium less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 6 10 4 1 0 0 0 0 0 0 4 9 8 1 0 0 0 0 0 0 158 152 110 468 0 0 0 0 0 0 141 131 133 110 0 0 0 0 0

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 11 43 61 48 16 48 5 1 3 2 22 55 36 44 19 10 4 4 0 0 152 165 160 158 170 159 155 183 292 55 168 168 169 165 172 160 187 183 0

Townhome and Condominium more than 10 years old

10

Number of Sales Dollar per Sq Ft

recent past recent past

14 32 12 4 0 0 0 0 0 0 7 45 3 2 0 0 0 0 0 0 66 139 148 122 0 0 0 0 0 0 62 138 201 196 0 0 0 0 0 0

greater than $2,000,000

$1,500,000 - $2,000,000

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

2 0 0 0 0 0 159 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

1 0 0 0 0 0 195 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

less than $100,000 current inventory: absorption rate:

4 3.4 months

$100,000 - $199,999 current inventory: absorption rate:

20 4.4 months

$200,000 - $299,999 current inventory: absorption rate:

24 3.2 months

$300,000 - $399,999 current inventory: absorption rate:

35 5 months

$400,000 - $499,999 current inventory: absorption rate:

21 3.9 months

$500,000 - $599,999 current inventory: absorption rate:

19 7.4 months

$600,000 - $699,999 current inventory: absorption rate:

14 21.2 months

$700,000 - $799,999 current inventory: absorption rate:

5 12 months

$800,000 - $899,999 current inventory: absorption rate:

1 1.7 months

$900,000 - $999,999 current inventory: absorption rate:

5 30.1 months

$1,000,000 - $1,499,999 current inventory: absorption rate:

3 12 months

Chapel Hill High School

$1,000,000 - $1,499,999

Absorption Rate

$1,500,000 - $2,000,000 current inventory: 2 absorption rate: no sales to compare greater than $2,000,000 current inventory: absorption rate:

0 no sales to compare

11

$900,000 - $999,999

$800,000 - $899,999

$700,000 - $799,999

$600,000 - $699,999

$500,000 - $599,999

$400,000 - $499,999

$300,000 - $399,999

$200,000 - $299,999

$100,000 - $199,999

less than $100,000

Price Range

New Construction Single Family

Number of Sales recent past recent Dollar per Sq Ft past

0 0 0 0 0 3 3 3 1 0 0 0 0 0 1 0 2 0 0 0 0 0

0 0

0 0

0 0

0 198 190 197 182 0 177 0 189 0 0 0

recent past recent past

0 0 0 2 0 0 0 116

0 0 0 0

0 1 0 1 0 192 0 198

0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

recent past recent past

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 1 0 1 0 0 0 0 0 209 0 216 0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

0 0 0 0

Townhome and Condominium less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 0 0 0 1 3 0 0 0 0 167 174

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 11 28 15 32 0 15 17 18 24 0 133 153 153 168 0 131 132 149 173

21 8 2 2 3 14 9 5 2 0 186 176 183 178 190 173 181 175 147 0

Townhome and Condominium more than 10 years old

12

Number of Sales Dollar per Sq Ft

recent past recent past

4 28 14 10 2 0 0 0 0 0 3 33 18 6 1 0 0 0 0 0 89 137 175 179 173 0 0 0 0 0 126 135 183 178 159 0 0 0 0 0

greater than $2,000,000

$1,500,000 - $2,000,000

0 0 0

1 0 0

0 231

0 0

0 0

0 0 0 0 0 0 0 0 0 0 0 0

1 0 0 1 0 0 221 0 0 234 0 0

0 0 0 0 0 0 0 0 0 0 0 0

3 0 0 2 0 0 180 0 0 280 0 0

0 0 0 0 0 0 0 0 0 0 0 0

less than $100,000 current inventory: absorption rate:

2 6.1 months

$100,000 - $199,999 current inventory: absorption rate:

2 .6 months

$200,000 - $299,999 current inventory: absorption rate:

11 3.1 months

$300,000 - $399,999 current inventory: absorption rate:

9 4.3 months

$400,000 - $499,999 current inventory: absorption rate:

8 2.7 months

$500,000 - $599,999 current inventory: absorption rate:

12 6 months

$600,000 - $699,999 current inventory: absorption rate:

5 5.4 months

$700,000 - $799,999 current inventory: absorption rate:

6 12 months

$800,000 - $899,999 current inventory: absorption rate:

2 8 months

$900,000 - $999,999 current inventory: absorption rate:

3 9.1 months

$1,000,000 - $1,499,999 current inventory: absorption rate:

7 21.2 months

Carrboro High School

$1,000,000 - $1,499,999

Absorption Rate

$1,500,000 - $2,000,000 current inventory: 1 absorption rate: no sales to compare greater than $2,000,000 current inventory: absorption rate:

1 no sales to compare

13

1 0

0 0 0 0 0 0

$900,000 - $999,999

3 0

$800,000 - $899,999

$600,000 - $699,999

9 5

$700,000 - $799,999

$500,000 - $599,999

5 1 9 2

$400,000 - $499,999

$100,000 - $199,999

0 0

$300,000 - $399,999

less than $100,000

$200,000 - $299,999

Price Range

New Construction Single Family

Number of Sales recent past recent Dollar per Sq Ft past

0 0

0 87 147 124 99 151 0 0 0 0 0 87 90 126 0 0 0 0 0 0

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

recent past recent past

0 0 12 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 125 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 6 3 5 0 2 1 1 0 0 0 2 5 2 0 1 2 0 1 0 0 85 117 135 0 140 164 235 0 0 0 108 114 103 0 169 181 0 232 0

Townhome and Condominium less than 10 years old

Number of Sales

recent past

Dollar per Sq Ft

recent past

0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 114 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

5 7

55 54

58 119 79 115

75 29 10 5 3 2 3 4 59 13 1 1 3 3 3 0 104 142 164 220 124 147 169 132

248 158 215 329 202 213 196 0

Townhome and Condominium more than 10 years old

14

Number of Sales Dollar per Sq Ft

recent past recent past

0 3 0 0 0 0 0 0 0 0 1 4 0 0 0 0 0 0 0 0 0 106 0 0 0 0 0 0 0 0 74 97 0 0 0 0 0 0 0 0

greater than $2,000,000

$1,500,000 - $2,000,000

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

0 0 0

1 0 0 0 0 0 223 0 0 0 0 0

0 0 0

0 0 0 0 0 0

0 0 0

1 0 0 1 0 0

252 0 0 234 0 0

0 0 0 0 0 0 0 0 0 0 0 0

less than $100,000 current inventory: absorption rate:

2 3 months

$100,000 - $199,999 current inventory: absorption rate:

25 4.3 months

$200,000 - $299,999 current inventory: absorption rate:

20 2.6 months

$300,000 - $399,999 current inventory: absorption rate:

16 4.5 months

$400,000 - $499,999 current inventory: absorption rate:

12 11.1 months

$500,000 - $599,999 current inventory: absorption rate:

12 18.2 months

$600,000 - $699,999 current inventory: absorption rate:

8 24.2 months

$700,000 - $799,999 current inventory: absorption rate:

9 36 months

$800,000 - $899,999 current inventory: absorption rate:

3 12 months

$900,000 - $999,999 current inventory: absorption rate:

1 3 months

$1,000,000 - $1,499,999 current inventory: absorption rate:

3 18.1 months

$1,500,000 - $2,000,000 current inventory: 3 absorption rate: no sales to compare greater than $2,000,000 current inventory: absorption rate:

