January 2010 Durham Real Estate Market Update

2010 has gotten off to a good start.  I am seeing a lot of activity in the market.  In the Triangle overall, 21% of the current inventory is under contract.  Durham is doing slightly better overall with 22% of its inventory under contract.

Currently, and compared to January 2009:

  • New listings are down 3.3%;
  • Closed sales for the month of January are down 2.2%;
  • Median prices are down 1.9%;
  • Average prices are down 9.9%;
  • The list to sales price ratio remained about the same at 95.9%; and
  • Days on market decreased from 94 to 87.

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