Townhouse Sales Surge in the Triangle: A Rising Trend in the Housing Market

The real estate market in the Triangle area of North Carolina has seen a notable increase in the percentage of townhouses sold over the past decade. Data from 2015 to 2024 indicates a steady rise in townhouse sales as a percentage of total home sales, with the percentage increasing from 16.22% in 2015 to 19.98% in 2024.

Steady Growth Over the Years

Over the past decade, townhouse sales in the Triangle have seen consistent growth. From 2015 to 2019, the percentage remained relatively stable, fluctuating between 15.87% and 16.51%. However, from 2020 onward, townhouses have gained greater traction, with percentages rising each year. The sharpest increases occurred in the past four years, with townhouse sales growing from 16.26% in 2021 to 19.98% in 2024.

Why Are More Buyers Choosing Townhouses?

Several factors contribute to this surge in townhome sales in the Triangle:

1. Affordability Amid Rising Home Prices
   As single-family home prices continue to rise, townhouses provide an attractive, more affordable alternative for buyers. They offer many of the benefits of homeownership—private spaces, outdoor areas, pet friendly, easy access to garage or parking—without the high costs associated with standalone houses.

2. Growing Urbanization and Population Growth
   The Triangle is experiencing rapid population growth, fueled by tech sector expansion, major corporate relocations, and an influx of new residents. With limited land for new single-family developments, townhouses offer a space-efficient housing solution that meets urban demands.

3. Desirability for Young Professionals and First-Time Buyers
   Millennials and young professionals, a significant portion of homebuyers, are increasingly favoring townhouses. These homes strike a balance between affordability, low maintenance, and proximity to city centers, making them an ideal choice for those looking to enter the housing market.

4. Low-Maintenance Living for Downsizing Boomers
   Families looking to downsize also contribute to the rising demand for townhouses. Many prefer townhomes over condominiums because they offer private yards and more spacious living areas while still requiring less maintenance than single-family homes.

5. Shift Toward Walkable Communities
   The demand for walkable, mixed-use communities has grown in recent years. Many new townhome developments in the Triangle offer convenient access to shopping, dining, and public transit, making them an appealing choice for modern homebuyers.

The above data reveals significant variation in townhouse sales across different cities in the Triangle area. Apex (32.89%) has the highest percentage of townhouses, indicating strong demand for this housing type, likely due to rapid growth and urban development. Raleigh (26.40%), Wake Forest (26.46%), and Durham (25.62%) also show high townhouse sales percentages, reflecting the appeal of townhomes in densely populated, high-demand areas.

Looking closer at Apex, we see the growth again came from the last 3 years, consistent with the rest of the region.

As more buyers prioritize affordability, convenience, and low-maintenance living, townhouses will continue to play a key role in shaping the future of the Triangle’s housing market. Whether you're a first-time buyer, a young professional, or a downsizing retiree, townhouses in the Triangle offer a practical and desirable homeownership option in one of North Carolina’s fastest-growing regions.

_{^{Data Analysis by Sylvain Dufour - Data engineering and visualization by Vanessa Peeters}}