4 no sales to compare

Cedar Ridge High School

$1,000,000 - $1,499,999

Absorption Rate

15

New Construction Single Family

recent Number of Sales past recent Dollar per Sq Ft past

$900,000 - $999,999

$800,000 - $899,999

$700,000 - $799,999

$600,000 - $699,999

$500,000 - $599,999

$400,000 - $499,999

$300,000 - $399,999

$200,000 - $299,999

$100,000 - $199,999

less than $100,000

Price Range

0 4 4 4 5 4 6 0 1 0 0 1 4 0 1 0 0 0 0 0

0 118 129 138 146 158 155 0 221 0 0 96 125 0 133 136 0 0 0 0

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

recent past recent past

0 3 2 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 121 117 0 0 0 0 0 0 0 0 0 96 0 0 0 0 0 0 0

recent past recent past

0 16 18 17 7 3 1 0 0 0 0 18 11 20 10 5 2 0 0 0 0 93 110 125 139 128 150 0 0 0 0 100 106 123 119 136 151 0 0 0

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

Townhome and Condominium less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 11 4 0 0 0 0 0 0 0 0 12 1 0 0 0 0 0 0 0 0 100 103 0 0 0 0 0 0 0 0 100 96 0 0 0 0 0 0 0

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

42 80 51 37 16 0 4 3 1 0 24 68 45 27 12 1 1 1 0 0 59 104 120 133 152 0 183 178 178 0 58 106 124 134 140 202 143 204 0 0

Townhome and Condominium more than 10 years old

16

Number of Sales Dollar per Sq Ft

recent past recent past

0 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 99 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

greater than $2,000,000

$1,500,000 - $2,000,000

$1,000,000 - $1,499,999

Absorption Rate

0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

2 0 0 0 0 0 190 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

1 1 0 0 0 0 196 228 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

9 2.2 months

$100,000 - $199,999 current inventory: absorption rate:

29 2.9 months

$200,000 - $299,999 current inventory: absorption rate:

26 4 months

$300,000 - $399,999 current inventory: absorption rate:

23 4.8 months

$400,000 - $499,999 current inventory: absorption rate:

28 12 months

$500,000 - $599,999 current inventory: absorption rate:

10 17.2 months

$600,000 - $699,999 current inventory: absorption rate:

9 9.8 months

$700,000 - $799,999 current inventory: absorption rate:

5 20 months

$800,000 - $899,999 current inventory: absorption rate:

5 20 months

$900,000 - $999,999 current inventory: absorption rate:

1 no sales to compare

$1,000,000 - $1,499,999 current inventory: absorption rate:

6 36.1 months

Orange High School

0 0 0 0 0 0

less than $100,000 current inventory: absorption rate:

$1,500,000 - $2,000,000 current inventory: 2 absorption rate: 24.1 months greater than $2,000,000 current inventory: absorption rate:

2 no sales to compare

17

$900,000 - $999,999

$800,000 - $899,999

$700,000 - $799,999

$600,000 - $699,999

$500,000 - $599,999

$400,000 - $499,999

$300,000 - $399,999

$200,000 - $299,999

$100,000 - $199,999

less than $100,000

Price Range

New Construction Single Family

recent Number of Sales past recent Dollar per Sq Ft past

0 16 15 8 1 0 1 0 0 0 0 22 15 3 1 0 0 0 0 0

0 97 96 151 201 0 155 0 0 0 0 84 98 177 150 0 0 0 0 0

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

recent past recent past

0 0 0 1 0 0 0 0 0 0 0 15 0 0 0 0 0 0 0 0 0 0 0 101 0 0 0 0 0 0 0 72 0 0 0 0 0 0 0 0

recent past recent past

3 35 17 9 3 1 0 0 0 0 4 41 23 12 2 1 1 0 0 0 65 82 96 119 120 134 0 0 0 0 44 82 90 130 129 140 239 0 0 0

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

Townhome and Condominium less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

1 15 1 1 0 0 0 0 0 0 1 8 2 0 0 0 0 0 0 0 69 76 114 106 0 0 0 0 0 0 80 74 110 0 0 0 0 0 0 0

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

97 203 99 31 9 0 0 0 1 1 106 181 77 26 6 2 0 2 0 0 52 96 105 117 142 0 0 0 148 146 48 94 111 126 130 106 0 123 0 0

Townhome and Condominium more than 10 years old

18

Number of Sales Dollar per Sq Ft

recent past recent past

5 8 0 0 0 0 0 0 0 0 6 8 0 0 0 0 0 0 0 0 67 70 0 0 0 0 0 0 0 0 70 69 0 0 0 0 0 0 0 0

greater than $2,000,000

$1,500,000 - $2,000,000

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

1 0 0 1 1 0 142 0 0 147 199 0

0 0 0 0 0 0 0 0 0 0 0 0

less than $100,000 current inventory: absorption rate:

5 3 months

$100,000 - $199,999 current inventory: absorption rate:

20 2.4 months

$200,000 - $299,999 current inventory: absorption rate:

49 3.1 months

$300,000 - $399,999 current inventory: absorption rate:

79 4.1 months

$400,000 - $499,999 current inventory: absorption rate:

83 5.3 months

$500,000 - $599,999 current inventory: absorption rate:

53 7.1 months

$600,000 - $699,999 current inventory: absorption rate:

27 9.8 months

$700,000 - $799,999 current inventory: absorption rate:

28 21.1 months

$800,000 - $899,999 current inventory: absorption rate:

15 15 months

$900,000 - $999,999 current inventory: absorption rate:

11 18.8 months

$1,000,000 - $1,499,999 current inventory: absorption rate:

13 19.7 months

Northern High School

$1,000,000 - $1,499,999

Absorption Rate

$1,500,000 - $2,000,000 current inventory: 5 absorption rate: 30.1 months greater than $2,000,000 current inventory: absorption rate:

5 60.2 months

19

$900,000 - $999,999

$800,000 - $899,999

$700,000 - $799,999

$600,000 - $699,999

$500,000 - $599,999

$400,000 - $499,999

$300,000 - $399,999

$200,000 - $299,999

$100,000 - $199,999

less than $100,000

Price Range

New Construction Single Family

Number of Sales recent past recent Dollar per Sq Ft past

0 0 5 3 0 2 1 8 4 0 0 1 4 7 0 0 10 2 0 0

0 0 155 126 0 175 182 182 210 0 0 105 132 116 0 0 173 178 0 0

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

recent past recent past

0 12 4 0 0 0 0 0 0 0 54 16 0 0 0 0 0 0 0 0 0 133 137 0 0 0 0 0 0 0 0 109 132 0 0 0 0 0 0 0

recent past recent past

3 7 6 7 5 3 0 0 2 0 1 9 8 8 5 0 0 0 0 0 64 110 96 133 126 134 0 0 210 0 68 95 119 126 120 0 0 0 0 0

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

Townhome and Condominium less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

2 16 9 1 1 0 0 0 0 0 3 3 8 4 0 0 0 0 0 0 67 119 187 252 199 0 0 0 0 0 57 91 198 246 0 0 0 0 0 0

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

41 196 105 49 20 5 1 2 1 0 67 205 116 43 13 6 2 2 0 0 68 108 139 165 161 185 211 171 249 0 64 107 131 147 154 172 233 164 0 0

Townhome and Condominium more than 10 years old

20

Number of Sales Dollar per Sq Ft

recent past recent past

45 32 6 3 0 0 0 0 0 0 35 34 3 5 0 0 0 0 0 0 80 100 1 86 170 0 0 0 0 0 0 73 109 134 195 0 0 0 0 0 0

greater than $2,000,000

$1,500,000 - $2,000,000

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

1 0 0 1 0 0 241 0 0 245 0 0

0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 1 0 0 0 0 0 210 0 0

0 0 0 0 0 0 0 0 0 0 0 0

less than $100,000 current inventory: absorption rate:

