February 2012 Durham County Real Estate Report
Durham Home Sales Up Again
Considering buying a new home in central North Carolina, in the Durham County area? You're not the only one. There was a huge increase in closings in February 2012 versus February 2011, according to the recently released Triangle MLS Report for February 2012.
This is a continuation of a trend in home sale increases in Durham County, mirroring Wake County's market growth.
February 2011 - 143 Closed Sales in Durham County
February 2012 - 206 Closed Sales in Durham County
44.1% Increase in Closed Sales in Durham County
In addition, new listings have reduced as well, which means there are fewer choices to select from.
February 2011 - 518 New Listings in Durham County
February 2012 - 477 New Listings in Durham County
7.9% DECREASE in New Listings Available in Durham County
The total available inventory of homes for sale in the Raleigh area, specifically in Durham County, has decreased from 2,237 last year to 1,579 this year.
29.4% DECREASE in Total Homes For Sale in Durham County
Durham County is currently at a 6.9 months supply of inventory - down from a 9.2 months supply in 2011. 6 months of supply represents neither a buyers or a sellers market. Much lower than a six month supply, and Durham County will move to a "Seller's Market".
Considering buying a new home in Durham County, NC? Durham, NC New Home Market Resources: