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 January 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

$410,418

$228/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$510(+0.1%)

Key Takeaway

The sold price of homes in Durham has remained the same since last year.

Summary: The median home sold price in Durham was $410,418 in January 2024, up 0.1% from last year, and the median price per square foot was $228.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $215K$275K
+27.9%
2 $304.5K$314.9K
+3.4%
3 $391.9K$389.1K
-0.7%
4 $510.2K$516.9K
+1.3%
5+ $685K$687.2K
0.3%

Summary: Durham housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.9%, 2 bedroom homes increased by 3.4%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 0.3%.

Median Sold Price Compared To Nearby Cities

Carr Township
+1.0%
Triangle Township
+0.8%
Durham Township
0.2%
Durham
0.1%
Oak Grove Township
-3.3%

Housing Supply in Durham, NC

How many homes are available in Durham, NC?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
835866+3.7%

Summary: The Durham real estate market had 866 homes for sale in January 2024, a 3.7% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 1312
-7.7%
2 122139
+13.9%
3 443462
+4.3%
4 192195
+1.6%
5+ 6558
-10.8%

Summary: The Durham housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 10.8%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
190156-17.9%

Asking Price vs. Sold Price

87 Homes Were Sold
Under Asking

34 Homes Were Sold
At Asking

35 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. 55.8% of homes here sold below asking price last month.

Summary: A total of 156 homes were sold or pending in Durham in January 2024, down by 17.9% month-over-month. Of the 156 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% 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

Jan 2023Jan 2024CHANGE
99 Days85 Days-14.1%

Summary: Homes in Durham had an average of 85 days on market in Jan 2024, down by 14.1% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

90 Homes Were Sold
In 30 - 90 Days

55 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Durham has remained consistent over time.

Summary: During January 2024, 156 homes were sold in Durham; 7% of homes were sold within 30 days, 58% of homes were sold within 30 to 90 days, and 35% 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 26 Days Ago

Newest Listings in Durham, NC

Nearby Markets to Durham, NC

What housing markets are near Durham, NC?