9 1.2 months

$100,000 - $199,999 current inventory: absorption rate:

52 2.3 months

$200,000 - $299,999 current inventory: absorption rate:

25 2.2 months

$300,000 - $399,999 current inventory: absorption rate:

19 3.6 months

$400,000 - $499,999 current inventory: absorption rate:

12 5.3 months

$500,000 - $599,999 current inventory: absorption rate:

9 11 months

$600,000 - $699,999 current inventory: absorption rate:

7 42.2 months

$700,000 - $799,999 current inventory: absorption rate:

9 10.8 months

$800,000 - $899,999 current inventory: absorption rate:

4 6.9 months

$900,000 - $999,999 current inventory: absorption rate:

4 no sales to compare

$1,000,000 - $1,499,999 current inventory: absorption rate:

10 120.5 months

Riverside High School

$1,000,000 - $1,499,999

Absorption Rate

$1,500,000 - $2,000,000 current inventory: 0 absorption rate: no sales to compare greater than $2,000,000 current inventory: absorption rate:

0 no sales to compare

21

$900,000 - $999,999

$800,000 - $899,999

$700,000 - $799,999

$600,000 - $699,999

$500,000 - $599,999

$400,000 - $499,999

$300,000 - $399,999

$200,000 - $299,999

$100,000 - $199,999

less than $100,000

Price Range

New Construction Single Family

recent Number of Sales past recent Dollar per Sq Ft past

0 17 7 48 30 2 4 1 2 0 0 9 27 34 24 10 6 0 0 0

0 124 133 131 131 148 186 188 232 0 0 125 122 128 143 162 154 0 0 0

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

recent past recent past

0 0 0 4 2 2 0 0 0 0 0 0 1 5 3 1 0 0 0 0 0 0 0 167 204 252 0 0 0 0 0 0 171 158 184 170 0 0 0 0

recent past recent past

3 5 15 48 21 11 2 4 2 1 0 5 18 32 15 5 6 0 0 0 67 97 130 121 132 152 145 119 170 0 0 111 119 113 136 192 158 0 0 0

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

Townhome and Condominium less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 42 27 5 2 0 0 0 0 0 0 27 24 4 2 0 0 0 0 0 0 111 133 172 0 0 0 0 0 0 0 106 127 166 146 0 0 0 0 0

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

25 157 290 118 35 19 15 2 6 2 26 161 255 124 39 20 11 12 5 4 49 118 125 133 145 185 170 244 185 206 35 113 119 130 158 167 178 186 178 195

Townhome and Condominium more than 10 years old

22

Number of Sales Dollar per Sq Ft

recent past recent past

27 183 15 0 1 0 0 0 0 0 37 153 11 3 0 0 0 0 0 0 77 103 114 0 285 0 0 0 0 0 70 99 143 169 0 0 0 0 0 0

greater than $2,000,000

$1,500,000 - $2,000,000

$1,000,000 - $1,499,999

Absorption Rate

0 224 0 234 0 0

0 0 0 0 0 0 0 0 0 0 0 0

1 1 1 0 0 0 199 205 409 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

5 0 0 1 1 1 271 0 0 222 266 453

0 0 0 0 0 0 0 0 0 0 0 0

6 1.3 months

$100,000 - $199,999 current inventory: absorption rate:

66 2.3 months

$200,000 - $299,999 current inventory: absorption rate:

46 1.6 months

$300,000 - $399,999 current inventory: absorption rate:

57 3.1 months

$400,000 - $499,999 current inventory: absorption rate:

47 5.9 months

$500,000 - $599,999 current inventory: absorption rate:

13 4.6 months

$600,000 - $699,999 current inventory: absorption rate:

9 5.4 months

$700,000 - $799,999 current inventory: absorption rate:

5 8.6 months

$800,000 - $899,999 current inventory: absorption rate:

3 3.6 months

$900,000 - $999,999 current inventory: absorption rate:

2 12.5 months

$1,000,000 - $1,499,999 current inventory: absorption rate:

4 8 months

Jordan High School

0 1 0 3 0 0

less than $100,000 current inventory: absorption rate:

$1,500,000 - $2,000,000 current inventory: 1 absorption rate: 4 months greater than $2,000,000 current inventory: absorption rate:

4 no sales to compare

23

$900,000 - $999,999

$800,000 - $899,999

$700,000 - $799,999

$600,000 - $699,999

$500,000 - $599,999

$400,000 - $499,999

$300,000 - $399,999

$200,000 - $299,999

$100,000 - $199,999

less than $100,000

Price Range

New Construction Single Family

recent Number of Sales past recent Dollar per Sq Ft past

0 2 32 116 116 53 12 6 4 3 0 1 50 120 90 31 20 8 2 1

0 140 140 143 146 149 170 200 193 206 0 142 136 141 141 154 168 184 159 196

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

recent past recent past

0 0 2 0 0 0 0 0 0 0 0 3 4 0 0 0 0 0 0 0 0 0 128 0 0 0 0 0 0 0 0 113 132 0 0 0 0 0 0 0

recent past recent past

0 6 45 66 37 18 15 7 5 0 0 14 72 52 42 20 9 5 1 0 0 112 144 149 143 141 166 168 172 0 0 102 140 147 135 139 158 145 143 0

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

Townhome and Condominium less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 8 15 0 0 0 0 0 0 0 0 9 14 0 0 0 0 0 0 0 0 117 159 0 0 0 0 0 0 0 0 115 146 0 0 0 0 0 0 0

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

14 62 81 47 37 19 6 3 3 4 15 66 61 48 30 20 6 4 3 1 69 114 130 146 146 152 155 206 163 183 62 109 125 143 172 135 134 155 162 164

Townhome and Condominium more than 10 years old

24

Number of Sales Dollar per Sq Ft

recent past recent past

1 12 16 1 0 0 0 0 0 0 2 6 15 1 0 0 0 0 0 0 95 117 111 113 0 0 0 0 0 0 67 112 115 155 0 0 0 0 0 0

greater than $2,000,000

$1,500,000 - $2,000,000

0 0 0 2 0 0

0 0 0 215 0 0

0 0 0 0 0 0 0 0 0 0 0 0

5 2 1 3 0 0 193 215 271 228 0 0

0 0 0 0 0 0 0 0 0 0 0 0

4 0 0 1 0 0 195 0 0 124 0 0

0 0 0 0 0 0 0 0 0 0 0 0

less than $100,000 current inventory: absorption rate:

4 2.1 months

$100,000 - $199,999 current inventory: absorption rate:

36 4.2 months

$200,000 - $299,999 current inventory: absorption rate:

45 2.5 months

$300,000 - $399,999 current inventory: absorption rate:

74 4 months

$400,000 - $499,999 current inventory: absorption rate:

96 7 months

$500,000 - $599,999 current inventory: absorption rate:

76 12.7 months

$600,000 - $699,999 current inventory: absorption rate:

31 10.7 months

$700,000 - $799,999 current inventory: absorption rate:

10 7.1 months

$800,000 - $899,999 current inventory: absorption rate:

10 20 months

$900,000 - $999,999 current inventory: absorption rate:

15 90.4 months

$1,000,000 - $1,499,999 current inventory: absorption rate:

15 45.5 months

$1,500,000 - $2,000,000 current inventory: 3 absorption rate: no sales to compare greater than $2,000,000 current inventory: absorption rate:

