Monday, July 13, 2009
The Durham real estate market is still going strong but, like the rest of the country, our market is experiencing a great deal of change. The table below compares Durham homes for sale and the associated statistics from 2008 to 2009.
- From 2008 to 2008, Durham homes for sale, otherwise referred to as new listings, decreased by 21%.
- Closed sales in the Durham real estate market are off 28.6% from 2008.
- While sales are down, average prices are also down 1.2%.
- On average, sellers are getting slightly less than what they got last year. In other words, the list-to-sales price ratio is down to 95.5% from 96.8% in 2008.
- Average days on marrket are stretching out. We are now seeing it take approximately 94 days to sell a home in Durham compared to 87 days last year.
Average Sales Price
Avg Days on Market
Click here to view Team Jodi’s Chapel Hill homes for sale
Click here to Search homes for sale in Chapel Hill
Data Source: Triangle MLS