Is Durham County, 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 County has remained a Seller's Market.
Key Takeaway
Durham County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Durham County, NC
How much do homes in Durham County, NC cost?
Median Sold Price
$411,593
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Durham County have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Durham County was $411,593 in April 2024, up 1.7% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $232K | $243K | +4.7% |
| 2 Bedrooms | $307.6K | $314.6K | +2.3% |
| 3 Bedrooms | $384.9K | $388.8K | +1.0% |
| 4 Bedrooms | $502.8K | $514.7K | +2.4% |
| 5+ Bedrooms | $685K | $687.2K | 0.3% |
Summary: Durham County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Counties
| Orange County | $560.2K | $600.2K | +7.1% |
| Person County | $285K | $299.9K | +5.3% |
| Wake County | $460.8K | $475.5K | +3.2% |
| Durham County | $404.9K | $411.5K | +1.7% |
| Granville County | $318.4K | $315K | -1.1% |
Housing Supply in Durham County, NC
How many homes are available in Durham County, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,088 | 1,090 | 0.2% |
Summary: The Durham County real estate market had 1,090 homes for sale in April 2024, a 0.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 30 | 30 | 0.0% |
| 2 Bedrooms | 162 | 170 | +4.9% |
| 3 Bedrooms | 578 | 573 | -0.9% |
| 4 Bedrooms | 247 | 241 | -2.4% |
| 5+ Bedrooms | 71 | 76 | +7.0% |
Summary: The Durham County 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 4.9%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 302 | 331 | +9.6% |
Asking Price vs. Sold Price
119 Homes Were Sold
Under Asking
78 Homes Were Sold
At Asking
134 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Durham County, you could pay more than the asking price. 40.5% of homes here sold above asking price last month.
Summary: A total of 331 homes were sold or pending in Durham County in April 2024, up by 9.6% month-over-month. Of the 331 sold homes, 36% were sold under asking, 24% were sold at asking, and 40% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 80 Days | 33 Days | -58.4% |
Summary: Homes in Durham County had an average of 33 days on market in Apr 2024, down by 58.4% compared to last year.
Breakdown of Home Sale Times
247 Homes Were Sold
Under 30 Days
52 Homes Were Sold
In 30 - 90 Days
32 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Durham County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 331 homes were sold in Durham County; 75% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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