Hayes Barton, an upscale neighborhood in Raleigh, North Carolina, is named after the English statesman and explorer Sir Walter Raleigh’s home in England.
The notable landscape architect Earle Sumner Draper designed Hayes Barton beginning in the early 20th century, and it remains a picturesque part of town characterized by its naturalistic feel that includes numerous parks and sprawling estates with an abundance of green spaces. The architecture is also a highlight and comprises homes that were constructed in the 1920s in a diversity of styles such as Colonial and Tudor Revival and Craftsman.
Though it started as a suburb, located roughly 2.5 miles outside of Raleigh’s center, “by the 1920s, the city would annex many of these neighborhoods, including Hayes Barton,” said Sheri Hagerty, an agent with the Sheri Hagerty Group with Hodge & Kittrell Sotheby’s International Realty in Raleigh.
Politicians, professionals and civic leaders lived in the neighborhood throughout the early 20th century, she said. “Developers appealed to them by building a trolley line amusement ride to reach the area,” she said. “Before long, governors, writers, sports figures and other elites were living here.”
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Boundaries
Hayes Barton is in a prime location in downtown Raleigh and borders St. Mary’s Street, Oberlin Road and Glenwood Avenue, according to Ginger Vereen Peters, a broker and the owner of the Raleigh real estate company Ginger & Co.
“All are very historic roads just like Hayes Barton itself,” Vereen Peters said. “The location is highly desirable; situated inside the Beltline, also known as I-440, this area of Raleigh is one of the most prestigious.”
Price Range
The neighborhood has seen a 152.9% increase in average sales price over the last 10 years, Hagerty said. “Prices will continue to rise as inside-the-beltline demand grows larger by the day,” she said.
Looking at a 10-year comparison, a home in Hayes Barton had an average sales price of $578,967 in 2013. Today, that number has jumped to $1.466 million. New-construction properties command well over $2 million, Hagerty said.
Gretchen Coley, the founder of the Coley Group at Compass and who is based in Raleigh, said that 11 homes have sold in Hayes Barton in the past year. The average square footage of these properties was 3,228, while the average price was $1.703 million.
An example of a home that Coley sold in the past year is a $2.6 million five-bedroom, four-and-a-half bath Georgian Revival property that’s built on a 0.44-acre lot. It spans more than 4,600 square feet and features high ceilings and a fenced-in backyard.
Speaking to a property that she’s currently listing, there is a 3,000-square-foot home located near a park that has four bedrooms, three bathrooms and expansive gardens. The asking price is $1.185 million.
Vereen Peters said that it is possible to find a home for under $1 million, but it will be smaller than many in the neighborhood at between 2,000 and 2,500 square feet of interior space.
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Housing Stock
Vereen Peters said that the housing stock in Hayes Barton is mostly single-family homes. “A home that was built in the early 1920s and listed on the Historic Registry can be sitting right next to an expansive, new construction contemporary home,” she said. “There is such a diversity of styles.”
She noted Fairview Downs, a townhouse development that has yet to start construction. It’s slated to offer 17 units that span between 3,000 and 4,000 square feet and cost an average of $2 million.
“This product offers a very high level of fit and finish and will allow buyers to come in early in the process and substantially customize their home,” Vereen Peters said.
The upscale assisted-living facility Hayes Barton Place is a rental development that’s also bringing visibility to the neighborhood. Scheduled to open in late 2024, it’s set on more than 7 acres of land and offers amenities like a pickleball court, putting green, tavern, library, spa and golf simulator. Prices have yet to be released.
This 5,806-square-foot, luxury residence in Hayes Barton neighborhood is listed for $2.39 million.
York Simpson Underwood Realty / BerkshireHathaway HomeServicesWhat Makes It Unique
Living in Hayes Barton means more than just calling the neighborhood home, Vereen Peters said. “This is a neighborhood with a distinct lifestyle that integrates a rich history with trendiness in the way of cool shops, restaurants and stores,” she said. It’s located only a few minutes from downtown Raleigh, and still offers a small and warm community feel with its walkable sidewalks, front porches and beautiful tree-lined streets, she said.
Luxury Amenities
Hayes Barton offers all the amenities that are in line with upscale living, Hagerty said.
The Village District, for one, offers high-end clothing boutiques and antique stores while the pedestrian-friendly Five Points area features the Rialto, a movie theater from the 1930s that’s a community landmark, and more stores.
Coley said that other highlights in Five Points include a popular craft beer bar, the Crafty Beer Shop; a longstanding classic American restaurant called Hayes Barton Café and Dessertery; and the nearly century-old Hayes Barton Pharmacy.
The high-quality schools are also a strong point, Vereen Peters said, with numerous options in the neighborhood. They include Needham Broughton High School, LeRoy Martin Magnet Middle School and Lacey Elementary School.
Who Lives There
Hayes Barton is home to a wide variety of residents, according to the agents. They include families who have lived in the neighborhood for generations, younger families and couples of all ages. “It’s filled with people from all walks of life but trends affluent,” Coley said.
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Outlook
Given the continued demand for homes in Hayes Barton and the rising prices of properties over the last decade, Hagerty and Vereen Peters projected that buying a property will only become more expensive in the coming years.
“Many homes are sold off the market, and listed properties aren’t on the market for long,” said Vereen Peters. “It continues to be a challenging neighborhood for buyers to get into and will be even more so going forward.”
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