What does $1 million get you in Raleigh?

You’ve heard it again and again, Raleigh’s real estate market is hot. But with that honor comes higher price tags. With more than 134 active listings at over $1 million dollars, what can you expect to find across the Triangle at this price point?

“For this price range you can get anything from a 7,000-square-foot mini mansion in the outskirts of town, or you can get a new townhouse going up in St. Mary’s Street with about 2,800 square feet.  Buyers are willing to pay much more for the location.  The old adage holds true in real estate:  Location, Location, Location,” says Tristan Pan of United Real Estate.

With more people moving to the Triangle and many searching to live downtown, prices are getting more competitive for smaller footprints. “The world is re-urbanizing and Raleigh is following suit. Which means that because of  ‘affordability’ one lives in less square feet to be near a core or one pays more for the land or home as the location becomes more desirable or scarce,” says Trish Healy of Hyde Street Holdings, developer of Hargett Place.

However, the further north you go the more property you’re likely to gain, with several new luxury communities offering more than 5,000 square feet with pools and high-end finishes for the same price. Here are a few examples of what you might find across the Triangle.

A Distinguished Home South of Country Club Hills
Just under 4,000 square feet on a quarter-acre lot
1418 Eden Lane, Sheri Hagerty Realty Group
An Urban Rowhouse with Stunning Views
About 2,300 square feet with shared walls and a rooftop terrace
121 S Bloodworth St., Jackie Caprio, Fonville Morisey Barefoot
A Custom House in the Heart of Midtown
Around 3,500 square feet on a quarter-acre lot
2900 Montpelier Ct., Jewell Parker, Berkshire Hathaway HomeServices YSU
A Southern Charmer at Wakefield Plantation
More than 6,300 square feet on a half-acre lot
2304 Wakefield Plantation Drive, United Real Estate
A Sprawling Home in North Raleigh
Over 7,000 square feet on almost 14 acres
10300 Creedmoor Rd., Marti Hampton Team, RE/MAX One Realty
A Modern Townhouse in Glenwood South
Just over 2,600 square feet in The Saint townhome property
202 Dundas Lane, Glenwood Agency, LLC
Alexandra Drosu
Alexandra Drosu

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