If you are looking to sell land in the Wake County area to develop please see my page dedicated to Wake County Land Sales.
Real estate in Wake County is moving quickly these days, and many people are taking advantage of the opportunity to sell their property and make a profit. Many are choosing to move to areas further outside the city limits, and what was once sparsely populated farm land just a decade or two ago, is now a more developed, but not as congested alternative to living in the city.
Commercial, residential, and raw land
The real estate market can be broken into three categories, commercial, residential, and raw land. Commercial real estate typically comes with the highest price tags, but residential and raw land are the two that are in highest demand at the moment. In fact, residential real estate is so sought after, that many agents can’t keep a listing in their inventory for more than a few days, and each agent may only have half a dozen listings available. By comparison, real estate agents in Chatham County usually have anywhere from 50-75 listings in their inventory, and they may take weeks or months to sell, rather than just a few days.
This explosive growth of Wake County has been very profitable for any one that owns land. Empty land is worth upwards of $60,000 and acre in many areas. There are plenty of old farm houses that sit on 5-10 acres of land, that the owners are eager to sell, making a huge amount of money in the process. The unfortunate news for many of these types of sellers, though, is that nearly every interested buyer has no interest at all in the house, and only has use for the land it sits on.
Buying a multi-acre tract of land and splitting into as many quarter-acre lots as possible is the best and most profitable use of that land in today’s real estate climate. Once purchased, the house would be demolished, any trees would be cleared, roads paved, and several dozen houses built and sold to the droves of eager buyers moving to the area. Each and every year, tens of thousands of people relocate from all across the United States, and they won’t all fit into a 5 bedroom farm house with a few acres of land to share.