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Winter 2012 Market Update
Now is an exceptional time to buy a home in Durham. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 919-491-4663 (HOME) or 877-944-2739 (CREW).
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| Average Home Price | $175,000 - View Graph Trend |
| Average Price Compared to Last Year | No Change |
| Average Time on Market | 90-120 days |
| Best Selling Price Range | $100,000 - $149,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 95-100% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Durham is | Increasing |
| Seller Activity for the past 90 days in Durham is? | Increasing |
| Multiple Offers? | No |
| Multiple Offers Commentary | Mulitple offers are occuring occassionally but typically that is happening more in short sale and foreclosure properties. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | USDA Rural Financing to allow for 100% financing has just been approved again and is now available! Easier qualifying, no down payment and low interest rates make this program a great option for our outlying areas. Call for more info on this great program! |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Good economic news |
| Nearest Metro Area | Raleigh/Durham/Chapel Hill |
| Housing Hot Spots | South Durham remains very hot due to its proximity to Research Triangle Park, shopping and easy access to major Interstates. New construction is going at a rapid pace as well, with builders offering many incentives to buyers to purchase their products. Call today for expert representation. |
| Average Sold Price | $175,000 - View Graph Trend |