6 no sales to compare

Northwood High School

$1,000,000 - $1,499,999

Absorption Rate

25

$900,000 - $999,999

$800,000 - $899,999

$700,000 - $799,999

$600,000 - $699,999

$500,000 - $599,999

$400,000 - $499,999

$300,000 - $399,999

$200,000 - $299,999

$100,000 - $199,999

less than $100,000

Price Range

New Construction Single Family

recent Number of Sales past recent Dollar per Sq Ft past

0 0 33 132 142 63 78 40 19 8 0 6 24 291 172 79 47 26 10 7 0 0 134 0 106 137

144 129

142 133

147 140

158 156

165 161

185 18 176 179

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

recent past recent past

0 8 269 69 0 0 0 0 0 0 0 86 192 118 1 0 0 0 0 0 0 112 128 142 0 0 0 0 0 0 0 115 126 153 137 0 0 0 0 0

recent past recent past

0 1 79 201 143 87 34 12 7 3 0 5 69 182 115 55 28 17 6 2 0 113 130 129 131 145 148 151 160 155 0 112 124 121 130 140 146 148 158 184

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

Townhome and Condominium less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

0 163 193 34 6 1 3 0 0 0 5 213 152 20 2 1 3 0 0 0 0 112 120 141 158 162 169 0 0 0 119 107 118 133 146 155 174 0 0 0

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

2 245 764 522 178 70 48 19 8 3 8 293 702 428 172 82 46 9 9 3 59 123 129 130 138 149 156 154 178 170 65 115 122 124 136 145 154 165 170 201

Townhome and Condominium more than 10 years old

26

Number of Sales Dollar per Sq Ft

recent past recent past

34 324 77 11 2 3 2 0 0 0 43 288 61 8 3 1 1 0 0 0 89 106 131 129 127 161 192 0 0 0 81 99 124 142 132 242 150 0 0 0

greater than $2,000,000

$1,500,000 - $2,000,000

4 2 0 7 1 0

202 212 0 207 207 0

10 1 1 6 0 0

190 310 225

183 0 0

0 0 0 0 0 0 0 0 0 0 0 0

4 3 0 9 2 0 183 234 0 176 204 0

0 0 0 0 0 0 0 0 0 0 0 0

3 .97 months

$100,000 - $199,999 current inventory: absorption rate:

13 .19 months

$200,000 - $299,999 current inventory: absorption rate:

18 .56 months

$300,000 - $399,999 current inventory: absorption rate:

39 1.3 months

$400,000 - $499,999 current inventory: absorption rate:

59 1.4 months

$500,000 - $599,999 current inventory: absorption rate:

101 5.4 months

$600,000 - $699,999 current inventory: absorption rate:

69 5 months

$700,000 - $799,999 current inventory: absorption rate:

43 7.3 months

$800,000 - $899,999 current inventory: absorption rate:

12 4.2 months

$900,000 - $999,999 current inventory: absorption rate:

6 5.1 months

$1,000,000 - $1,499,999 current inventory: absorption rate:

10 6.7 months

Areas 005, 010, and 015

0 0 0 0 0 0 0 0 0 0 0 0

less than $100,000 current inventory: absorption rate:

Cary, Morrisville & Apex

$1,000,000 - $1,499,999

Absorption Rate

$1,500,000 - $2,000,000 current inventory: 1 absorption rate: 2 months greater than $2,000,000 current inventory: absorption rate:

4 48.2 months

27

$900,000 - $999,999

$800,000 - $899,999

$700,000 - $799,999

$600,000 - $699,999

$500,000 - $599,999

$400,000 - $499,999

$300,000 - $399,999

$200,000 - $299,999

$100,000 - $199,999

less than $100,000

Price Range

New Construction Single Family

recent Number of Sales past recent Dollar per Sq Ft past

0 0 14 20 38 47 43 39 9 7 0 6 27 38 26 32 55 36 20 9

0 0 128 143 162 174 197 196 216 212 0 125 120 131 153 175 175 189 203 214

New Construction Townhome and Condominium

Number of Sales Dollar per Sq Ft

recent past recent past

0 39 46 37 39 0 0 0 0 0 0 79 38 16 14 6 1 0 0 0 0 123 167 173 173 0 0 0 0 0 0 117 146 161 189 193 185 0 0 0

recent past recent past

0 2 22 47 25 19 26 9 13 4 0 6 23 26 31 23 12 13 9 4 0 122 123 139 153 153 168 185 196 179 0 122 118 138 148 164 174 193 175 178

Single Family Re-Sale less than 10 years old

Number of Sales Dollar per Sq Ft

Townhome and Condominium less than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

2 183 171 51 13 3 3 2 1 0 4 218 153 36 10 1 4 1 0 0 71 111 142 204 223 222 339 249 272 0 77 107 126 198 237 262 259 190 0 0

Single Family Re-Sale more than 10 years old

Number of Sales Dollar per Sq Ft

recent past recent past

16 321 649 424 185 105 42 30 20 7 17 393 552 381 150 76 52 28 15 10 70 114 139 157 174 199 194 194 236 240 234 539 138 158 172 189 191 204 205 204

Townhome and Condominium more than 10 years old

28

Number of Sales Dollar per Sq Ft

recent past recent past

232 733 151 42 15 6 1 2 0 0 234 539 112 31 10 4 0 0 1 0 75 96 147 170 149 177 263 294 0 0 70 104 138 145 191 227 0 0 299 0

greater than $2,000,000

$1,500,000 - $2,000,000

$1,000,000 - $1,499,999

Absorption Rate

264 253 0 256 0 467

6 3 1 9 1 1 233 248 273 229 251 238

0 0 0 0 0 0 0 0 0 0 0 0

18 4 1 8 0 1 246 345 219 243 0 537

1 0 0 0 0 0

400 0 0 0 0 0

$100,000 - $199,999 current inventory: absorption rate:

23 .73 months

$200,000 - $299,999 current inventory: absorption rate:

33 1.1 months

$300,000 - $399,999 current inventory: absorption rate:

52 .94 months

$400,000 - $499,999 current inventory: absorption rate:

60 2.3 months

$500,000 - $599,999 current inventory: absorption rate:

51 3.4 months

$600,000 - $699,999 current inventory: absorption rate:

57 5.9 months

$700,000 - $799,999 current inventory: absorption rate:

62 9.1 months

$800,000 - $899,999 current inventory: absorption rate:

26 7.3 months

$900,000 - $999,999 current inventory: absorption rate:

18 12 months

$1,000,000 - $1,499,999 current inventory: absorption rate:

30 11.3 months

areas 001, 002, and 004

0 0 0 0 0 0 0 0 0 0 0 0

49 2.3 months

Central Raleigh

7 1 0 5 0 1

less than $100,000 current inventory: absorption rate:

$1,500,000 - $2,000,000 current inventory: 13 absorption rate: 19.7 months greater than $2,000,000 current inventory: absorption rate:

5 30.1 months

29

30

Notable homes come with a heritage, they are a landmark of the community. That legacy begins with the site as inspiration. Over three acres of exquisite, manicured grounds provide a setting like none other for

3124 Surrey Road, an icon imbued with refined architectural grace.

31

3124 Surrey Road 3124 Surrey Road was one of the earliest homes built in Hope Valley, an English countryside inspired community centered around a Donald Ross golf course. The original construction dates to 1938. In 1996, even though it was not on the market, a couple knocked on the door and asked to purchase the residence. After the purchase they engaged renowned architect Hutch Johnson and respected builder Leon Meyers to combine their expertise and talent to create a timeless addition that looked original to the house. The home was featured on Good Morning America as an example of excellence in design . . . respecting historical elements and adding classical rooms true to the genre. The current owners have made other additions, and each time have continued the collaboration with Hutch Johnson and Leon Meyers. The splendid interior design focuses attention to the grounds, each room inviting extended views and access

32

to multiple terraces, porches and gardens. The center garden room is a focal point that centers the house. A horizontal layer of windows envelope the vaulted ceiling. The effect is reminiscent of the grand solariums found

in major estates throughout Europe and the US. What brilliant grounding

noble estate.

to this

Offered at $3,500,000 9085 Heated Sq Ft

Five Bedrooms, Four Full and Three Half Baths Sited on 3.12 Acres on the Hope Valley Golf Course

The mahogany study pictured to the left is original to the house. Note the furniture quality joinery and intricate detail. One of the six fireplaces is located in this room.

