Is Durham, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Durham is a seller's market

Buyer's
Market

Difference Since October 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

$424,728

$233/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$17,304(+4.2%)

Key Takeaway

Homes in Durham have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in Durham was $424,728 in October 2024, up 4.2% from last year, and the median price per square foot was $233.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $260K$207.2K
-20.3%
2 $314.9K$315K
0.0%
3 $385K$399.7K
+3.8%
4 $505.1K$514.3K
+1.8%
5+ $676K$695K
+2.8%

Summary: Durham housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.3%, 2 bedroom homes did not change, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 2.8%.

Median Sold Price Compared To Nearby Cities

Carr Township
+10.5%
Triangle Township
+5.1%
Durham
+4.2%
Durham Township
+4.1%
Oak Grove Township
+1.1%

Housing Supply in Durham, NC

How many homes are available in Durham, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1,1501,182+2.8%

Summary: The Durham real estate market had 1,182 homes for sale in October 2024, a 2.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 3333
0.0%
2 158169
+7.0%
3 596614
+3.0%
4 280276
-1.4%
5+ 8390
+8.4%

Summary: The Durham housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 8.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
272236-13.2%

Asking Price vs. Sold Price

125 Homes Were Sold
Under Asking

61 Homes Were Sold
At Asking

50 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Durham, you may be able to get a good deal. 53% of homes here sold below asking price last month.

Summary: A total of 236 homes were sold or pending in Durham in October 2024, down by 13.2% month-over-month. Of the 236 sold homes, 53% were sold under asking, 26% were sold at asking, and 21% 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

Oct 2023Oct 2024CHANGE
82 Days35 Days-56.7%

Summary: Homes in Durham had an average of 35 days on market in Oct 2024, down by 56.7% compared to last year.

Breakdown of Home Sale Times

155 Homes Were Sold
Under 30 Days

58 Homes Were Sold
In 30 - 90 Days

23 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Durham are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 236 homes were sold in Durham; 66% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Durham, NC

Nearby Markets to Durham, NC

What housing markets are near Durham, NC?