The Long & Foster Market Minute

Focus On: Durham County Housing Market March 2021

Units Sold
461
Active Inventory
244
Median Sale Price
$325,000
Days On Market
25
Up 27%
Vs. Year Ago
Down -70%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -43%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 461 sold this month in Durham County versus 349 last month, an increase of 32%. This month's total units sold was higher than at this time last year, an increase of 27% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 568 units or 70%. The total number of active inventory this March was 244 compared to 812 in March 2020. This month's total of 244 is lower than the previous month's total supply of available inventory of 354, a decrease of 31%.

Median Sale Price
Last March, the median sale price for Durham County was $280,815. This March, the median sale price was $325,000, an increase of 16% or $44,185 compared to last year. The current median sold price is 13% 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
556
Current Contracts
616
Sold Vs. List Price
102.2%
Months of Supply
0.5
Down -10%
Vs. Year Ago
Up 27%
Vs. Year Ago
Up 2.4%
Vs. Year Ago
Down -76%
Vs. Year Ago

Months of Supply
In March, there was 0.5 months of supply available in Durham County, compared to 2.2 in March 2020. That is a decrease 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 556 homes newly listed for sale in Durham County compared to 615 in March 2020, a decrease of 10%. There were 616 current contracts pending sale this March compared to 484 a year ago. The number of current contracts is 27% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Durham County was 102.2% of the average list price, which is 2.4% higher than at this time last year.
Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 44, a decrease of 43%.
The Long & Foster Market Minute Durham County are defined as properties listed in zip code/s .
*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.
REALTOR, Equal Opportunity HousingInformation 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.