First Quarter Market Update Durham NC
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
