DURHAM AREA HOUSING MARKET DATA

There was a decrease in total units sold in January, with 191 sold this month in Durham Area Real Estate versus 280 last month, a decrease of 32%. This month's total units sold was lower than at this time last year, a decrease of 5% versus January 2024.

Versus last year, the total number of homes available this month is higher by 87 units or 15%. The total number of active inventory this January was 664 compared to 577 in January 2024. This month's total of 664 is higher than the previous month's total supply of available inventory of 630, an increase of 5%.

Last January, the median sale price for Durham Area Homes was $404,390. This January, the median sale price was $399,000, a decrease of 1% or $5,390 compared to last year. The current median sold price is 4% lower than in December.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In January, there was 3.5 months of supply available in Durham Area, compared to 2.9 in January 2024. That is an increase of 21% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 354 homes newly listed for sale in Durham Area compared to 361 in January 2024, a decrease of 2%. There were 251 current contracts pending sale this January compared to 306 a year ago. The number of current contracts is 18% lower than last January.

In January, the average sale price in Durham Area was 97.2% of the average list price, which is 1.6% lower than at this time last year.

This month, the average number of days on market was 52, lower than the average last year, which was 87, a decrease of 40%.





FOCUS ON: DURHAM AREA HOUSING MARKET			JANUARY 2025

Zip Code(s): 27701, 27703, 27704, 27705, 27707, 27712 and 27713
Units Sold 191	Active Inventory 664	Median Sale Price $399,000	Days On Market 52

Down -5% Vs. Year Ago	Up 15% Vs. Year Ago	Down -1% Vs. Year Ago	Down -40% Vs. Year Ago


		Units Sold There was a decrease in total units sold in January, with 191 sold this month in Durham Area Real Estate versus 280 last month, a decrease of 32%. This month's total units sold was lower than at this time last year, a decrease of 5% versus January 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 87 units or 15%. The total number of active inventory this January was 664 compared to 577 in January 2024. This month's total of 664 is higher than the previous month's total supply of available inventory of 630, an increase of 5%.
		Median Sale Price Last January, the median sale price for Durham Area Homes was $404,390. This January, the median sale price was $399,000, a decrease of 1% or $5,390 compared to last year. The current median sold price is 4% lower than in December. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 354	Current Contracts 251	Sold Vs. List Price 97.2%	Months of Supply 3.5

Down -2% Vs. Year Ago	Down -18% Vs. Year Ago	Down -1.6% Vs. Year Ago	Up 21% Vs. Year Ago


		Months of Supply In January, there was 3.5 months of supply available in Durham Area, compared to 2.9 in January 2024. That is an increase of 21% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 354 homes newly listed for sale in Durham Area compared to 361 in January 2024, a decrease of 2%. There were 251 current contracts pending sale this January compared to 306 a year ago. The number of current contracts is 18% lower than last January.
		Sale Price to List Price Ratio In January, the average sale price in Durham Area was 97.2% of the average list price, which is 1.6% lower than at this time last year. Days on Market This month, the average number of days on market was 52, lower than the average last year, which was 87, a decrease of 40%.


	Durham Area are defined as properties listed in zip code/s 27701, 27703, 27704, 27705, 27707, 27712 and 27713.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by TRIANGLE and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TRIANGLE or Long & Foster Real Estate, Inc.