Durham Experienced 56 Per Cent Increase In Residential Transactions September 2020
We will continue to see a busy fall market in 2020 with a low inventory of homes pushing up the pricing in many areas of Durham. There was a 20 percent increase in price year over year with an average price in September of $734,038. The low mortgage rates have brought out many 1st time buyers that are still trying to get into this crazy market and downsizers wanting to purchase a smaller home so they have no mortgage. The demand for housing remains strong and will ultimately continue through this Covid-19 pandemic and motivate people wanting to move to Durham's Eastern suburb areas to have more social distancing space, more room for home offices, and family backyard staycations.