Above is the separate guest house. This charming cottage includes a kitchen, vaulted great room, and bedroom suite.

Mere words can’t give credence to this fine home. From the trompe l’oeil painting in the formal dining room to the chestnut billiard and gaming room, the effect is an entity that is a home . . . one that is welcoming and rich with love.

33 33

28 Whitley Drive Modern with traditional references, this custom home exudes volume and comfort. Vaulted coffered ceilings, a library turret, deep cove moldings and extensive hardwood floors nod to traditional architecture, while an enormous state-of-the-art kitchen, clean lines and high ceilings reference the most modern, in-demand requisites.

There are two master suites, one on the main level and another on the second floor. Additional rooms include an in-home theater, exercise/ glass sitting room on the main level, and a third floor sixth bedroom/ bonus room. An elevator keeps all levels accessible. Lutron lighting, central vacuum, steam shower, distributed audio system and circular drive are appreciated amenities. The almost one acre homesite is on the 16th fairway of Chapel Hill Country Club. Stacked stone landscape

walls, limestone terraced seating areas, a gazebo, an in-ground pool

cabana house contribute to the exquisite

and setting.

Offered at $1,650,000 7593 Heated Sq Ft Five Bedrooms, Six Full and Two Half Baths 34

Sited on .93 Acres on the Golf Course in the Oaks

118 Stoneridge Drive Here, in the coveted community of Stoneridge, sits an architectural gem. This exceptional ranch style home both enhances and blends into its incredible surroundings. One of the first impressions on entering is how the sophisticated style seamlessly incorporates natural elements reflective of the home’s setting. The natural stone present on the exterior is carried into the foyer and then to other areas. Hardwood floors are found throughout most of the home and act as a reflective surface for both sunlight and the Lutron lighting to play. The vaulted great room with a fireplace encased in the immense stone wall is the soul of the home, while the kitchen, offering exceptional functionality combined with a classic aesthetic, remains the heart. But it’s the lower level recreation room that guarantees hours of entertainment. Backing to Duke Forest, the home offers both privacy and the promise of up

natural

beauty no matter the time of year.

Offered at $1,155,000 5111 Heated Sq Ft Four Bedrooms, Four Full and Two Half Baths Sited on 4.95 Acres in Stoneridge ... with Chapel Hill Schools 35

7111 Creek Wood Drive Set within a spacious, private and wooded lot in Creek Wood, this home combines the serenity of the views and sounds of nature with elegance, sophistication and beauty. From first glance, the immaculate design of the exterior facade sets the tone, but inside, it becomes obvious that this is not just another house, it is a statement in classic refinement and quality details. With the hardwood flooring, heavy crown moulding, master bedroom with vaulted ceiling and true chef’s kitchen, the distinction is blurred between a weekend getaway home and one that is for everyday living. Three levels of living space provide plenty of room in this home – in addition to the main level where you’ll find the master suite, the upper level boasts three more bedrooms, a bonus, a media room and plenty of storage while the lower level is a

self-sufficient suite unto itself with a living room, kitchen, dining room,

bedrooms and a two full bath.

Offered at $1,150,000 6133 Heated Sq Ft Six Bedrooms, Four Full and One Half Baths 3636 38 36

Sited on 2.06 Acres in Creek Wood ... with Chapel Hill Schools

410 Woodgate Drive Nestled on a 2.8 acre lot that borders Nature Conservancy land, this soft-contemporary home melds beautifully with its environment. Its incorporation of natural wood and stone makes it warm, comfortable and inviting. 410 Woodgate Drive showcases the refined construction of well-respected Chapel Hill builder, Jim Henry. Clean lines, purity of design, quality craftsmanship and a beautiful setting distinguish this property as a one-of-a-kind home. Elements include artistic layers of lighting, hardwood flooring, nearly floor-to-ceiling casement windows with woodland views, alcoves designed for furniture placement and artistic displays, and dimension that extends passed designed tiered ceilings and walls. Designed by award winning architect, Michael Barclay, this home captures his nationally renowned style of blending

Northwest Contemporary and Prairie elements. First floor rooms

include the and an office with private entrance. master suite Offered at $970,000 4471 Heated Sq Ft Four Bedrooms, Three Full and One Half Baths

Sited on 2.85 Acres in the Woodlands ... with Chapel Hill Schools

37 37

105 Millbrae Lane This sleek, Contemporary, European style home located on a spacious lot in the Chesley community is truly a work of art – evidenced by the well-landscaped grounds; multi-tiered garden boxes; and all-brick walled courtyard, walkway and entry stairs found on the exterior, and the all solid wood doors with Baldwin Brass fixtures and endless hardwoods on the first and second level (except for the marble tile located in the foyer) found throughout the interior. The kitchen is a “must see” in this spacious home. Remodeled by CKS Design, honed granite counters make up the majority of the work space while amethyst speckled movement stone tops off the bar counter. Segmented “instant close” drawers complete the underside of the counters. Uplighting above the cabinets and Lutron lighting allow you to illuminate the space any way you can imagine. There is nothing about this home that considered and strategically implemented. hasn’t been carefully

Offered at $900,000 4771 Heated Sq Ft Five Bedrooms, Four Full and One Half Baths 38

Sited on .54 Acres in Chesley

3414 Tree Farm Road An artistic, sophisticated home on over ten acres of immaculately landscaped property with pristine, private views near Historic Hillsborough is a rare but treasured find. Inside, every detail has been considered – from the hardwood flooring to the audio, electronic and multi-media system and pre-wiring, and from the granite counters to the Aga dual-fuel, radiant heat, six-burner and four oven cooking system.

The great room features vaulted ceilings, a stone encased fireplace and access to a wet bar, while the formal dining room adjoins the true chef’s kitchen through a butler’s pantry. The private, spa-like master suite is found on the lower level and three additional bedrooms, a bonus room and study reside upstairs. Custom built by Pomarico Construction Company, with four generations of building experience, this home is

aligned with the integrity of the builder – a true masterpiece, and one

that embodies

excellent craftsmanship and design.

Offered at $850,000 3877 Heated Sq Ft Four Bedrooms, Three Full and One Half Baths Sited on 10.34 Acres, in Hillsborough, NC

37

39

5909 Beech Bluff This custom-constructed, 4599 square foot home, situated on a culde-sac lot is splendidly embraced by its natural setting – with its stone front porch granting dramatic views of the pristine downward sloping terrain of Piney Mountain Creek. Inside, this exceptionally built home achieves its desired warmth, comfort and visual drama by blending a contemporary look of clean lines with appealing architectural elements such as coffered, trey and vaulted ceilings; half walls delineating spaces; columns with intricate carvings and stately mouldings. Hardwood flooring runs through the main level living space extending elegance to a home with an already carefully-considered floor plan in which spacious rooms can easily accommodate oversized furniture and large gatherings. The spa-like master suite with trey ceiling is found on the main level, while the lower levels adds even more living space and a

fourth bedroom and full bath.

