How's the Market in Durham NC?
Durham Homes for Sale November 2012 Market Report
The November 2012 Durham County report shows continued housing market strength - with increasing closed sales and reduced inventory of homes for sale.
There was a huge increase in closings in November 2012 versus November 2011 - 25.4 percent - according to the recently released Triangle MLS Report for November 2012.
How's the Market in Durham NC? 25.4% Increase in Closed Sales in Durham County
Durham County closed home sales are up 25.4 percent in November 2011 versus November 2012.
November 2011 - 189 Closed Sales in Durham County
November 2012 - 237 Closed Sales in Durham County
Months of Supply Dramatically Reduced
The months of supply of homes available in Durham NC has reduced significantly. A 6 month supply is considered a neutral market - neither buyers nor sellers have a strong advantage. In November 2011, Durham NC was considered a Buyers Market, with 8.2 months of supply. In November 2012, the market was balanced and heading towards a seller's market. This is the lowest months of supply in Durham seen since 2006!
November 2011 - 8.2 Months of Supply
November 2012 - 5 Months of Supply
26.7% DECREASE in Total Homes For Sale in Durham County
The total available inventory of homes for sale in the Durham area has decreased.
November 2011 - 1869 Homes for Sale in Durham County
November 2012 - 1370 Homes for Sale in Durham County
Percent of List Price Received:
November 2011 - 95.4% of list price received
November 2012 - 96.5% of list price received