The Durham real estate market is still going strong but, like the rest of the country, our market is experiencing a great deal of change. The table below compares Durham homes for sale and the associated statistics from 2008 to 2009.
- From 2008 to 2008, Durham homes for sale, otherwise referred to as new listings, decreased by 21%.
- Closed sales in the Durham real estate market are off 28.6% from 2008.
- While sales are down, average prices are also down 1.2%.
- On average, sellers are getting slightly less than what they got last year. In other words, the list-to-sales price ratio is down to 95.5% from 96.8% in 2008.
- Average days on marrket are stretching out. We are now seeing it take approximately 94 days to sell a home in Durham compared to 87 days last year.
| Durham |
2008 |
2009 |
Change |
| New Listings |
3,346 |
3,346 |
-21% |
| Closed Sales |
1,487 |
1,061 |
-28.6% |
| Average Sales Price |
$174,113 |
$172,000 |
-1.2% |
| List/Sales Ratio |
96.8% |
95.5% |
-1.3% |
| Avg Days on Market |
87 |
94 |
+8.2% |
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Data Source: Triangle MLS
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