Research Triangle Park Homes for Sale & Real Estate in North Carolina
North Carolina’s Research Triangle Park, also called RTP, is a sprawling research and development park in the Durham and Wake Counties. With more than 130 business tenants, the park is a hub of business activity that supports nearly 40,000 jobs. These employees live in the surrounding counties, a region that has come to be known as the RTP area. This region is loosely defined as Durham County, Orange County, Wake County and their municipalities. The main cities and towns are Raleigh, Cary, Apex, Morrisville, Durham and Chapel Hill. The RTP area is populated by more than one million people who are, on average, young, educated and affluent. The lifestyle is distinctive in its variety; the educational, employment, cultural and housing opportunities are plentiful. The overall culture reflects the interests of the highly educated and motivated population. Performing arts, history, education, nature and professional sports are all readily available. Examples include the North Carolina Symphony, Carolina Ballet, Duke University, University of North Carolina, North Carolina State University, Durham Bulls Athletic Park and the Alltel Pavilion, all of which are nearby. The RTP region has so much to offer that it has been repeatedly acknowledged by national publications as one of the country’s most enjoyable places to live. Real estate options consist of single-family homes, condominiums, townhouses and undeveloped land.
Price Range of Local Houses in Research Triangle Park
Real estate in the RTP area is booming. New residential communities are being developed in this area to keep pace with the strong demand. Prospective buyers are attracted to the progressive business environment and overall convenience of RTP area living. Residential options include single-family homes, condominiums/townhouses and undeveloped land. Community types include planned neighborhoods, golf neighborhoods, rural areas, retirement communities and urban areas. Average home prices vary by city, starting from about $100,000 for a two-bedroom town home up to over $1 million for executive single-family homes. For the most part, properties closest to the RTP area command the highest values. A 3,000 square foot estate near RTP may be priced at about $600,000, while a similar home further away could be $400,000.
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