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FOCUS ON: NORTH DURHAM AREA HOUSING MARKET |
JUNE 2025 |
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Zip Code(s): 27704, 27712 and 27503 |
Units Sold
75 |
Active Inventory
179 |
Median Sale Price
$385,000 |
Days On Market
48 |
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Down -1%
Vs. Year Ago |
Up 41%
Vs. Year Ago |
Down -6%
Vs. Year Ago |
Up 129%
Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in June, with 75 sold this month in North Durham Area Real Estate versus 81 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 1% versus June 2024.
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Active Inventory
Versus last year, the total number of homes available this month is higher by 52 units or 41%. The total number of active inventory this June was 179 compared to 127 in June 2024. This month's total of 179 is lower than the previous month's total supply of available inventory of 189, a decrease of 5%.
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Median Sale Price
Last June, the median sale price for North Durham Area Homes was $411,500. This June, the median sale price was $385,000, a decrease of 6% or $26,500 compared to last year. The current median sold price is 7% higher than in May.
Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.
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New Listings
99 |
Current Contracts
70 |
Sold Vs. List Price
98.7% |
Months of Supply
2.4 |
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Up 29%
Vs. Year Ago |
Up 11%
Vs. Year Ago |
Down -2.7%
Vs. Year Ago |
Up 43%
Vs. Year Ago |
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Months of Supply
In June, there was 2.4 months of supply available in North Durham Area, compared to 1.7 in June 2024. That is an increase of 43% 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.
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New Listings & Current Contracts
This month there were 99 homes newly listed for sale in North Durham Area compared to 77 in June 2024, an increase of 29%. There were 70 current contracts pending sale this June compared to 63 a year ago. The number of current contracts is 11% higher than last June.
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Sale Price to List Price Ratio
In June, the average sale price in North Durham Area was 98.7% of the average list price, which is 2.7% lower than at this time last year.
Days on Market
This month, the average number of days on market was 48, higher than the average last year, which was 21, an increase of 129%.
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North Durham Area are defined as properties listed in zip code/s 27704, 27712 and 27503. |
*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. |