Happy New Year and welcome to 2017! As we welcome in the new year, I wanted to take this opportunity to look back at the Durham County housing trends for 2016; specifically, year over year data taken directly from the Triangle Multiple Listing Service (TMLS).
For the 12 months ending December 2016, again, Durham County only:
1. 853 homes for sale representing a 17.7% decrease from the 12 months ending December 2015;
2. 4,929 homes sold representing a 12.6% increase from the 12 months ending December 2015;
3. $114 median price per square foot representing a 6.5% increase from the 12 months ending December 2015;
4. 12 median days on the market until homes went under contract, representing a 40% decrease from the 12 months ending December 2015;
5. 2.1 months of supply representing a 25% decrease from the 12 months ending December 2015.
So what does this all mean for Durham County? Well, in a nutshell:
1. fewer homes for sale and a strong seller’s market;
2. higher demand for homes means higher prices and less time on the market.
It’s a great time to sell! And when you make that decision to sell, call Laura Peterson Partners.
We will provide expert guidance and support during every stage of the selling process from pricing analysis, to home preparation / staging, online marketing, offer negoatiation, and finally, closing.
Contact Us Today!
853 Homes For Sale
4929 Homes Sold
12 Median DOOM
2.1 Months Of Supply