Just for fun, I decided to look at the top ten most expensive
listings in the Triangle Multiple Listing Service at the end of June..
Here are some observations from the exercise:
- The top ten range from $11,900,000 to $3,850,000. Only the top two
are over $5 M. It still amazes me that many homes in this top tier use
a discount from a round number like their audience consists of WalMart
shoppers.Â Why not make it a round $12M instead of $11,900,000. 100K
one way or another is not going to faze somebody shopping in this price
- Durham County doesn't break the top ten list. In fact, you have to
go all the way to number 19 before you get to a Durham listing. The
good news is that two homes in the top ten actually list Durham as the
address in MLS although both are in Chatham County. That's good news
because it means "Durham" is no longer a bad word and at least some
agents don't feel like they have to twist themselves into knots trying
to position their listings in Chapel Hill.
- Very few of the top ten homes are marketed with their own web site.
This surprised me since it is so easy to do. I can't say this
unequivocally, but if they're there, they aren't easy to find. Doing
Google searches on the addresses did not reveal any. This means that
what is available online is the MLS information about the homes passed
through to agent sites and syndicators like Trulia.com realtor.com, zillow.com and
others. There's nothing about the communities they are in.
- Several of the agent remarks in MLS are in all caps. On-line that
is considered shouting and is generally considered rude. It's also
harder to read. What are they thinking?
- Most agents don't put the owners name in MLS. We know that many
affluents guard their privacy but the irony is that it's all a matter
of public record and anybody can find the details with a few entries
and a few clicks. This crop included a professional athlete, a
prominent realty executive, and a well known media personality. The
most difficult one to crack was hidden behind an LLC. It took all of 5
minutes to figure it out. The other irony is that at least a couple of
these homes are ridiculously flamboyant. Makes you wonder. It might
actually help market the homes if people knew who owned them.
For more information about the Durham luxury home market visit http://durhamluxre.com.
Here are links to the top ten most expensive homes in the Triangle MLS as of June 27, 2009:
1. 7505 New Sharon Church Road - $11,900,000
2. 1400 Alpine Creek Drive - $7,950,000
3. 250 Blue Violet Way - $4,900,000
4. 2600 Village Manor Way - $4,700,000
5. 2720 Toxey Drive - $4, 500,000
6. 1300 Glennis Court - $4,398.000
7. 367 Royal Sunset Drive - $4,300,000
8. 2421 Acanthus Drive - $3,950,000
9. 24107 Cherry - $3,950,000
10. 10625 Marion Stone Way - $3,850,000