Rumor has it that Apex is growing! Ok, so it isn’t as much a rumor as it is a well-known fact. The once quiet little town of ours is growing daily, and as of 2017 the population of Apex was 50,451. Some love the fact that Apex is expanding, and some are less than thrilled. Depending on who you talk to, Apex has either lost its small-town charm, or has grown in popularity because it has been able to maintain that charm.
So, who is coming and who is going? Laura Szemereta, a broker and productivity coach with KW Legacy in downtown Apex, says that contrary to popular belief, most of the residents moving into new homes in this area are families that live in the area and are simply changing their address. “There is a large number of people moving to the Triangle Area from places all over the country, but the Town of Apex Utilities shows that a good majority of new houses in Apex are already existing residents,” Laura said. According to the Town of Apex Utilities, 45% of the connections for utilities are requested by those that already have established accounts. Of those moving to the area, most are hailing from the Northeast and California, but by the looks of it, Apex has grown in popularity with folks from all over the country. What is drawing everyone to our little corner of the world? Laura has found that the majority are moving “Mostly because of jobs, however, I have recently worked with quite a few sets of grandparents moving to be near their kids/grandkids.” As of 2017, the median age of Apex residents was 37.2, meaning the number of young families is growing, and the grandparents are following.
Once the decision has been made to move to Apex, now the choice is whether to get a single-family home, townhome, condo, or apartment. According to Laura, most are looking for single-family homes, but there is plenty of interest in everything else. “First-time homebuyers or single parents still look for townhomes, as well as investors. The rental market is still strong because of people moving from out of state and wanting to live here for a while to get to know the area before committing to a purchase,” she said.
Despite the fact that many long-time Apex residents are frustrated with the rapid growth of their beloved small town, financially they may be reaping the rewards of staying put. “They will reap the benefits of their increased home values once their children are gone. Many people that have been homeowners for a while here in Apex are seeing such an increase in value that they are able to ‘move up’ to a larger/newer home.” Not only are homeowners able to sell their home and either downsize or upgrade, in many cases there are multiple offers on homes, especially those that are under $400,000. A benefit for homeowners, but a challenge for real estate agents.
According to Zillow, the median value of homes in Apex is $350,100. That is an increase of 3.8% over the last year, with predictions to increase another 2.0% over the next year. The median price of homes currently listed, according to Zillow is $416,500. “The greatest challenge that I find in Apex is still the lack of inventory at an affordable price point. When a home under $400K comes on the market, that is in good condition, many times there are multiple offers. It is difficult for first-time home buyers that may not have 20% down to win out,” Laura said. She also noted that “We are also still seeing some appraisal issues because people are bidding so high in order to win in multiple offers that they go above appraised value.”
Not surprisingly, the rapid growth in Apex’s population has had a ripple effect in everything from traffic and home prices to the elementary school our children attend. Both Olive Chapel Elementary School and Scotts Ridge Elementary School in Apex have been capped. This means that if a new family moves into the area and they are assigned to one of these two schools, chances are they won’t be able to attend the school closest to them, at least not this year. There are plans in the works to build another elementary school and middle school in the Apex/Holly Springs area, but until then, neighbors may not be attending the same school.
Whether you love the idea of Apex growing by leaps and bounds, or the thought makes you long for the days of open fields and two-lane roads, Apex is still one of the most charming, sought after areas in the triangle and the state. Neighbors still look out for one another and on any given weekend in the summer you can find families gathering in cul-de-sacs or community pools. In the winter you can still hear the squeals of children on the occasional snow day as they sled with their friends down the neighborhood hill. Apex is still our hometown, it is still the place our children will grow up, and will be dear to us no matter how big we get. So, to all of our new neighbors, welcome home!
