How's the Market in Durham NC?
Durham Homes for Sale January 2013 Market Report
The January 2013 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 January 2013 versus January 2012 - 21.7 percent - according to the recently released Triangle MLS Report for January 2013.
How's the Market in Durham NC? 21.7% Increase in Closed Sales in Durham County
Durham County closed home sales are up 21.7 percent in January 2013 versus January 2012. This follows a 21.1% increase December 2012 vs. December 2011.
January 2012 - 161 Closed Sales in Durham County
January 2013 - 196 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 January 2012, Durham NC was considered a Buyers Market, with 7.6 months of supply. In January 2013, the market was balanced and heading towards a seller's market. This is the lowest months of supply in Durham seen since 2006!
January 2012 - 7.6 Months of Supply
January 2013 - 4.9 Months of Supply
20.1% DECREASE in Total Homes For Sale in Durham County
The total available inventory of homes for sale in the Durham area has decreased.
January 2012 - 1655 Homes for Sale in Durham County
January 2013 - 1322 Homes for Sale in Durham County
Percent of List Price Received:
January 2012 - 95.5% of list price received
January 2013 - 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.