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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Durham County is a seller's market

Buyer's
Market

Difference Since June 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

$415,027

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$14,981(+3.7%)

Key Takeaway

Homes in Durham County have sold for 3.7% more than they did a year ago.

Summary: The median home sold price in Durham County was $415,027 in June 2024, up 3.7% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $246K$233K
-5.3%
2 $309.2K$315K
+1.9%
3 $379.3K$391.6K
+3.3%
4 $500K$510K
+2.0%
5+ $650K$699.9K
+7.7%

Summary: Durham County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.3%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 7.7%.

Median Sold Price Compared To Nearby Counties

Person County
+5.5%
Orange County
+5.2%
Wake County
+4.0%
Durham County
+3.7%
Granville County
-2.4%

Housing Supply in Durham County, NC

How many homes are available in Durham County, NC?

Number of Homes For Sale

May 2024Jun 2024CHANGE
1,2531,144-8.7%

Summary: The Durham County real estate market had 1,144 homes for sale in June 2024, a 8.7% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 3123
-25.8%
2 193179
-7.3%
3 633560
-11.5%
4 294282
-4.1%
5+ 102100
-2.0%

Summary: The Durham County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25.8%, 2 bedroom homes decreased by 7.3%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 4.1%, and 5+ bedroom homes decreased by 2%.

Number of Homes Sold

May 2024Jun 2024CHANGE
370290-21.6%

Asking Price vs. Sold Price

106 Homes Were Sold
Under Asking

52 Homes Were Sold
At Asking

132 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Durham County, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.

Summary: A total of 290 homes were sold or pending in Durham County in June 2024, down by 21.6% month-over-month. Of the 290 sold homes, 37% were sold under asking, 18% were sold at asking, and 46% 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

Jun 2023Jun 2024CHANGE
66 Days24 Days-63.5%

Summary: Homes in Durham County had an average of 24 days on market in Jun 2024, down by 63.5% compared to last year.

Breakdown of Home Sale Times

227 Homes Were Sold
Under 30 Days

43 Homes Were Sold
In 30 - 90 Days

20 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 290 homes were sold in Durham County; 78% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 7% 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 12 Days Ago

Newest Listings in Durham County, NC

Nearby Markets to Durham County, NC

What housing markets are near Durham County, NC?