Offered at $725,000 4599 Heated Sq Ft Four Bedrooms, Three Full and One Half Baths Sited on .93 Acres, near Duke and UNC 42 40

4111 Champaign Dr. The quality and craftsmanship of a home are always evidenced first from the exterior views. Situated on a deep corner lot in New Hope Valley, multiple vantage points of the home boast exquisite brickwork, not only found within the facade of the home, but also in the curved approach from the street. It’s the careful consideration of every detail, sure to be carried through inside, that entices you to enter and see what else is in store. Hardwood floors, heavy crown moulding, intricate chair railing and a charming fireplace are among the careful considerations adding elegance to the generously sized living spaces. In addition to the resort-like first floor master, there is a handicapped accessible and equipped suite with a private sitting room, kitchenette, bedroom and bath. The upper level boasts a loft, three more bedrooms and two sizable storage rooms. The deep front porch and a spacious back deck

grant plenty of opportunities for relaxation.

Offered at $635,000 3788 Heated Sq Ft Five Bedrooms, Three Full and One Half Baths Sited on .484 Acres in Hope Valley

41

306 Old Larkspur Way Wonderful opportunities only present themselves on rare occasions, and here is one, with this immaculate home built by Zinn Design Build in Larkspur and backing up to private greenspace. The open and spacious floor plan is perfect for family living and is exquisite in its use of intricate mouldings, architectural elements, vaulted areas, custom shelving and cabinetry, accent columns and arched entrances. Hardwood flooring is also found throughout the entire home except for the third floor bonus room. The sizable kitchen boasts upscale considerations such as granite counters and stainless appliances. A first floor guest suite adds private accommodations for overnight visitors, while the master suite with a luxurious bath is found on the second floor along with three other bedrooms. Pristine outside living areas include a spacious front porch, screen porch and deck, and the neighborhood pool, clubhouse and

playground are an easy walk away.

Offered at $625,000 4069 Heated Sq Ft Five Bedrooms, Four Full Baths Sited on .28 Acres in Larkspur, Chapel Hill 42

406 Weaver Mine Tr. Living a beautiful life in the South is not difficult when you have a wonderful home such as this that embodies all aspects of the true Southern Style. A symmetrical design with striking black shutters accenting the brilliant white siding makes neighbors stop to take notice.

Once inside, the gesture of that warm Southern welcome is evidenced through an open floor plan on the main level where spacious rooms flow naturally from one to another and boast hardwood flooring. The upper level master suite features an octagonal shaped trey ceiling, a spa-like bath and a separate sitting room, while the lower level recreation area, with ample storage rooms and a full bath, is multi-faceted – zoned for a theatre area, gaming area and/or children’s play area…the choice is yours. Located in Meadowmont – a 435-acre extension of Chapel Hill, near downtown and UNC, and with close proximity to I-40 and

Highway 54 – this home is a rare find.

Offered at $575,000 3150 Heated Sq Ft Four Bedrooms, Three Full and One Half Baths Sited on .18 Acres in Meadowmont

41 43

14 Goldenrod Place Good homes are easy to find. But an exceptional one like this, situated on a cul-de-sac lot in coveted Croasdaile Farm, is rare. And to sweeten the mix, this all-brick home is set within pristine, well-maintained landscaping – what else would you expect of a home positioned with views of the Croasdaile Golf Course. Inside, a true family home such as this encourages and facilitates time spent together with a warming ambiance, open and spacious living spaces, and gorgeous views of the immaculate landscaping and pristine exterior picturesque setting from every angle. Hardwoods are found throughout most of the lower level and gleam from the abundant sunlight drawn in from plenty of wellplaced windows. The immaculate kitchen boasts granite counter tops and maple cabinets, while the first floor master suite is like a resort.

Located in Croasdaile Farm, this community offers convenience to Duke, major

highways, fine dining and entertainment.

Offered at $535,000 3272 Heated Sq Ft Four Bedrooms, Three Full Baths 44 42

Sited on .70 Acres in Croasdaile Farm

3 Winterfield Place Materials and architectural elements have been carefully selected in this stunning all-brick home to establish an aesthetically pleasing touch and to render beauty and value at every turn. An open floor plan in which every area of living space can be seen from the foyer is embellished by the vaulted ceiling in the great room – the epitome of spaciousness. The oversized kitchen is well-appointed with upscale stainless appliances and granite counters, while the first floor master represents a true suite with a sitting room and spa-like master bath.

Discreetly situated on a cul-de-sac lot, this home is surrounded by immaculate, well-established landscaping set to an irrigation system.

And found within the Croasdaile Farm community, swimming, tennis facilities and walking trails which connect to lakes stocked with fish are all just moments away. Welcome to a fine example of superior

craftsmanship and elegant design.

Offered at $530,000 3720 Heated Sq Ft

Three or Four Bedrooms, Three Full and One Half Baths Sited on .63 Acres in Croasdaile Farm

43 45

Pullen Park

46

http://www.raleighnc.gov/parks/content/ParksRe

pigs f ere ly h w ...

le c r i ers c

and ti g

ec/Articles/Parks/Pullen.html

chugs by n i le boat a r d at d sg . a . . lid ke .. p a . l e e o h nt e

Fun is had by Everyone!

47

the Land In the heart of Raleigh near downtown and NC State rests an historic site and one of the area's great treasures. Originally farm land, the 66.33 acres site was donated by Richard Stanhope Pullen on March 22nd, 1887. He expressly stated that the site was to be used for the "recreational enjoyment of citizens and visitors to Raleigh." This vision became the first public park in North Carolina. Though it was named Pullen Park, Richard Pullen was opposed to the park bearing his name, as he was consistently shy of publicity and thanks. He was actively involved in the planning and funding of improvements until his death in 1895 at the age

of 73; however, no monument or plaque to honor his contributions was errected for nearly 100 years. The city of Raleigh feared violating the clause stating that the land must be preserved for recreational purposes, but finally honored his gift in 1992 while other renovations and improvements to the park were undertaken. Pullen Park has seen great evolution over the years, but its contributions to the enrichment of the community have maintained the vision of its founder. Today, it is the 5th oldest amusement park in the country and 16th in the world.

48

Swimming In 1891, Pullen Park added its first swimming pool. Made out of wood and surrounded by a large pavilion and fountain, it was exclusively used by men. Four years later, renovations and additions were made to the structure which allowed women and girls to participate. North Carolina's Jim Crow laws prohibited the use of the pools by African Americans, but the rest of the park was completely integrated. This differed greatly from other NC parks, which designated "white" and "black" sections. The pool remained in place until 1992 when construction of the new Pullen Aquatic Center was completed.

Open year round, the facility also hosts the Special Olympics of North Carolina Summer Games in May and June.

Housed here are an Olympic sized swimming pool, a warm water therapy pool, a mezzanine with spectator seating, an outdoor patio and indoor locker rooms. Water exercise programs, recreational swimming, swim instruction for a variety of skill levels and lifeguard training are just a few of the options available to the general public. Passes can be purchased for yearly use, or a simple day of fun in the water.

49

Boating Park Keeper Wiley Howell is the namesake of Howell Lake, one of Pullen Park's popular attractions. Pedal boats and kiddie boats are available for leisurely rides to view some of the intricate landscaping. Howell and Pullen worked closely together on all of the landscape design elements, and many of the Magnolias, Oaks and Maple trees were planted by the partners. During the most recent renovation, the lake was dredged and drained for maintenance and a geothermal energy system was installed.

