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Summer 2010 Market Update
Market Commentary Provided bySusan Crawford If you can qualify, 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-HOME |
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| Average Home Price | $175,000 - View Graph Trend |
| Average Price Compared to Last Year | No Change |
| Average Time on Market | |
| Best Selling Price Range | $100,000 - $149,000 |
| Worst Selling Price Range | $300,000 - $349,000 |
| 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 |
| 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 |
Durham Local News
Repeat Buyers & Investors With Cash Boosting Home Sales & Prices In Many Markets, New HouseHunt Survey Shows
For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation's housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhoods, according to the latest HouseHunt quarterly current market conditions survey.
"The current ratio of 58% to 42% favors repeat buyers," said Michael Bearden, president and CEO of HouseHunt, Inc. "This is an increase of 10 percentage points over a year ago and 24 points over six months ago. In a more balanced market of supply and demand, repeat buyers usually lead by a two-thirds ratio."
Click here for full article...
For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation's housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhoods, according to the latest HouseHunt quarterly current market conditions survey.
"The current ratio of 58% to 42% favors repeat buyers," said Michael Bearden, president and CEO of HouseHunt, Inc. "This is an increase of 10 percentage points over a year ago and 24 points over six months ago. In a more balanced market of supply and demand, repeat buyers usually lead by a two-thirds ratio."
Click here for full article...
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919-491-4663 (HOME)Blog Archives
Mortgage Rates
– Jul 30th, 2010 –
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30 yr. fixed rate: 4.60%---------------------------------
15 yr. fixed rate: 4.07%
30 yr. jumbo rate: 5.42%
15 yr. jumbo rate: 4.98%
Home Values
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Susan Crawford
Triangle Home Crew Realty |
919-491-4663 (HOME) |
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