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l y~o <br />Chapter S; Housing Element <br />Median home prices in Orange County varied significantly by <br />market area. Over the past 30 years, Chapel Hill has consistently <br />had the highest median home prices in Orange County ($229,100 <br />in 2000). Carrboro's median sales price was approximately <br />$50,000 less than Chapel Hill's ($172,800 in 2000) and <br />Hillsborough's median housing prices was $100,000 less than <br />Chapel Hill's. In all markets, median sales prices have continued <br />to rise over time, with a significant increase in value over the last <br />decade. See Figure 5-5. <br />FIGURE 5-5: MEDIAN HOME VALUES IN <br />ORANGE COUNTY (1970-2000) <br />rzso.ooo - _ _ _ - -- - <br />5229,100 <br />^~s7o ®lsao alsso ezooo <br />Szoa,ooa <br />E172,800 t179~000 <br />350,000 <br />5100,000 <br />550,000 <br />5117,100 <br />12,30 •iero s,o+~~ <br />w~ <br />~ _ - . -. <br />Carrpo~ Chnpd FiEI.. . ~ Hltlsboraigh .. Tote) OronOe Co. <br />Source: US Census Bureau, 2000. <br />Between 2000 and 2005 housing prices for new and re-sale <br />homes rose significantly. The percent of homes available for sale <br />at $200,000 and below dropped during this period, and the <br />percent of homes available for sale at $250,000 and greater <br />increased by 32%. The average price for all homes in Orange <br />County increased by 36% over this five-year period. See Figure <br />5-6. <br />cOrawu~e~Couvity Cavn~rehevibiw~~lavi, WORKING DRAFT 3-5-08 55 <br />