Is Durham, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$414,939
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Durham have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Durham was $414,939 in April 2024, up 2.5% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $238.5K | $248K | +4.0% |
| 2 Bedrooms | $307.3K | $312.3K | +1.6% |
| 3 Bedrooms | $385.3K | $393.6K | +2.1% |
| 4 Bedrooms | $502.4K | $518.4K | +3.2% |
| 5+ Bedrooms | $682.5K | $692.5K | +1.5% |
Summary: Durham housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Cities
| Carr Township | $482K | $515K | +6.8% |
| Triangle Township | $420.5K | $438.6K | +4.3% |
| Durham | $404.9K | $414.9K | +2.5% |
| Durham Township | $404.4K | $411.2K | +1.7% |
| Oak Grove Township | $391.4K | $379.2K | -3.1% |
Housing Supply in Durham, NC
How many homes are available in Durham, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,084 | 1,079 | -0.5% |
Summary: The Durham real estate market had 1,079 homes for sale in April 2024, a 0.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 31 | 31 | 0.0% |
| 2 Bedrooms | 165 | 171 | +3.6% |
| 3 Bedrooms | 568 | 560 | -1.4% |
| 4 Bedrooms | 247 | 242 | -2.0% |
| 5+ Bedrooms | 73 | 75 | +2.7% |
Summary: The Durham housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.6%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 2.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 302 | 326 | +7.9% |
Asking Price vs. Sold Price
113 Homes Were Sold
Under Asking
78 Homes Were Sold
At Asking
135 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Durham, you could pay more than the asking price. 41.4% of homes here sold above asking price last month.
Summary: A total of 326 homes were sold or pending in Durham in April 2024, up by 7.9% month-over-month. Of the 326 sold homes, 35% were sold under asking, 24% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 78 Days | 33 Days | -57.6% |
Summary: Homes in Durham had an average of 33 days on market in Apr 2024, down by 57.6% compared to last year.
Breakdown of Home Sale Times
245 Homes Were Sold
Under 30 Days
50 Homes Were Sold
In 30 - 90 Days
31 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 April 2024, 326 homes were sold in Durham; 75% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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