The North Hills neighborhood within Raleigh has transformed over the last decade due to significant commercial real estate investment and redevelopment. Given the posh shopping, fine dining, regular entertainment, and quality of living in the North Hills area, the area attracts Raleigh natives, local movers, and many folks relocating from other places. For the outdoor lovers, North Hills also has a couple city parks, Greenway access, and several membership pools.
Original Homes in North Hills:
Most of the original homes in the area were built during the 1960’s and 1970’s, and as a result you see many ranch, split level, and split foyer homes among the original homes built. Here and there, one can find a home with a 60s/70s contemporary flare, still sporting vibrant colors and unique angles. As well, there are plenty of original, full two story homes.
Original homes in North Hills provide plenty of space and comfort for the modern buyer. Many homes have been remodeled by new homeowners over the years, and there are plenty of modern homes that may come on the market which have updated kitchens, bathrooms, and other amenities.
However, there are also (increasingly few) homes which have been lived in by the same owner since the home was built. (Your ReReLo author bought his North Hills home from the original owner of ~50 years in 2014.) Most homes are move in ready, though if they have not been updated in decades you may have to endure some sky blue, avocado green, and light pink tile work until you can remodel.
New Homes in North Hills
There is some undeveloped land in North Hills, and commercial real estate investors continue to build up, adding new high-end apartments, condos, and hotels. North Hills continues to add retail and multi-family homes, however there are not any large swaths of single-family homes being developed as you would find on the perimeter of the Raleigh area.
In the North Hills neighborhood, new homes typically spring up when an original home is torn down. As recently as five years ago, the North Hills real estate prices would not support a tear-down for new construction at a profit. The economics have recently changed, and builders buying less well kept original homes are finding that they can tear down that home and build a new one in its place.
Given the larger lot sizes in North Hills, new elegant homes are built in the 4,000 sq/ft range and command prices approaching $600k.
How to Find a Deal on a Home in North Hills?
Since many homes in North Hills still sport their original finishings, such as colorful tile and dated kitchen equipment, deals can be had in the area. If you can see the potential in a home once kitchen and bathrooms have been remodeled, it is possible to buy a home in North Hills in the $300k+ range and make significant improvements in a hurry that will likely hold their value.
Typical Lot Size:
North Hills was developed during the 1960’s and 1970’s, during which time Raleigh (and much of America) experienced a suburban migration. Families moved away from downtown Raleigh and into the suburbs. As such, North Hills has larger lots than some other popular neighborhoods in Raleigh, such as Five Points, Mordecai, and Boylan Heights, as the real estate buyer expectations at that time included more space. North Hills lot sizes tend to be in the .4-.5 acre range, with some outliers here and there.
Average Home Prices in North Hills:
Prices for homes in North Hills vary depending on whether you are buying an original home or new construction.
Original homes in North Hills typically range from $300k to $500k, depending on size and remodeling history.
New construction in North Hills could approach $600k depending on the size and conveniences of the home.