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How's the Market in Durham? Homes for Sale Up Sharply, Supply Down

Posted by Penny Hull on Fri, Dec 28, 2012 @ 13:12 PM

How's the Market in Durham NC?

Durham Homes for Sale November 2012 Market Report

Durham Homes For Sale - Hows the MarketThe 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

 

how's the market in durham nc

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

 As the supply of homes dwindles down, the percentage of list price received has increased.  This is an average of new homes in Durham, used homes in Durham, and townhouses/condos in Durham.

Get the Latest Durham New Home Market Reports Here

See All Area Market Reports Here

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