DURHAM AREA HOUSING MARKET DATA

There was an increase in total units sold in March, with 265 sold this month in Durham Area Real Estate versus 239 last month, an increase of 11%. This month's total units sold was lower than at this time last year, a decrease of 17% versus March 2024.

Versus last year, the total number of homes available this month is higher by 238 units or 45%. The total number of active inventory this March was 767 compared to 529 in March 2024. This month's total of 767 is higher than the previous month's total supply of available inventory of 750, an increase of 2%.

Last March, the median sale price for Durham Area Homes was $409,000. This March, the median sale price was $440,000, an increase of 8% or $31,000 compared to last year. The current median sold price is 3% higher than in February.

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

In March, there was 2.9 months of supply available in Durham Area, compared to 1.6 in March 2024. That is an increase of 76% 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 489 homes newly listed for sale in Durham Area compared to 419 in March 2024, an increase of 17%. There were 399 current contracts pending sale this March compared to 394 a year ago. The number of current contracts is 1% higher than last March.

In March, the average sale price in Durham Area was 99.0% of the average list price, which is 0.9% lower than at this time last year.

This month, the average number of days on market was 45, lower than the average last year, which was 63, a decrease of 29%.





FOCUS ON: DURHAM AREA HOUSING MARKET			MARCH 2025

Zip Code(s): 27701, 27703, 27704, 27705, 27707, 27712 and 27713
Units Sold 265	Active Inventory 767	Median Sale Price $440,000	Days On Market 45

Down -17% Vs. Year Ago	Up 45% Vs. Year Ago	Up 8% Vs. Year Ago	Down -29% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 265 sold this month in Durham Area Real Estate versus 239 last month, an increase of 11%. This month's total units sold was lower than at this time last year, a decrease of 17% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 238 units or 45%. The total number of active inventory this March was 767 compared to 529 in March 2024. This month's total of 767 is higher than the previous month's total supply of available inventory of 750, an increase of 2%.
		Median Sale Price Last March, the median sale price for Durham Area Homes was $409,000. This March, the median sale price was $440,000, an increase of 8% or $31,000 compared to last year. The current median sold price is 3% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 489	Current Contracts 399	Sold Vs. List Price 99.0%	Months of Supply 2.9

Up 17% Vs. Year Ago	Up 1% Vs. Year Ago	Down -0.9% Vs. Year Ago	Up 75% Vs. Year Ago


		Months of Supply In March, there was 2.9 months of supply available in Durham Area, compared to 1.6 in March 2024. That is an increase of 76% 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 489 homes newly listed for sale in Durham Area compared to 419 in March 2024, an increase of 17%. There were 399 current contracts pending sale this March compared to 394 a year ago. The number of current contracts is 1% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Durham Area was 99.0% of the average list price, which is 0.9% lower than at this time last year. Days on Market This month, the average number of days on market was 45, lower than the average last year, which was 63, a decrease of 29%.


	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.