Sunday, May 17, 2009
Durham real estate sales were down approximately 40% in the first quarter of 2009 compared to the same time period in 2008. While total Durham homes for sale are down, average prices are up approximatetly 2%.
Description
1Q 2008
1Q 2009
% Change
Durham County
Number of detached sales
617
473
-23.34 %
Number of condo sales
105
60
-42.86 %
Number of townhouse sales
19
9
-52.63 %
Number of new construction sales
115
171
48.70 %
Number of re-sales
626
371
-40.73 %
Average detached sales price
$213,115
$219,969
3.22 %
Average condo sales price
$160,278
$159,625
-0.41 %
Average townhouse sales price
$250,811
$256,389
2.22 %
Average new construction sales price
$219,749
$225,755
2.73 %
Average re-sales price
$204,188
$208,427
2.08 %
High Sale price detached
$2,100,000
$1,500,000
-28.57 %
High Sale price condo
$380,000
$485,000
27.63 %
High Sale price townhouse
$785,500
$677,500
-13.75 %
High Sale price new construction
$645,000
$800,000
24.03 %
High Sale price re-sale
$2,100,000
$1,500,000
-28.57 %
Average Sales Price for the entire area
$206,586
$213,894
3.54 %
Number of Listings for the entire area
2329
1910
-17.99 %
Average List price for New Construction for the entire area
$291,329
$296,885
1.91 %
Average List price for Re-sale for the entire area
$231,239
$240,815
4.14 %
Average List price for the entire area
$246,023
$252,176
2.50 %
Source: TARR Reports, Durham Market Snapshot