5200 Olive Road Raleigh, NC 27606
Listing Brokerage Name
Community - Raleigh
Sale Price as (%) of Asking Price
Average Sale Price
Average Days On Market
Data compiled from available Multiple Listing Service sources.
Raleigh is the capital of North Carolina, and is located in the Research Triangle area in the upper central part of the state. This bustling city has a myriad of attractions, including a renowned university, that contribute to its lively culture.
Due to the diverse landscape and large size of the city, there is a wide range of homes for sale in Raleigh. The city is surrounded by well-maintained, quiet neighborhoods, each of which offer a diverse selection of amenities and qualities. From the historic Oakwood neighborhood with restored Victorian homes to modern townhomes and condominiums in the heart of downtown, there is an option in Raleigh for just about every buyer. The cost of living in Raleigh, including real estate, is above state and national averages, making this a valuable area to invest in real estate.
Lifestyle and Attractions
As the capital of North Carolina, Raleigh is a lively city located in the upper central part of the state. Its central location means Raleigh is not far from both the mountains to the west and the beaches along the coast to the east. Raleigh is nicknamed “The City of Oaks” for its many oak trees lining the streets of the city and its surrounding neighborhoods.
The capital city has experienced an impressive growth in population, fueled primarily by Research Triangle Park located nearby. The population of Raleigh is currently just under 500,000, but is consistently rising as new businesses relocate to the city. Downtown Raleigh is a gleaming venue filled with places to work, live, and play, hosting plenty of shops, restaurants, bars, entertainment venues, and other attractions. Open for guided tours, the North Carolina State Capitol is a historic landmark serving as the main house of government for the state.
There are several prominent schools of higher education located in Raleigh, including North Carolina State University, Meredith College, Shaw University, Wake Technical Community College, Campbell Law School, and William Peace University, each of which contribute to the diverse, education-focused culture of the city. Raleigh hosts a number of annual events and festivals, including the North Carolina State Fair, Artsplosure, First Night Raleigh, the International Festival of Raleigh, the World Beer Festival and more.
Cultural and artistic venues in Raleigh include the Walnut Creek Amphitheatre, the North Carolina Museum of Art, the North Carolina Museum of History, the City of Raleigh Museum, Red Hat Amphitheater, and many more. In fact, the city is nicknamed the “Smithsonian of the South” as Raleigh has 20 free museums of the highest caliber. Additionally, Raleigh is home to the North Carolina Symphony, the Carolina Ballet and the North Carolina Opera. The National Hockey League franchise team, the Carolina Hurricanes, play in the spacious PNC Arena in Raleigh. Residents of Raleigh attend North Carolina State University sports games and other campus events.
William B. Umstead State Park has more than 5,000 acres of trees, streams, trails and plenty of green place to explore. Pullen Park is a 72-acre public park with a famous carousel, train and kiddie boats. There are plenty of places to go shopping in Raleigh, including Cameron Village Shopping Center, Crabtree Valley Mall, Triangle Town Center and North Hills. Major employers of Raleigh include the State of North Carolina, the Wake County Public School System, North Carolina State University, WakeMed, Rex Health and Red Hat.
Nearby Schools and Higher Education
Raleigh has 80 public schools in the Wake County Public School System. Additionally, there are 34 private schools located in Raleigh, providing a wide range of options for residents. Raleigh is one of the three corners of the Research Triangle, anchored by North Carolina State University. Other prominent institutions of higher learning in Raleigh include North Carolina State University, Meredith College, Shaw University, Wake Technical Community College, Campbell Law School, and William Peace University.
In 1771, Wake County was formed, marking the beginning of the city’s rich history. In 1788, Raleigh was chosen as the site of a new state capital, and it was officially established in 1792 as both the county seat and state capital. The city’s location was partially chosen for its proximity to Isaac Hunter’s Tavern, a popular watering hole amongst state legislators. No known city or town existed in this location beforehand. Raleigh is one of the few cities in the country that was specifically planned and built to serve as a state capital.
The city of Raleigh was named after Sir Walter Raleigh, a cohort of England’s Queen Elizabeth I. He was instrumental as a sponsor of the colonization of the New World, particularly North Carolina and Virginia.
Raleigh avoided significant destruction during the Civil War, but due to economic problems of the post-war period and Reconstruction, the city saw little growth over the following decades. The Civil Rights Act of 1965 enriched the city’s political participation, and voting by African-Americans increased significantly. In 1967, Clarence E. Lightner was elected to the city council and became Raleigh’s first African-American mayor in 1973. During the 1970s and 1980s, the “Beltline,” now known as I-440, was constructed around the city, which contributed to its transformation into an urban hub.
Approximate Distance to:
Durham: 24.5 Miles
Chapel Hill: 28.5 Miles
Metro System: Less Than 1 Mile
Raleigh-Durham International Airport: 13 Miles
WakeMed Raleigh Hospital: 3.5 Miles
Duke Raleigh Hospital: 4 Miles
Rex Hospital: 6 Miles
I-40: 3 Miles
I-440: 4 Miles
US-64: 4.5 Miles
I-540: 8.5 Miles
Properties within a 1.89 mile radius and similar in price (± 10%)