Home Buying in Durham>Question Details

Kaedae, Other/Just Looking in Durham, NC

Which neighborhood has the best resale value? Hope Valley Farms, Grove Park or Woodcroft?

Asked by Kaedae, Durham, NC Wed Mar 25, 2009

I would like to sell a condo I own and move to a single family home. I like all three neighborhoods but I'm trying to make the best decision.

Help the community by answering this question:


Hi Kaedae
All three great neighborhoods, Hope Valley has been the best selling neighborhood in Durham for the last 2 years. Woodcroft also sells very well and both have been increasing in value, but Hope Valley at a higher percentage. Grove Park was the 2nd best selling neighborhood last year in Durham, however a number of factors have lead to a drop in value in the last 6 months or so. Hope this helps, let me know if I can help in any way.
Web Reference: http://www.colvinm.hpw.com
1 vote Thank Flag Link Wed Mar 25, 2009
According to the TARR Reports, the neighborhoods all have a fairly strong average appreciation rate:

Hope Valley Farms - average 3.22% appreciation
Woodcroft - average 3.18% appreciation

Durham as a whole had an average 2.11% appreciation rate, so both neighborhoods are above average.

Grove Park has many different sections, a real estate agent will need to look closely at the price point and section you're considering.

These three neighborhoods were the three top sellers in Durham for 2008.
Web Reference: http://www.StantonHomes.com
1 vote Thank Flag Link Thu Mar 26, 2009
It has ben my experience over the last 25 years that Woodcroft has had one of the best track records as far as resale and appreciation in our market area. Hope Valley Farms has also been quite strong, it is my opinion that either one of these neighborhoods would be an excellent investment and a very enjoyable place to live. Ii is my personal feeling that they are both better on both standpoints than Grove Park.

If i can be of further assistance, please fel free to contact me at anytime.

Take care,

Fritz HIne
Coldwell Banker HP & W Realtors
1 vote Thank Flag Link Wed Mar 25, 2009
All three communities show a history of strong resale. Woodcroft was the top selling neighborhood according to the MLS data for fourth quarter 08. However, HVF and Grove Park also rank at the top of the list. I just listed a home in HV and we had a contract in less than a week. If you would like me to send you the fourth quarter statistics, please contact me via my website.
1 vote Thank Flag Link Wed Mar 25, 2009
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