Fast-growing Wake County town will soon have 600 new homes starting under $400,000
A developer is offering a sneak peek at its new subdivision in the fast-growing bedroom town of Knightdale.
This Sunday, Morrisville-based Garman Homes will host a grand opening for Allen Park at 906 Allen Park Drive, just east of Raleigh. It’s about 10 miles from downtown with access to I-540 and I-87.
The woman-owned firm is building a little over half of the 624 homes in the planned community developed by Natelli Communities. The other builder is Durham-based Ryan Homes.
Prospective homebuyers are invited to drop by for tours of model homes from 1 p.m. to 4 p.m. First move-ins are slated for January 2025.
“We can’t wait for buyers to step [inside],” said Alaina Money-Garman, CEO and founder of Garman Homes, adding Knightdale is “one of the best places to live” from an attainability standpoint. “That’s our whole business, staying at the midpoint or lower.”
Garman’s first phase includes 211 two-story townhouses and single-family houses. All feature three bedrooms and two and a half bathrooms with a mix of floor plans, ranging from 1,580 to 2,059 square feet.
Residents also have access to pickleball courts, a pool, clubhouse with a central pond, dog park, playground, fire pits, herb gardens, potting shed and play areas.
Prices start around $340,000 for townhouses and $380,000 for single-family homes, according to the website.
The firm plans to build an additional 130 homes during the second phase. The start date has not been announced.
Knightdale’s rise
Between the region’s long-running housing shortage and high home prices, buyers are increasingly seeking deals in smaller, outlying towns like Knightdale.
It’s also become more competitive. In October, Knightdale home prices were up 12.4% compared to last year, selling for a median price of $543,000, Redfin data shows.
Still, the market remains sluggish. As mortgage rates remain stubbornly high (around 6.6% for a 30-year, fixed-rate mortgage, according to Freddie Mac), it’s taking longer to shift stock.
On average, homes sold after 79 days on the market in October compared to 44 days last year.
As of 2023, Knightdale had a population of 20,273, according to the U.S. Census Bureau. That was up from 11,401 in 2010.
Florida-based Dream Finders Homes recently opened its new community, Knightdale Station, selling single-family homes starting at $375,420.
Atlas Stark plans over 50,000 square feet of commercial space for the Knightdale Station community, the Triangle Business Journal has reported.
For sales information, go to garmanhomes.com or call 984-217-3220.
This story was originally published December 12, 2024 at 3:14 PM with the headline "Fast-growing Wake County town will soon have 600 new homes starting under $400,000."
