Homes for Sale in Colony Lake (includes town homes and single family homes)
Colony Lake
Colony Lake is a popular neighborhood for UNC faculty and staff. It also has Chapel Hill schools with prices in the 130′s to under $300,000
There are around 200 homes and a couple of sections of town homes and duplexes. The last phases of the neighborhood were completed in around 1991.
The lots are small about 1/10th of an acre but since it’s an established neighborhood with mature landscaping it doesn’t have that cookie-cutter look that new neighborhoods tend to have. I worked with the developer doing sales and marketing there in the early 90’s, so it is a neighborhood I know very well.
Colony Lake has a lot of charm and a great quality of life with neighbors out walking, working in their yards and generally around even during weekdays.
The lake is more of a large pond but it’s pretty. Ducks and geese waddle around the lake and neighborhood.
It’s on the free Chapel Hill bus line and has Chapel Hill schools, it is in the Chapel Hill/Carrboro School District (the best SAT scores in the State).
The downsides of Colony Lake are that the homes are sort of dated and the quality of the finishes, especially in the pre 1990 homes were not that good to begin with. The floor plans are good considering the age and the newer homes (post 1992) have 9′ ft smooth ceilings . The pre 1992 homes have popcorn ceilings.
Generally the homes have laminate countertops, minimal hardwoods and vinyl bath and kitchen floors. These homes are prime candidates for updating! That’s an easy fix to be in a great neighborhood under $300,000.
The resale values in Colony Lake have been good and have been stable even in the slower market.
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