In 1899, Howell started a small zoo within Pullen Park. Stemming from the national trend of incorporating zoological parks into public parks, it began modestly with two raccoons. Eventually it housed an Australian owl, mink, bears, alligators and more. In 1938, the zoo was closed after Howell passed away. None of the other staff members had the experience to care for the animals, so they were relocated and sold to other zoological parks. It is one of the many attractions that has arrived and departed in the park's long history, but Howell's contributions are forever etched in both history and present.

50

Trains Always moving with the times and seeking to improve the park, a miniature train was added in 1950. It goes through a tunnel and around the park grounds. This train is a near exact replica of a locomotive built by the Danforth-Cooke Locomotive Works in 1863. Built during the Civil War in Patterson, New Jersey, the full sized train was 29 feet long, weighed over thirty-nine thousand pounds, and was tasked with the construction of the new track across the Rocky Mountains. The one in Pullen Park is a third of

the size of its predecessor, and is tasked with delighting children of all ages.

There are several swing sets, sand areas and other various playground equipment for children to enjoy, but the park caters to many recreational appetites. From the lighted tennis courts and baseball fields to the picnic areas and the well-manicured trails, there is something to be explored with every visit. In addition, the Pullen Park Arts Center and the Theater in the Park offer rotating classes and productions for the enrichment of all.

51

52

Carousel It is impossible to mention Pullen Park without including its most popular and most historic feature, the Carousel. In 1915, the park boasted a steam driven Merry-go-Round, but by 1920, the Raleigh City Board voted to "replace the antiquated machine."

America's first carousel company was founded by German immigrant, Gustav Dentzel. Though he began as a cabinet maker, he switched to building carousels full time in 1876. The Dentzel Carousel Company closed in 1928, but their works are still considered to be the finest of their era.

The one residing in Pullen Park was made by Salvatore Cernigliaro, a master craftsman of the Dentzel Carousel Company. 52 hand carved basswood animals, 18 canvas panels, 18 large guilded mirrors and 2 chariots each display unique design elements and distinct artistry. A restoration between 1977 and 1982 uncovered and documented the original factory paint, and each element was restored to its exact Munsell Color System paint color. This careful preservation of an artistic treasure has enabled it to still delight and inspire even today.

Of the thousands of American made carousels, there are less than 200 antique carousels left and less than 25 are Dentzel. Of those, only 14 are still in operation. It should come as no surprise that it was added to the National Register of Historic Places in 1976 and is a designated Raleigh Historic Landmark. Of all of Pullen Park's attractions, this is the most likely to bring out your inner child.

53

54

North Carolina State Capitol circa 1833

"Henceforth our youth may never need to roam the arts to study, better seen at home." The Raleigh Star

55

Greek

Revival

Americans of the early national period admired the classical architecture of the Greeks and Romans. Americans believed that they were shaping a form of government that had not existed since the time of the Roman Republic. A government in which the power resided with the voting citizens and the voting citizens chose their representatives.

Inspiration

56

Chronology

Prior to 1722, North Carolina was without a fixed capital, Governors (appointed by the King) lived in their own homes and the Assembly moved from place to place, meeting in private homes, and courthouses when available. Edenton was selected as capital in 1722, but by the time modest facilities were constructed, the population center had shifted to the south, so again the government migrated.

In 1766, New Bern was selected as the capital of North Carolina. One year later, the construction of Tryon Palace began, and the project was completed in 1771. Tryon Palace was designed to function as the governor's residence and office and as the meeting place of the Upper House. A few years later, during the American Revolution, New Bern was threatened by attack and the government fled the city, meeting in both coastal and inland towns. The "palace" was deserted and in 1798 all but one wing burned to the ground.

Post war, the population base of North Carolina shifted further west. In 1788, a State Convention was held in Hillsborough to consider ratification of the United States Constitution.

Here the delegates voted to fix the capital within ten miles of Hunter's Tavern in Wake County. Commissioners selected by the General Assembly to select the specific site met at Hunter's Tavern on March 20, 1792. Hunter apparently hoped to sell the land for the capital, but the commissioners adjourned to the residence of Joel Lane, from whom they purchased the land.

City plans were to be based on the existing capital of the United States, the city of Philadelphia. When first established in 1792, Raleigh consisted of four 99 foot wide streets, a few 66 foot wide streets, and five public squares. A central square was reserved for a statehouse building. The state legislature allotted $10,000 for construction of the State House. It was completed in 1796. In 1819 the architect, William Nichols, was hired to embellish the building. He added classical details, a third floor, a rotunda and a dome. In 1831, the remodeled capitol building was destroyed by fire.

Ironically, a smelting pot of zinc being used to fireproof the building tipped over onto the roof and started the blaze. The original statue of George Washington by Antonio Canova was damaged beyond repair. Today, a replica of the original stands in the center of the State Capitol rotunda.

57

In December of 1832, the legislature appropriated $50,000 for the new Capitol, and specified that it be built as an enlarged version of the old State House . . . a cross-shaped building with a central, domed rotunda. And, most important, it was to be fireproof. Plans were submitted by William Nichols, Jr., whose father had worked on the original building, and later by the New York architectural firm of Ithiel Town and Alexander Jackson Davis. The Town-Davis firm was famous for designing buildings in the Greek Revival Style.

Construction began based on the William Nichols, Jr. plan. The cornerstone was laid on July 4, 1833 with full masonic honors by the Grand Master of the State, Simon Jones Baker. Although walls were already several feet high, Nichols was replaced by Town and Davis as the architectural firm to redesign and complete the project. Their firm is credited with its exterior appearance and plan.

David Paton was hired by Town and Davis to supervise construction. Paton was born in Edinburgh and was the son of an acclaimed builder and architect. He attended Edinburgh University and trained as an architect and builder under his father's tutelage. After the death of his young wife, David traveled to the United States, arriving in New York. On arrival, Paton sought employment, and found such in the offices of Town and Davis. Due to his vast experience with the construction of fine-jointed, stone-built Neoclassical buildings they readily employed him and sent David Paton to North Carolina to oversee construction of the North Carolina State Capitol. His rich heritage and classical training led Paton to make valuable changes to the interior design. He is responsible for making the first floor offices and corridors fireproof by spanning them with masonry groin vaults. Paton moved the Supreme Court and Library rooms from the second to the third floor, and redesigned the east and west wings to provide more offices and committee rooms. Public galleries were added at the third floor level where top lit, domed vestibules were designed. In his most dramatic change to the edifice, Paton introduced the galleried circular opening between the first and second floor levels in the rotunda, employing sophisticated engineering techniques to create the breathtaking full height view from ground level to the skylit dome.

His cantilevered "pen-checked" stone stairs and simple Greek inspired coffers are elegant and spatially inspiring. Paton patterned the moldings, ornamental plasterwork, and the honeysuckle crown atop the dome after features of ancient Greek temples such as the Parthenon, the Tower of the Winds and the Erechtheum.

Paton's interior changes effectually made the building more functional, while introducing greater spatial sophistication and drama.

Town was offended by the significant alterations allowed to the original design without his approval, and officially withdrew from the project. In March 1835, the commissioners appointed David Paton as the architect. The commissioners increased Paton's salary from three dollars a day to five dollars a day, effective February 1, 1837. By early 1840, tension between Paton and the commissioners over additional compensation rose to a level the commissioners would not tolerate, and Paton was dismissed. For many years to follow, Paton futilely pursued his claim for additional compensation. He contended that his services as architect were far more extensive than those called for by his initial contract as superintendent.

58

The Capitol was completed in 1840.

The total cost including furnishings was $532,682.34.

That sum was more than three times the yearly gross income of the state.

