$2,730 Closing Credit*
$229,900
1,074 SqFt
3 Beds
•2 Full Baths
Nicholas S Yarrington, Angie Thomas, Listing Office: Grow Local Realty, LLC
Is Durham, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Durham has remained a Seller's Market.
Key Takeaway
Durham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Durham, NC
How much do homes in Durham, NC cost?
Median Sold Price
$424,671
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$14,968(+3.7%)
Key Takeaway
Homes in Durham have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Durham was $424,671 in November 2024, up 3.7% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $205K | -25.5% |
| 2 Bedrooms | $312.2K | $315K | +0.9% |
| 3 Bedrooms | $385.2K | $399.9K | +3.8% |
| 4 Bedrooms | $505K | $515.6K | +2.1% |
| 5+ Bedrooms | $695K | $687.4K | -1.1% |
Summary: Durham housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.5%, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 1.1%.
Median Sold Price Compared To Nearby Cities
| Carr Township | $477.5K | $525K | +9.9% |
| Triangle Township | $425.2K | $442.4K | +4.1% |
| Durham | $409.7K | $424.6K | +3.7% |
| Durham Township | $406.3K | $421K | +3.6% |
| Oak Grove Township | $381.2K | $385K | +1.0% |
Housing Supply in Durham, NC
How many homes are available in Durham, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,172 | 1,092 | -6.8% |
Summary: The Durham real estate market had 1,092 homes for sale in November 2024, a 6.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 34 | 31 | -8.8% |
| 2 Bedrooms | 171 | 178 | +4.1% |
| 3 Bedrooms | 604 | 544 | -9.9% |
| 4 Bedrooms | 274 | 250 | -8.8% |
| 5+ Bedrooms | 89 | 89 | 0.0% |
Summary: The Durham housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.8%, 2 bedroom homes increased by 4.1%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 255 | 247 | -3.1% |
Asking Price vs. Sold Price
126 Homes Were Sold
Under Asking
58 Homes Were Sold
At Asking
63 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Durham, you may be able to get a good deal. 51% of homes here sold below asking price last month.
Summary: A total of 247 homes were sold or pending in Durham in November 2024, down by 3.1% month-over-month. Of the 247 sold homes, 51% were sold under asking, 23% were sold at asking, and 26% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 82 Days | 30 Days | -62.7% |
Summary: Homes in Durham had an average of 30 days on market in Nov 2024, down by 62.7% compared to last year.
Breakdown of Home Sale Times
165 Homes Were Sold
Under 30 Days
62 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Durham are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 247 homes were sold in Durham; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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