‘Low-maintenance living’: New Durham community targets 55-plus homebuyers
A new subdivision targeting 55-plus homebuyers is under construction in Durham.
Epcon Communities recently broke ground on The Courtyards on Farrington at 5113 Farrington Rd. in Durham County. It’s on the Chapel Hill-Durham border, about a 20-minute drive southwest from downtown.
The Ohio-based builder, founded in 1986, specializes in developing “low-maintenance,” amenity-rich neighborhoods (landscaping services included). The product is “popular with 55-plus buyers,” it says on its website.
Epcon is now selling 64 ranch-style homes with two-, three-, and four-bedroom plans, ranging from 1,500 to 3,000 square feet. Features include first-floor owner suites, open floor plans and private courtyards alongside other amenities like a clubhouse, pool, walking trails and fitness center.
Prices start at the mid $500,000s and go up to the mid $800,000s.
“The Triangle is a fast-growing market,” said Tom Sewitsky, regional president for Epcon Communities in Raleigh, in a release. “The Courtyards on Farrington offers great amenities and floor plans in an ideal location.”
Homes are selling fast, the company said. “Over 60% of the homes are already claimed,” according to its website.
In recent years, Epson has built or planned eight communities in the Triangle, including three in Chapel Hill, two in Durham and three in Cary.
It recently opened The Courtyards at Lochmere in Cary. The 73-home community is also priced from the upper $500,000s.
Market snapshot
Despite the Federal Reserve’s recent rate cut, mortgage rates remain stubbornly high at 6.79%. The Triangle’s low inventory means sellers continue to have the edge.
Durham’s real estate remains “very competitive,” according to the latest Redfin data.
In ZIP code 27514, which includes The Courtyards on Farrington, home sales have dropped by 30.7%. But prices continue to rise.
The median sale price for a single-family home was $665,500 in September, up 12.8% since last year, Redfin found.
Homes receive two offers on average and sell in around 27 days, Redfin found.
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