Housing Stats for August 2009
[Regular readers might have noticed that BCRE has been a bit quiet of late. That's because Mr. BCRE has been stuck in bed ill for the past two weeks and change. Data for this post was pulled from the Triangle Multiple Listing Service on the evening of August 31. Typos and other errors are compliments of the Epstein-Barr virus.]
So far, we have had a few good months of market recovery here in Durham. Will August continue the trend, or will we take a breather? Let’s look at the numbers and find out.
For all of Durham County there were 1987 houses listed at the end of August. 234
sales closed in August, so at that pace the currently available inventory would be
sold in 8.5 months. This is a significant step backwards from the previous two months, which both had adsorption rates in the 6s. The decline is driven almost entirely by a drop in the number of homes sold in August. Some decline might be expected as we near the end of the “home-buying season.”
For the 27713 area code there were 370 homes listed at the end of
August. 65 homes sold during June, so the current listings would be sold through
in 5.7 months. This is again a backwards trend — the last two months had adsorption rates in the 4s. It does, however, still show that strength that South Durham has in leading the general Durham real estate market
Details for individual communities are really all over the map. Some of our traditional stalwarts took the month off while some other communities stepped up to take their place. Here are the numbers
| Total Available Listings |
Total Closed Sales |
Adsorption Rate | Average Sale Price | |
| Woodcroft |
54 |
7 |
7.7 | $140,571 |
| Hope Valley Farms |
55 |
15 |
3.7 | $184,647 |
| Woodlake |
9 |
4 |
2.1 | $224,100 |
| Parkwood |
21 |
7 |
3.0 | $115,021 |
| Chancellors Ridge |
13 |
4 |
3.3 | $258,000 |
| Penrith |
2 |
1 |
2.0 | $143,000 |
| Colvard Farms |
13 |
3 |
4.3 | $1,234,989 |
With the exception of Woodcroft [which will come back next month], all of these communities still show strength as the overall housing market recovers.
Tags: housing stats
