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Durham Homes for Sale | Sales Up Double Digits - Again

Posted by Penny Hull on Wed, Feb 20, 2013 @ 09:02 AM

How's the Market in Durham NC?

Durham Homes for Sale January 2013 Market Report

Durham Homes For Sale - Hows the MarketThe 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

 

how's the market in durham nc

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.

Get the Latest Durham New Home Market Reports Here

See All Area Market Reports Here

Tags: durham new homes, durham market reports, durham new home builders, hows the market in durham nc

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

Tags: durham new homes, durham market reports, durham new home builders, hows the market in durham nc

Durham County 2011 Property Tax Rates | New Homes Durham County NC

Posted by Penny Hull on Tue, Dec 06, 2011 @ 13:12 PM

Click here for 2017 Property Tax Rates in Durham County NC

Click Here for Updated Property Tax Rates in NC

Durham County NC 2011 Property Tax Guide

How much are property taxes for Durham County NC new homes? 

2011 Durham County Property Taxes | How Much Are Property Taxes in Durham County NC?

 

Whether you're considering relocating from the other side of the country or the other side of the Triangle, you've probably wondered what the yearly property taxes might be for your new home.

Where is Durham County located?  Durham County sits between Chatham County, Orange County, Person County, Granville County, and Wake County.

Durham serves as one of the corners of the Research Triangle Park, along with Chapel Hill and Raleigh.

When were Durham County NC property values last adjusted (assessed)?

All North Carolina counties are required to conduct a revaluation at least once every eight years. Durham County was reassessed on January 1, 2008, and the new assessed values went into affect in Summer 2008.

The chart below shows the 2011 Durham County property tax rates. If you are relocating to a home inside a town or fire district, the tax rate will generally be higher.  If your new home will be outside of town boundaries, the tax rate can be low.

The county rate gets combined with either the fire district rate or the town rate, depending on where the home for sale is located. 

2011 Durham County Property Taxes | How Much Are Property Taxes in Durham County NC?

 

  1. The Durham County property tax chart is not as confusing as it looks.  The tax rates are always based on the assessed value of the home, not the asking price, so you'll want to look up the assessed value, or ask your agent for it. 

    1. Take the assessed value of the property.

  2. 2. Divide by 100.

  3. 3. Multiply by the combined 2011 tax rate.

  4. 4. This will give you the yearly tax amount, per 2011 fiscal year rates.

 

 

For example, Chapel Hill has a town rate of 0.494, and the Durham County property tax rate is 0.7459. 

Add the two together - the total tax rate for Chapel Hill, NC is 1.2399.

 

And just to give you an idea, here's a table of sample yearly tax payments for different sample assessed home values.

  2011 Durham County Property Taxes | How Much Are Property Taxes in Durham County NC?

 

 

 

 

 

 

 

 

 

 

 

 

 

This table gives sample property tax bills for all the cities and towns in Durham County, NC: Durham, Chapel Hill, Raleigh, Morrisville, Bahama, and more.  Your tax bill can be lower if your home or property is not actually within a municipality, or town. 

 

You can also visit the Durham County Property Tax page to get the most up-to-date tax tables or tax information for the City of Durham

As you can see, a City of Durham location will be the most expensive property tax location to live in Durham County, following closely by the City of Chapel Hill.

How Do I Find Out the Assessed Value of My Durham County Home?

If there's a particular home that you're considering, you can go directly to the Durham County Tax Administration Records site, type in the address, and see the assessed value of the property.  

What if the Assessed Value is Different From the Sales Price?

If there is a discrepancy between the assessed value and the asking price of the home or lot, don't be afraid to ask your real estate agent to pull comps for you.  Assessed values are not always aligned well with market values, as assessments are often made several years apart. 

 

Want to Compare Property Taxe Rates?

Compare property tax rates in Durham County to other counties in the area here:

Alamance County Property Tax Rates 2011

Cumberland County NC Property Tax Rates 2011NC Property Tax Rates | How Much Are Property Taxes in North Carolina?

Chatham County NC Property Tax Rates 2011

Durham County NC Property Tax Rates 2011

Franklin County NC Property Tax Rates 2011

Granville County NC Property Tax Rates 2011

Johnston County NC Property Tax Rates 2011

Harnett County NC Property Tax Rates 2011

Raleigh Property Tax Rates 2011

Wake County NC Property Tax Rates 2011

 

Tags: new home builders in nc, how much are property taxes, property tax rates, durham custom home builders, new homes in raleigh nc, durham new homes