Orange County NC Website
Browse       Search
�u��o� ��� �•����.. PAC <br />CHARLES M. HARTSOCR, JR. <br />MAI <br />LKJ <br />Member, American Institute of <br />Real Estate Appraisers <br />Mr. Donald J. Easterlin, <br />Nello L. Teer Company <br />Post Office Box 1131 <br />Durham, North Carolina <br />Dear Mr. Easterlin: <br />Ml-1Vi:111i141Wi i,IJ <br />September 1, 1987 <br />III, President <br />27702 <br />HARTSOCK & SHAW, INC. <br />4054 BARRETT DRIVE <br />RALEIGH. NORTH CAROLINA 27609 <br />919- 79 t -3920 <br />In accordance with your request, I have made a study of real estate <br />transactions in the Oak Park Subdivision in proximity to your <br />Crabtree Quarry. At the closest point, Oak Park is on the east side <br />of the Duraleigh Road, immediately opposite the quarry and at the <br />farthest point, the Oak Park Subdivision is approximately three - <br />quarters of a mile from your quarry site. I have examined the <br />Multiple Listing Service records for the years of 1984 through the <br />first six months of 1987 and the results of this study are as <br />tabulated below: <br />Year <br />No. Sales <br />Average Price <br />% Increase <br />1984 <br />16 <br />$101,309 <br />- <br />1985 <br />19 <br />105,226 <br />3.9% <br />1986 <br />19 <br />117,616 <br />11.8% <br />*1987 <br />9 <br />133,111 <br />13.2% <br />* First six months only <br />I have also examined the records for the Raleigh residential market <br />as a whole and the findings of this study are as tabulated below: <br />Year <br />No. Sales <br />Average Price <br />% Increase <br />1984 <br />N/A <br />$ 85,200 <br />- <br />1985 <br />N/A <br />93,600 <br />9.9% <br />1986 <br />N/A <br />100,700 <br />7.6% <br />*1987 <br />N/A <br />105,600 <br />4.9% <br />* First six months only <br />The preceding analysis reflects an increase in sales price of 31.4% <br />between 1984 and 1987 for the Oak Park Subdivision and the increase <br />o a -EJI <br />l a M W <br />��1 <br />