Raleigh Regional Association of Realtors Meeting — Schools and Statistics
This morning I attended the RRAR 2006 Real Estate Trends meeting (sponsored by Wachovia Mortgage and Treyburn — thanks guys!) where Patti Head, represented the Wake County Board of Education and Donald Haydon, WCPSS Chief Facilities & Operations and Dr. Terri Mozingo represented the Durham Public Schools. Also on hand was Stacey Anfindsen, a RRAR Director who provides us with a wealth of statistics and information about our market, but more about that in a minute.
Durham County Schools — 7th largest school district in the state; fourth largest employer in Durham County; diverse school district with students from more than 60 counties who speak 79 languages; features the wide-ranging Schools of Choice plan in the state, with many options for parents and students, including Magnet Schools, Career Pathways, and the state’s most flexible transfer policy. Achievements: Home to four Honor Schools of Excellence and eight Schools of Distinction designated by the state ABCs of Accountability program in 2004-2005; The number of African-American students reading proficiency in grades 3 through 8 has increased by 50% since 1997, while the same group of students performing mathematics at or above grade level has jumped 59%; average SAT score of 1005, with one of the state’s top 5 participation rates; average SAT score of top 10% of students is 1254, 79 points higher than NC average for top 10 percent, and 68 points above national average; DPS high school students scored their highest overall averages on the Advanced Placement exams for the 2004-05 school year within the highest participation rate thus far. Source: http://www.dpsnc.net/ and from notes taken at the meeting.
Wake County Schools (http://www.wcpss.net/) - Second largest school system in the state (Charlotte/Mecklenberg is first), however, it is predicted that within two years Wake County will be #1. Wake County Schools rank #23 in the nation in size. According to Patti Head, Wake County Schools are #1 in the state and #2 nationally for Nationally Certified Teachers. There were 7,566 students added to the WCPSS this year! (Note — that is 20.7 per day — almost a kindergarten class a day!!) It is predicted that in the next five years another 40,000 students will be added! This is a good time to throw in my support for the upcoming bond issue that will be used to fund the new schools we *must* have to accomodate this growth. We have more and more people relocating here for our wonderful schools and extraordinary quality of life and we must provide enough schools for the influx of children who are coming in. Wouldn’t you agree there is not a choice? *Please vote FOR the bonds in November.* Our children are counting on you. Thank you.)
Statistics from Stacy Andindsen — Stacy issues the TARR report each month (http://www.tarreport.com/) that is full of great information we real estate agents use to study market trends. Stacy owns Birch Appraisal Group of Cary and is also a Director of RRAR and is a genius when it comes to capturing meaningful information we can use to be well informed agents. Here is what Stacy reports — The workforce in the Raleigh/Cary/durham MSA increased 4.4% in the past two years; MLS closed 10% more sales this year as compared with 12 months ago; new home inventory (”spec homes”) has increased 15% over same time last year; re-sale inventory increased 2% over last year; Current supply of housing located in Wake/Durham/Orange/Johnston counties stands at 4 months (an extraordinarily low number — that is why the builders keep building!!); showings placed through our Centralized Showing System increased 14% over same time last year; the average days on the market in the Wake, Durham, Orange and Johnston is 52; average sales price in these four counties is $225,000; and I will end with this statistic –
Do you know how many re-sale houses have closed at or above 1 million within our area MLS system during the first 8 months of this year???
The answer is 105! (In 2005 there were 63 and in 2004 there were, coincidentally, also 63.) In 1980 I remember showing a home in MacGregor Downs listed at a whopping $185,000 — an extraordinary amount for Raleigh Area Real Estate at the time!! My how things have changed 
