Raleigh is the fastest-growing city in North Carolina—which should come as no surprise to locals, who have seen a population increase of around 29,000 people per year since 2015. This growth is driven in part by a lower cost of living in comparison to similarly sized U.S. cities, and also by economic opportunity. This opportunity is most accessible in the heart of our city: inside the Beltline.
Living inside the Beltline offers convenience, community, and culture to its residents as well as a beautiful combination of history and forward development. The area’s high appeal and continued population growth contribute to high demand for housing while inventory remains low. These factors have driven record appreciation rates in Raleigh—so if you have a home shopping budget between $650,000 and $1,500,000, take a look at the following breakdown of what’s selling inside the Beltline.
What’s selling between $650K and $1.5M in Five Points
Five Points is a historic district made up of five smaller neighborhoods, including Hayes Barton, Vanguard Park, Bloomsbury, Georgetown, and Roanoke Park. This convergence of longstanding neighborhoods has created a strong community that seamlessly entwines modern convenience with historic charm.
Five Points is in a seller’s market, meaning that demand is high and inventory is low. It’s not uncommon to see houses leave the market after just two days, and there can be fewer than 10 active properties in this area at any given time.
A $650,000 budget in Five Points will land you two bedrooms, two bathrooms, original hardwood floors, and a pristine, updated kitchen, on a lot featuring lush trees and space to landscape. You may find homes needing some updating at this price point, including some rooms with carpet and or an original fireplace that could use a cosmetic facelift.
Around $1.5M, you’re looking at luxury, four-bedroom homes that are fully updated throughout. Custom cabinetry, fine finishes, and trendsetting design are common features, as well as spacious, green lots. There are new construction options at this price point, especially if you look in Hayes Barton.
What’s selling between $650K and $1.5M in North Hills
North Hills is one of Raleigh’s largest neighborhoods, spanning an area half inside and half outside the Beltline. Inside the Beltline, North Hills is the core of Midtown. While its residential streets are lush and wooded, it provides easy access for professionals to the heart of Raleigh’s economic center. Sophistication and good taste are woven into the fabric of North Hills—which is evident from the high-class homes to the premier shopping and dining options.
North Hills is in a seller’s market characterized by extremely low inventory and astronomical demand. Last month, most homes in this area sold before spending even one full day on the market.
If you’re overwhelmed trying to navigate a breakneck market, a member of our team will be happy to help.
You won’t find many homes near the $650K price point inside the Beltline in North Hills. You can stay in North Hills and head outside the Beltline, where you’ll find 4-bedroom, 2,500 square foot homes on ample lots featuring well-thought landscaping and Raleigh’s characteristic oak trees. But to get those same features inside the Beltine, you’ll need a budget between $1M-$1.5M.
What’s selling between $650K and $1.5M Downtown
Vibrant and brimming with activity, Downtown Raleigh is a perfect choice for anyone who wants to be close to the action. A true center of arts and innovation, this small neighborhood packs a cultural punch. It’s home to nearly 30 art galleries and museums as well as the Duke Energy Center for the Performing Arts and the North Carolina Theater. Downtown is also one of the most walkable and bikeable neighborhoods in Raleigh, making it a great pick for carbon footprint conscious home shoppers.
Near the $650,000 price point, you’re looking at one to two-bedroom condos around 1,300 square feet. Finishes range from totally redone to needing some love, with some older units containing carpet and dated fixtures. Around $1.5M, you can expect a top-floor, luxury condo with three bedrooms and three bathrooms, a gourmet kitchen, sparkling finishes, and don’t forget that million-and-a-half dollar view.
Navigating the real estate market inside the Beltline?
Today’s real estate market presents unique challenges to buyers and sellers alike. Inventory is low, demand is high, and appreciation is at record rates. Sellers should prepare to field bidding wars, while buyers have to battle it out—and above all, everyone has to be ready to move fast.
If this market is overwhelming to you or you simply want an expert by your side while you navigate it, complete the form below. Someone from our team—with over 20 years of experience in Raleigh—will reach out to lend a helping hand. We know how to make your real estate experience as smooth as possible, even in a turbulent market.
PS - Are you already a Raleigh homeowner? Do you need to sell before you buy? Learn your home's value in today's market to get started.
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