I am happy to report that the 2009 Chapel Hill, Durham, Raleigh real estate market ended on a high note. Overall all, while sales were still down, they were down much less than the 25% decline we saw in 2008 and thankfully prices held their own.
As the year ended, Durham North Carolina saw:
- Closed sales decline 7.8% (rather than 15.6% at the end of November),
- Median prices were flat,
- Average prices were also flat, and
- Days on market increased from 85 to 88.
While it took only slightly longer to get homes sold, most houses did sell and prices held their own. I take this as success in a difficult time. I am looking forward to a robust 2010 as our economy begins to improve.
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