Durham Housing Stats for June
Last month’s housing data showed a strong increase in the health of the
Durham housing market. Will the numbers for June hang on to those gains? Let’s
take a look.
For all of Durham County there were 2046 houses listed at the end of June. 328
sales closed in June, so at that pace the currently available inventory would be
sold in 6.2 months. This is an improvement of 2.1 months building
on May’s improvement of 3.5 months. In fact, this would almost make Durham
County a seller’s market if that strength held up for any length of time.
For the 27713 area code there were 427 homes listed at the end of
June. 108 homes sold during June, so the current listings would be sold through
in just under four months. This is another significant improvement from
last month and a marked improvement from Aprils 12 month absorption rate.
Like last month, these improvements are largely driven by increases in the
number of homes that are sold without a similar increase in the number of listed
homes. Still, two months of solid sales in both the county as a whole and in
south Durham can lead one to believe that our market is recovering.
Let’s take a look at some individual communities
| Total Available Listings |
Total Closed Sales |
Absorption Rate | Average Sale Price | |
| Woodcroft | 63 | 23 | 2.7 | $185,178 |
| Hope Valley Farms | 58 | 14 | 4.1 | $190,471 |
| Woodlake | 9 | 9 | 1.0 | $203,167 |
| Parkwood | 20 | 7 | 2.9 | $139,057 |
| Chancellors Ridge | 17 | 5 | 3.4 | $291,400 |
| Penrith | 3 | 4 | 0.8 | $182,225 |
| Wynterfield | 14 | 4 | 3.5 | $137,050 |
| Orchard Lake | 7 | 4 | 1.8 | $179,725 |
| Southampton | 2 | 4 | 0.5 | $378,377 |
All of these communities showed strong improvements over last month’s
numbers, and currently appear to be in a seller’s market — most of them
for the second month in a row.
Tags: housing stats
