Raleigh is the capital of the state of North Carolina and the seat of Wake County in the United States. Raleigh is the second-largest city in the state of North Carolina, after Charlotte. Raleigh is known as the "City of Oaks" for its many oak trees, which line the streets in the heart of the city. The city covers a land area of 142.8 square miles (370 km2). The U.S. Census Bureau estimated the city's population as 451,066 as of July 1, 2015. It is one of the fastest-growing cities in the country. The city of Raleigh is named after Sir Walter Raleigh, who established the lost Roanoke Colony in present-day Dare County.
Raleigh is home to North Carolina State University (NCSU) and is part of the Research Triangle Park (RTP) area, together with Durham (home of Duke University) and Chapel Hill (home of the University of North Carolina at Chapel Hill). The "Triangle" nickname originated after the 1959 creation of the Research Triangle Park, located in Durham and Wake counties, among the three cities and their universities. The Research Triangle region encompasses the U.S. Census Bureau's Raleigh-Durham-Chapel Hill Combined Statistical Area (CSA), which had an estimated population of 2,037,430 in 2013. The Raleigh Metropolitan Statistical Area (MSA) had an estimated population of 1,214,516 in 2013.
Most of Raleigh is located within Wake County, with a very small portion extending into Durham County. The towns of Cary, Morrisville, Garner, Clayton, Wake Forest, Apex, Holly Springs, Fuquay-Varina, Knightdale, Wendell, Zebulon, and Rolesville are some of Raleigh's primary nearby suburbs and satellite towns.
Raleigh is an early example in the United States (US) of a planned city. Following the American Revolutionary War when the US gained independence, this was chosen as the site of the state capital in 1788 and incorporated in 1792 as such. The city was originally laid out in a grid pattern with the North Carolina State Capitol in Union Square at the center. During the United States Civil War, the city was spared from any significant battle. It fell to the Union in the closing days of the war, and struggled with the economic hardships in the postwar period related to the reconstitution of labor markets, over-reliance on agriculture, and the social unrest of the Reconstruction Era.
Following the establishment of the Research Triangle Park (RTP) in 1959, several tens of thousands of jobs were created in the fields of science and technology. The region and city have attracted a large influx of population, making it one of the fastest-growing communities in the United States by the early 21st century. It is a model for other nations, states and small governments around the world.
Raleigh is home to numerous cultural, educational, and historic sites. The Duke Energy Center for the Performing Arts features three theater venues and serves as the home for the North Carolina Symphony and the Carolina Ballet. Coastal Credit Union Music Park at Walnut Creek is a large music amphitheater. Museums include the state museums of art, history and natural sciences, two in downtown. Major universities and colleges, in addition to those above, include Shaw University, the first historically black university in the American South. In the 1960s, the Student Nonviolent Coordinating Committee, an important civil rights organization, was founded here. One U.S. president, Andrew Johnson, was born in Raleigh.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Raleigh, North Carolina. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!
The national average total real estate commission in 2015 was 5.26% *
In Raleigh, North Carolina, you will find the following real estate commissions charged*:
Typical Asking Commission: 6.0%
Competitive Commission: 5.0%-5.5%%
Very Competitive Commission: 4.5%-4.99%
The median existing single-family home price in the South rose 6.7%, to $229,400, in the second quarter of 2017 compared to the the second quarter of 2016. Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:
In the State of North Carolina, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
|Myrtle Beach-Conway-North Myrtle Beach||$206,300||5.60%|
|Virginia Beach-Norfolk-Newport News||$239,900||7.60%|
Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).
In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent. Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”. This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client. This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).
When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.
At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in North Carolina.
Sellers who are also buying a home in the same local market have a volume discount advantage. ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home. Be sure to check the box that you are also buying a home locally to receive these better rates.
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According to the 2010 Census, the racial composition of the city was:
In addition, 11.4% of city residents were Hispanic or Latino Americans, of any race (5.9% Mexican, 1.1% Puerto Rican, 0.9% Salvadoran, 0.6% Dominican, 0.6% Honduran, 0.3% Colombian, 0.3% Cuban, 0.2% Guatemalan, 0.2% Spanish, 0.2% Peruvian, 0.1% Venezuelan, 0.1% Ecuadorian, 0.1% Argentine, 0.1% Panamanian).
As of the 2000 United States census, there were 276,093 persons (July 2008 estimate was 380,173) and 61,371 families residing in Raleigh. The population density was 2,409.2 people per square mile (930.2/km²). There were 120,699 housing units at an average density of 1,053.2 per square mile (406.7/km²). The racial composition of the city was: 63.31% White, 27.80% Black or African American, 7.01% Hispanic or Latino American, 3.38% Asian American, 0.36% Native American, 0.04% Native Hawaiian or Other Pacific Islander, 3.24% some other race, and 1.88% two or more races.
There were 112,608 households in the city in 2000, of which 26.5% included children below the age of 18, 39.5% were composed of married couples living together, 11.4% reported a female householder with no husband present, and 45.5% classified themselves as nonfamily. Unmarried partners were present in 2.2% of households. In addition, 33.1% of all households were composed of individuals living alone, of which 6.2% was someone 65 years of age or older. The average household size in Raleigh was 2.30 persons, and the average family size was 2.97 persons.
Raleigh's population in 2000 was evenly distributed with 20.9% below the age of 18, 15.9% aged 18 to 24, 36.6% from 25 to 44, and 18.4% from 45 to 64. An estimated 8.3% of the population was 65 years of age or older, and the median age was 31 years. For every 100 females, there were 98.0 males; for every 100 females aged 18 or older, there were 96.6 males aged 18 or older.
The median household income in the city was $46,612 in 2000, and the median family income was $60,003. Males earned a median income of $39,248, versus $30,656 for females. The median per capita income for the city was $25,113, and an estimated 11.5% of the population and 7.1% of families were living below the poverty line. Of the total population, 18.8% of those below the age of 18, and 9.3% of those 65 and older, were living below the poverty line.
Raleigh's industrial base includes banking/financial services; electrical, medical, electronic and telecommunications equipment; clothing and apparel; food processing; paper products; and pharmaceuticals. Raleigh is part of North Carolina's Research Triangle, one of the country's largest and most successful research parks, and a major center in the United States for high-tech and biotech research, as well as advanced textile development. The city is a major retail shipping point for eastern North Carolina and a wholesale distributing point for the grocery industry.
Raleigh was number one on the 2015 Forbes list of the best place for businesses and careers. Companies based in Raleigh include BB&T Insurance Services, Capitol Broadcasting Company, Carquest, First Citizens BancShares, Golden Corral, Martin Marietta Materials, Red Hat, Waste Industries, and Lulu.
In April 2014 Steven P. Rosenthal of Northland Investment Corp. referred to Raleigh as "a real concentration of brain power. You have a lot of smart people living in the same place. That will drive the economy."
According to Raleigh's 2011 Comprehensive Annual Financial Report, the top employers in the city are:
|#||Employer||No. of employees|
|1||State of North Carolina||24,739|
|2||Wake County Public School System||17,572|
|4||North Carolina State University||7,730|
|8||City of Raleigh||3,811|
|10||First Citizens BancShares||1,703|
|11||Duke Raleigh Hospital||1,700|