Cary, North Carolina. During the last 40 years Cary has grown at a sizzling pace; from 7,500 to 115,000 residents. Much of this growth is due to its close proximity to the Research Triangle Park. In fact, the August issue of MONEY MAGAZINE has an article called “Best Places to Live” in which they rate cities across America (with a population of under 300,000) on the basis of jobs, economy, safety, education,k ease of living, art, leisure and park space. In this list of 90 cities Cary ranked number 5 over-all and had number 1 ratings for jobs, economy and safety. All of which brings me to an article by Dudley Price in today’s Raleigh News and Observer. In it he duscusses the real estate market for single men and, more specifically, in Cary. While the marketing of single family homes, condos or townhomes to single family men has not been something major homebuilders have done in the past, the currently slowdown in the nation’s economy has caused some of them to be more aggressive in marketing to many different segments of the market place.
The National Association of Realtors indicates that during 2005 married couples were 61% of the housing market, Single women 20% and single men 9%. To digress for a moment, of single women buying homes, 60% purchased single family homes, 18% purchased condos and 17% townhomes. Of single men - 62% purchased single family homes, 17% townhomes and 16% condos.
In Cary KB Homes is marketing some townhouses in its Twin Lakes subdivision toward the single male buyer. And what do they build into a townhome for single male buyers? Stone floors, stainless steel appliances and glass-walled showers. Of the 23 units sold in the first phase, men have purchased nearly half. KB Homes townhomes are 1,378 square feet to 1,573 square feet and cost from $155,000 to $200,000.
John Fish (919) 696-3474 Email: marvmax@mindspring.com Website: www.JohnFish.com
