Jul 03, 2015
It’s such a great time to be a home buyer on the Durham, NC real estate market, according to the latest market trends.
After all, although the average price per square foot for Durham homes has increased, the median sales price as well as the total number of home sales has decreased.
This means that interested home buyers have a great opportunity to get a fantastic deal on a home for sale in the community. Interested in learning more? Continue reading!
What Every Home Buyer Should Know About Durham Home Sales
Here’s an overview of the current state of the market, based on the most recent market data:
- Currently there are 1,042 homes for sale on the market, including 272 in some stage of the foreclosure process.
- Between March and June, the median sales price for Durham homes was $180,000 based on 136 home sales.
- Compared to a year ago, the median home sales price decreased 5.3 percent, or $10,000.
- And the number of home sales decreased 86.8 percent.
- Broken down further, the median sales price for a 2-bedroom Durham home was $134,000.
- The median sales price for a 3-bedroom home was $167,000.
- And the median sales price for a 4-bedroom home was $237,000.
- During the week ending on June 17, the average listing price for homes was $273,891, up 1 percent from the week before.
- During that previous week, the averagely listing price was $271,000.
- More specifically, the average listing price for a 1-bedroom home was $118,581.
- The average listing price for a 2-bedroom home was $129,471.
- The average listing price for a 3-bedroom home was $214,698.
- And the average listing price for a 4-bedroom home was $373,054.
- Popular neighborhoods in Durham include Treyburn and Northeast, with average listing prices of $482,184 and $119,187, respectively.
How Can We Help With Your Next Durham Home Purchase?
We hope you found the above information insightful as a prospective home buyer. For more valuable information on recent market activity in Durham – or to inquire about available listings – make sure to connect with us at The Rachel Kendall Team.
We’d love to assist you by answering any questions you might have as well as providing you with valuable resources.
Until next time,