Is Durham, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Durham has remained a Seller's Market.
Housing Prices in Durham, NC
How much do homes in Durham, NC cost?
Median Sold Price
$415,625
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Durham was $415,625 in May 2024, up 3% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $250.5K | $235K | -6.2% |
2 Bedrooms | $307.2K | $314.8K | +2.5% |
3 Bedrooms | $385.4K | $393K | +2.0% |
4 Bedrooms | $503.6K | $512.2K | +1.7% |
5+ Bedrooms | $675K | $685K | +1.5% |
Summary: Durham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.2%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Cities
Carr Township | $482K | $514K | +6.6% |
Triangle Township | $419.8K | $440K | +4.8% |
Durham | $403.5K | $415.6K | +3.0% |
Durham Township | $401.6K | $412.1K | +2.6% |
Oak Grove Township | $391.1K | $380.8K | -2.6% |
Housing Supply in Durham, NC
How many homes are available in Durham, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,180 | 1,234 | +4.6% |
Summary: The Durham real estate market had 1,234 homes for sale in May 2024, a 4.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 35 | 35 | 0.0% |
2 Bedrooms | 185 | 191 | +3.2% |
3 Bedrooms | 603 | 619 | +2.7% |
4 Bedrooms | 272 | 289 | +6.3% |
5+ Bedrooms | 85 | 100 | +17.6% |
Summary: The Durham housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
352 | 345 | -2.0% |
Asking Price vs. Sold Price
123 Homes Were Sold
Under Asking
81 Homes Were Sold
At Asking
141 Homes Were Sold
Over Asking
Summary: A total of 345 homes were sold or pending in Durham in May 2024, down by 2.0% month-over-month. Of the 345 sold homes, 36% were sold under asking, 23% were sold at asking, and 41% were sold over asking.
Days on Market for Durham, NC
How long does it take to sell a home in Durham, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
56 Days | 15 Days | -72.6% |
Summary: Homes in Durham had an average of 15 days on market in May 2024, down by 72.6% compared to last year.
Breakdown of Home Sale Times
297 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During May 2024, 345 homes were sold in Durham; 86% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.