Next Edge

MARCH STATS

• Market Stats: Prices down YoY. As I predicted inventory rising and smaller buyer pool due to higher rates is starting to impact pricing. Inventory up YoY and MoM. Rates dipped slightly last week. If rates drop to under 6 the buyers market will quickly turn. Get in now for your best deal. If you hear about on the local news, you will be too late.

• If you are a buyer: Continue to be aggressive in your offers. Keep DD low and ask for rate buy-downs or concession to help pay for your buyers agent. 2 contracts for my buyers in June 8% and 6% discount off list price. Get in now and the refi later.

• If you are a seller: Be realistic with your pricing from Day 1. Spend money improving the condition of your property before listing (make repairs, staging the home, landscape/paint etc.). The good news if rates drop you will be able to get a deal done and not give up as much of your bottom line.

Please note: The answer to all real estate questions are “it depends”. Homes, locations, zip codes, subdivisions and most importantly, your goals all play a part in real estate advice. Above is guide to what we are seeing in the overall market.

EDUCATION
Condition of a Home at Closing??

No, the Seller Doesn’t Owe You Fresh Carpet Shampooing—Let’s Talk About Condition at Closing

Let’s set the record straight: buying a home is a major milestone, and yes, it should feel exciting, fresh, and clean. But does the seller owe you a freshly shampooed carpet, sparkling grout, or professionally wiped down ceiling fans at closing?

Sorry, friends—that’s not in the contract.

According to North Carolina’s standard 2-T Offer to Purchase, the seller’s obligations regarding the home's condition are actually pretty straightforward (and not as glamourous as HGTV might have led you to believe).

Let’s start with Section 8(c). The seller must provide reasonable access for inspections, repairs, and your final walkthrough. They also must keep the existing utilities on and functioning through closing—yes, the lights and water should still work. Handy for that last check!

Next, Section 8(d) says the seller needs to remove all personal property not included in the sale, as well as any trash and debris. Think: leftover boxes in the attic or that charming garden gnome they decided not to gift you. If it’s not part of the deal, it has to go. But that doesn't mean the house has to be polished like a showroom. There’s no legal requirement for the home to be “professionally cleaned” unless it’s specifically agreed to in writing.

Finally, Section 11(a) spells it out: the home must be in substantially the same or better condition as it was when you made the offer—reasonable wear and tear excepted. So if a light scuff appears on the wall during move-out, or the lawn is a bit dry, that’s not grounds for terminating the deal.

Buyers, we get it—it’s easy to imagine stepping into your dream home with that fresh-clean smell and zero dust bunnies. But in North Carolina, unless otherwise negotiated, what you see is what you close on.

Want perfection? Hire a cleaner, book a carpet steamer, and schedule that deep scrub after closing.

You’ll be surprised how great it feels once it's truly your home.

COMMUNITY
YMCA Opens in Chatham Park!

A Strong Foundation: The YMCA’s Legacy in North Carolina
When you think of the YMCA, what comes to mind? Maybe it’s a gym, swimming lessons, or youth sports. But for over 180 years, the Y has been a cornerstone of strong communities, fostering well-being, connection, and personal growth. That’s why Chatham Park’s partnership with the YMCA of the Triangle isn’t just about adding an amenity—it’s about creating a place where every generation can thrive together.

The YMCA of the Triangle has been a driving force in shaping healthier, more connected communities across North Carolina, serving seven counties—including Chatham, Orange, Durham, and Wake. With a mission rooted in youth development, healthy living, and social responsibility, the Y has impacted countless lives.

For Preston Development Company and its owners, Tim Smith and Bubba Rawl, partnering with the YMCA is nothing new. Their deep commitment to community enrichment is evident in their developments, where they have actively integrated YMCA facilities, including in Wakefield and Knightdale Station.

Even before their contributions as Preston Development, Tim Smith set the precedent by donating land for the Cary YMCA—an initiative that paved the way for future philanthropic efforts alongside Bubba Rawl. Their dedication to creating vibrant, well-balanced communities is further reflected in their instrumental support and direct funding of the Chatham Park YMCA. This partnership seamlessly aligns with their vision for Chatham Park as a thriving, connected community where residents can live, work, and play.

“The Y is more than just a place to work out—it’s about building relationships, shaping lives, and creating a sense of belonging,” said Chuck Smith, Landscape Architect and Vice President of Planning at Preston Development.

A Community-Driven YMCA
Unlike traditional HOA-style amenities, the Chatham Park YMCA is designed to be an inclusive hub for the entire Pittsboro community. More than just a fitness center, it serves as a gathering place where people of all ages and backgrounds can connect, grow, and support one another.

As Forrest Perry, Vice President of Operations for YMCA of the Triangle, explained, “This facility isn’t just for Chatham Park residents—it’s for the entire county.”

Beyond constructing a facility, the YMCA at Chatham Park has been carefully designed to foster genuine community engagement. As Perry emphasized, “This isn’t just about building a facility—it’s about building relationships and ensuring that everyone in our community has access to opportunities for growth, health, and connection.” By welcoming individuals and families from across Pittsboro and beyond, the Chatham Park YMCA provides a space where people can form meaningful bonds while pursuing their wellness goals.

Future-Ready: A Sustainable, Connected YMCA
Built with the future in mind, the Chatham Park YMCA incorporates sustainable features, flexible spaces, and outdoor connectivity—reflecting valuable lessons learned from the COVID-19 pandemic.

Key Design Elements

• Eco-friendly stormwater management: A beautifully integrated system that filters and slows rainwater runoff while enhancing the natural landscape.

• Smart energy solutions: A state-of-the-art geothermal system improves energy efficiency and reduces the Y’s environmental footprint.

• Seamless outdoor access & amenities: Directly connected to Chatham Park’s greenway system, this facility makes it easy to bike, walk, or jog to your workout. One highlight is the one-of-a-kind airnasium—an open-air gym designed to let you stay active while enjoying the fresh air.

The Chatham Park YMCA, located in the new NoVi neighborhood of Chatham Park, officially opened its doors on March 15, 2025. The facility is located at 120 Parkland Dr., Pittsboro, making it a convenient and accessible amenity for the entire community. This full-scale community hub is already making a significant impact on Pittsboro and the surrounding area.

Endless Ways to Move, Connect, and Thrive
Whether you’re looking for a high-energy group workout, a peaceful swim, or a vibrant space for your kids to learn and play, the Chatham Park YMCA has something for everyone.

What the Chatham Park YMCA Offers:

• A state-of-the-art wellness center and group exercise studios where individuals can increase their physical activity and access healthy lifestyle resources.

• Versatile community spaces perfect for family-friendly events, workshops, and social gatherings.

• A top-tier aquatics facility featuring an eight-lane competition pool alongside a resort-style pool with a water slide.

• A child development and after-school care area.

• Direct access to Chatham Park’s extensive trail system and a 30-acre public park.

Beyond its physical amenities, the Y’s real impact comes from its programs—from youth sports and after-school care to senior wellness initiatives and community-building events.

A Lasting Impact on Chatham Park and Beyond
The Chatham Park YMCA is more than a fitness center—it’s a place to gather, learn, grow, and build lasting connections. Through this partnership with Preston Development Company, the Chatham Park YMCA serves as a cornerstone of community life for years to come.

With state-of-the-art facilities, innovative design, and a commitment to health, youth development, and social responsibility, this YMCA is already becoming a true centerpiece of Chatham Park’s vision for a thriving, connected community.

Ready to Experience the Chatham Park YMCA?
Ready to see what makes the Chatham Park YMCA more than just a gym? Stop by today for a tour, join a class, or meet your neighbors at a community event. Your new favorite gathering place is waiting! Visit their website to learn more or become a member today at YMCA Triangle – Chatham Park!

About Chatham Park
Developed by the award-winning Preston Development Company, Chatham Park is a technology-centric 8,500-acre live, work, play, learn master-planned community located just outside of Raleigh in Pittsboro, North Carolina. Founded on five pillars: Innovation, Connectivity, Quality Design, Healthy Balance, and Stewardship, the vision of Chatham Park is to offer a balanced, well-rounded lifestyle for those In Pursuit of a Life Well Lived.

More than 2,000 acres will be dedicated to parks and open space in addition to a wide range of amenities, including over 30 miles of scenic walking, biking, and multimodal trails; access to the Haw River and Jordan Lake; an amphitheater for live music and entertainment; shops, dining, art galleries, and much more.

TRIVIA
Weekly fun fact!

What city has the highest price home for sale in the Triangle area?

REAL ESTATE
The Triangle’s Population Boom: What It Means for Buyers and Sellers in 2025

The Triangle’s Population Boom: What It Means for Buyers and Sellers in 2025

The Triangle region—encompassing Raleigh, Durham, and Chapel Hill—continues to be one of the fastest-growing areas in the United States, and this trend is shaping the local real estate market in ways both buyers and sellers should know.

Population Growth by the Numbers

• Since 2020, the Raleigh-Cary metro area has grown by 10.2% to 1.6 million people, while the Durham-Chapel Hill metro area has increased by 6.6% to around 621,0001.

• The broader Raleigh-Durham-Cary area now totals 2.4 million residents, making it the 10th fastest-growing region in the country2.

• Much of this growth is fueled by both domestic and international migration. In Raleigh, 31% of new residents are international migrants; in Durham, it’s an impressive 76%1.

Why Are People Moving Here?

• Job Opportunities: The Triangle’s robust job market, anchored by Research Triangle Park and major universities, is a major draw for professionals in tech, biotech, and education34.

• Affordability: Compared to other major metros, the Triangle offers relatively affordable housing and a lower cost of living, attracting both young professionals and families54.

• Quality of Life: The region’s mild climate, access to outdoor recreation, and vibrant cultural scene make it highly desirable for newcomers from across the country564.

Suburbs and Outlying Counties Are Booming

• Suburban towns like Apex, Holly Springs, and Morrisville are among the fastest-growing in the nation, with rapid housing development and job creation23.

• Outer counties such as Franklin (+11.3%), Johnston (+11.1%), and Chatham (+6.5%) have seen especially strong population increases since 20202.

Real Estate Market Trends

• Demand Remains High: The influx of new residents keeps demand for homes strong, especially in spring when both listings and closed sales surged by over 25% compared to February 20257.

• Inventory Still Tight: Despite new developments, the Triangle’s housing supply remains below what’s considered a balanced market, with only 2.8 months’ supply as of March 2025 (a healthy market is 4–6 months)73.

• Rising Prices: The median home price in Raleigh reached $465,000 in late 2024, up nearly 15% from the previous year, and homes are selling faster—averaging just 37 days on the market8.

The Bottom Line
The Triangle’s strong economy, population growth, and quality of life continue to drive one of the most dynamic real estate markets in the country. Whether you’re looking to buy or sell, understanding these trends can help you make the most of the opportunities in 2025.

ANSWER

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