Knightdale Commercial and Residential Real Estate Growth
By brad carroll on September 3rd, 2008Only a few years ago, Knightdale was not much more than a sleepy small town salt and peppered with starter homes and a few fast-food restaurants. Today, Knightdale real estate is teeming with life and energy.
Knightdale sat quietly by as Raleigh continued to see fast expansion in almost all areas except for east. All that has changed in recent years as national retail stores, and savvy investors dump millions of dollars in new commercial and residential real estate developments in the Knightdale area.
Putting Knightdale Real Estate into Perspective
At the time of writing, there are 236 Knightdale homes for sale in the MLS* (within the city limits of Knightdale). Of the 236 homes, almost 25% are above $300,000. This is quite a contrast considering that only 5 years ago, the average home price in Knightdale was not even $120,000. In those 5 short years, home prices in Knightdale has risen more than 70%*! Just a few years ago, ½ Million dollar listings were almost unheard of in Knightdale. Today, it’s rare to search Knightdale real estate and not see at least a handful of these listings. And with the many developments already planned or under construction, these luxury homes are sure to be even more common place for Knightdale real estate.
RTP Gets Closer to Knightdale
Much of this growth is spurred by the opening of I-540 and Highway 64 By-Pass. Knightdale was suddenly a viable option for employees of RTP and Raleigh to call Knightdale home. Instead of commutes filled with traffic jams and stop lights, Knightdale commuters can be in RTP or at the RDU Airport in 15-20 minutes. And at the end of the day, a short commute home brings them back to a small town that has seem to find that perfect balance of “small town” friendliness with big city amenities.
*source: Trulia and Realtor.com
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Philip Brown