2009, Year End, Raleigh/Durham/Chapel Hill Market Data

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, on average across the Triangle, saw some decline, but not as much as other parts of the country.

As the year ended, The Triangle (Raleigh, Durham & Chapel Hill) saw:

  • Closed sales decline 11.8% (rather than 13% at the end of November),
  • Median prices were down 4.2%,
  • Average prices declined 6.6%, and
  • Days on market increased from 91 to 101.

While it took longer to get homes sold, most houses did sell and prices did not erode significantly. Overall, however, prices eroded in the Triangle more signficantly than they did in Chapel Hill and Durham.

See related posts on the 2009, Year End, Chapel Hill Market Data and the 2009, Year End, Durham Market Data.

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