Is Durham County, 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 County has remained a Seller's Market.
Housing Prices in Durham County, NC
How much do homes in Durham County, NC cost?
Median Sold Price
$412,545
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Durham County was $412,545 in May 2024, up 2.6% 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 | $248.2K | $233K | -6.1% |
2 Bedrooms | $307K | $314.9K | +2.6% |
3 Bedrooms | $384.9K | $387.4K | +0.6% |
4 Bedrooms | $503.9K | $510K | +1.2% |
5+ Bedrooms | $677.5K | $676K | -0.2% |
Summary: Durham County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.1%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 0.2%.
Median Sold Price Compared To Nearby Counties
Orange County | $560.4K | $598.4K | +6.8% |
Person County | $284.9K | $300.1K | +5.4% |
Wake County | $460.4K | $477.7K | +3.8% |
Durham County | $402.2K | $412.5K | +2.6% |
Granville County | $317.2K | $315K | -0.7% |
Housing Supply in Durham County, NC
How many homes are available in Durham County, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,185 | 1,232 | +4.0% |
Summary: The Durham County real estate market had 1,232 homes for sale in May 2024, a 4.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 34 | 34 | 0.0% |
2 Bedrooms | 182 | 189 | +3.8% |
3 Bedrooms | 612 | 621 | +1.5% |
4 Bedrooms | 272 | 290 | +6.6% |
5+ Bedrooms | 85 | 98 | +15.3% |
Summary: The Durham County 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 3.8%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 15.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
358 | 342 | -4.5% |
Asking Price vs. Sold Price
123 Homes Were Sold
Under Asking
79 Homes Were Sold
At Asking
140 Homes Were Sold
Over Asking
Summary: A total of 342 homes were sold or pending in Durham County in May 2024, down by 4.5% month-over-month. Of the 342 sold homes, 36% were sold under asking, 23% were sold at asking, and 41% were sold over asking.
Days on Market for Durham County, NC
How long does it take to sell a home in Durham County, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
56 Days | 15 Days | -72.0% |
Summary: Homes in Durham County had an average of 15 days on market in May 2024, down by 72% compared to last year.
Breakdown of Home Sale Times
296 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During May 2024, 342 homes were sold in Durham County; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.