59

House of Representatives This chamber was originally called the House of Commons, but was changed to the House of Representatives in 1868. It seats 120 members in a semicircular plan based on the design of a Grecian amphitheater. The ornate plaster moldings and column capitols are executed in the Corinthian style as seen in the Tower of the Winds in Athens. The top podium was used by the Speaker of the House, the middle podium was occupied by the clerks, and the lower curved table was assigned to newspaper reporters. The Secession Ordinance of 1861 was signed at this curved table. The Thomas Sully portrait of Washington (circa 1818) was saved during the State House fire of 1831. The carpet is a conjectural reproduction of the thirty-one-star pattern added in 1854 for warmth. There were thirty-one states in the nation at that time. The original 84 candle brass chandelier was lowered each day by pulley to light the candles. The mid-nineteenth century brass and copper chandelier that hangs in the house today is lowered on that same mechanism to change the light bulbs.

60

Behind The desk The desks are original and were built by William Thompson, a local cabinetmaker.

Standing in the chamber, it is fascinating to think of the men and women who served in this chamber. A personal favorite is Lillian Exum Clement. Lillian Clement was the youngest of six children, and was born in the Black Mountains of North Folk, North Carolina. In her early teens, Lillian's father moved his family to Asheville, where he helped construct the Biltmore House. Lillian attended school at All Souls Parish and then at Asheville Business College. An eager learner, she furthered her education by studying law under two local practicing attorneys -- J.J. Britt and Robert C. Goldstein. Lillian worked for the Buncombe County sheriff's office while studying law. In 1917, Lillian passed the bar exam and became the first woman in North Carolina to open her own law practice. Within four years she had earned a reputation as a quick-witted and skilled criminal lawyer. In 1920, the Buncombe County Democratic Party asked Lillian Clement to run for a seat in the North Carolina House of Representatives. The 19th Amendment had not been ratified and women were not allowed to vote. She won by a landslide over two male opponents. On January 5, 1921, at the age of 26, Lillian Exum took her seat in the North Carolina House of Representatives. She introduced the "Clement Bill", a measure calling for private voting booths and secret ballots. 61

the Senate The senate chambers are Ionic in style, and its details resemble the Erechtheum, a temple in Athens.

This room served the fifty-member Senate until 1961.

The two rooms at the north end of the chamber were originally the offices of the Speaker and the Principal Clerk of the Senate. The Senate has two additional rooms at the south end of the chamber that acted as committee rooms. There are three public galleries with balcony seating.

The rostrums at the front are slightly smaller than those in the House and originally seated the Speaker of the Senate, now known as the President of the Senate, or Lieutenant Governor.

The desks are original and built by the same craftsman who provided those for the House of Representatives, William Thompson.

The window shades feature laurel wreaths, a symbol of victory and honor. The lithograph to the right of the rostrum depicts the original Cordova statue of Washington. This 1840's lithograph presents the only known interior view of the 1796 State House.

62

The exterior Capitol walls are built of gneiss, a form of granite that was quarried in southeastern Raleigh and transported to the site on a mule-drawn Experimental Railroad, North Carolina's first railway.

Raleigh gneiss is about 544 million years old. It can be identified by characteristic streaks, bands and lines, as well as the veins of igneous rock containing pink feldspar and gray quarts cutting across the gneiss.

63

State Geologist Office Originally designed for and occupied by the Supreme Court, this room became the State Geologist's Office in 1856. The Supreme Court relocated to the first floor (for convenience) in 1843 and presided here only three years. The state geologist, Dr. Ebenezer Emmons, used this room to conduct a geological survey to determine the commercial and agricultural value of minerals and plants native to North Carolina. In glass cabinets, he displayed specimens from the Piedmont counties, including soil, seeds, rocks, and mineral samples. A Gothic gallery was added in 1858 to expand the collection, but it is likely that the upper shelves were actually used to store an overflow of books from the State Library. In April 1865, Union troops occupied Raleigh, and General Sherman's troops rifled the mineral collection. In 1866, the collection's remnants were donated to the University of North Carolina, and by 1868, the mineral cases were removed from the room. After the Civil War, the room housed the office of the superintendent of public instruction.

64

Dr. Ebenezer Emmons A pioneering American geologist whose work includes the naming of the Adirondack Mountains in New York.

Ebenezer Emmons (1799 - 1863) geologist, educator, and physician. Emmons pursued a vigorous tripartite career for over a decade. He became one of the four head geologists of a significant geological study of the state of New York. When Emmons discovered and proposed the presence of a system of stratified rocks, which he named as the Taconic system, beneath the Potsdam it caused great furor among geologists.

Emmons reportedly became embittered by the ostracism and ridicule of other geologists and accepted a position with the state of North Carolina as chief geologist in 1851. The work of Emmons and his assistants was lost during the Civil War. 65

the

StateLibrary located in this room from 1840 until 1888

In 1842 the staircase, gallery and shelves were added to hold the growing collection of books and papers. The collection began with more than two thousand volumes and grew to nearly forty thousand.

It was only open to state officials until 1845, when the general public was admitted. By 1859, the State Library had outgrown this space and was storing contents 66

into other areas of the Capitol. In the late 1880's, the State Library moved to a larger building.

Gothic elements pervade the room . . . from the iconic Gothic arches, to the decorative ceiling, to the highly decorative white oak woodwork and vertical elements.

It is an exquisite masterpiece and a pleasure to the eye.

History Remembers Completed in 1840, the North Carolina State Capitol is often described as being one of the best preserved capitols in all our nation.

It is a monument to our heritage, a living view into our past, and an inspiration for our future.

Each of us has unlimited opportunities to explore this historical and architectural gem. My apologies for only referencing a brief scatter of the many stories and beautiful scenes surrounding and inside the walls.

To explore possibilities to participate in activities at the State Capitol, to read the newsletter, to shop and support, or to see ongoing projects, go to

www.ncstatecapitol.org Over 100,000 visitors visit the North Carolina State Capitol each year. Self guided tours are available Monday through Saturday from 9 am until 5pm.

Admission is free though donations are welcome and appreciated.

Public guided tours are available every Saturday at 11 am and 2 pm.

For group tours of 10 or more, contact www.nccapvisit.org.

Special Under the Dome Tours take visitors into areas "behind the velvet ropes" Check the website or call 919.733.4994 for dates and times. Book ahead, the tour fills quickly.

67

C

Cooke Property

68

Proud Supporters of the

.

For more information about Duke Children’s, visit www.dukechildrens.org We are fortunate to have a Miracle hospital here in our area.

Duke Hospital has been a part of the Miracle Network since 1984. The

Children’s Miracle Network raises unrestricted funds for Duke Children’s Hospital & Health Center. These funds help support research, clinical care, advocacy and family support programs to help children and families heal both physically and emotionally. Duke Children’s treats over 200,000 patients each year and provides research findings that touch millions of lives worldwide.

Making a Difference

69

Nestled comfortably on 70 acres of

C

Duke Forest is one of the Triangle’s most fascinating and underdiscovered delights ... the Duke Lemur Center.

Here, research, conservation, and natural wonder come together to form an engaging atmosphere for professionals and casual viewers alike. And what is even more incredible is that only 20% of the funding comes from Duke.

The remainder is raised through donations and sponsors. lemur.duke.edu

70

Cooke Property the Duke Lemur Center They give so much ...

knowledge of the

environment &

unconditional

joy.

75 71

Cooke Property Inc. 2 Hastings Square Durham, NC 27707

Contact information Lucia Cooke

919. 225.3181

luciacooke@gmail.com Allison Cooke Zimmerman

919.818.5641

aczim11@gmail.com Cecil Cooke

919.599.4302

cecilcooke@gmail.com

C

Cooke

Property

www.cookepropertyinc.com