Is Durham County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$411,601
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Durham County have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Durham County was $411,601 in March 2024, up 1.4% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $217K | $257K | +18.4% |
| 2 Bedrooms | $308K | $315K | +2.3% |
| 3 Bedrooms | $385.2K | $389K | +1.0% |
| 4 Bedrooms | $509.4K | $513.1K | +0.7% |
| 5+ Bedrooms | $682.5K | $697.4K | +2.2% |
Summary: Durham County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.4%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Counties
| Orange County | $555.3K | $606.8K | +9.3% |
| Wake County | $462K | $472.4K | +2.2% |
| Person County | $285.7K | $290K | +1.5% |
| Durham County | $405.8K | $411.6K | +1.4% |
| Granville County | $320.1K | $314.9K | -1.6% |
Housing Supply in Durham County, NC
How many homes are available in Durham County, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,038 | 1,080 | +4.0% |
Summary: The Durham County real estate market had 1,080 homes for sale in March 2024, a 4.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 29 | +45.0% |
| 2 Bedrooms | 159 | 167 | +5.0% |
| 3 Bedrooms | 555 | 573 | +3.2% |
| 4 Bedrooms | 241 | 243 | +0.8% |
| 5+ Bedrooms | 63 | 68 | +7.9% |
Summary: The Durham County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 45%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 7.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 250 | 289 | +15.6% |
Asking Price vs. Sold Price
125 Homes Were Sold
Under Asking
62 Homes Were Sold
At Asking
102 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Durham County, you may be able to get a good deal. 43.3% of homes here sold below asking price last month.
Summary: A total of 289 homes were sold or pending in Durham County in March 2024, up by 15.6% month-over-month. Of the 289 sold homes, 43% were sold under asking, 21% were sold at asking, and 35% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 78 Days | 70 Days | -11.0% |
Summary: Homes in Durham County had an average of 70 days on market in Mar 2024, down by 11% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
179 Homes Were Sold
In 30 - 90 Days
63 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Durham County has remained consistent over time.
Summary: During March 2024, 289 homes were sold in Durham County; 16% of homes were sold within 30 days, 62% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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