Durham is located in the "heart" of North Carolina and is a wonderful place to live, work, and play! Whether you are new to the area or someone who has been here for a lifetime, Durham offers an outstanding quality of life that is the envy of many.
The real estate market in Durham is full of choices and variety. There are new home and historical homes, apartments, condos, and town homes. You can choose to live in the heart of the action downtown or move a bit further out into the suburbs. The numerous housing opportunities in Durham are one of the things that make it such a unique place to live and work. Living in Durham is also affordable. Property taxes are low for residents in Durham and those in the county. For residents living in the city limits, both city and county taxes are assessed while county residents only pay county taxes.
**Durham County Residential Activity:
As of 3rd quarter 2009, overall inventory decreased 14% (re-sale inventory decreased 8% and new home inventory decreased 34%) compared to inventory levels at the end of 3rd quarter 2008. The average days on the market for active listings is 127, up from 110 days at the end of 3rd quarter 2008. Looking at closed sales in the third quarter of 2009, there were 1,113 closings, an increase of 3% compared to third quarter 2008. The average days on the market for homes that closed during 3rd quarter 2009 was 86 days compared to 81 days in 3rd quarter 2008. The current supply of homes based upon third quarter 2009 closings is 6 months. The national current supply is 9 months. The average list price is $251,575, an increase of 2% compared to the average for the end of 3rd quarter 2008. The average sales price was $203,860, up 4% compared to the end of 3rd quarter 2008. The median sales price per square foot was $105.40, up 5% compared to third quarter 2008.
Business and industry is thriving in Durham! The prime location, enviable quality of life, low cost of living, and talented work force make it a great place to own and operate a business. One of Durham's largest employers is Duke University. There's also the Research Triangle Park where 140 major research companies such as GlaxoSmithKline, IBM, Bayer, and EPA employ some 39,000 residents.
For many families, finding the right place to live involves a close look at the schools available in the area. Education is a major focus in the Durham area which has more Ph.D.s per capita than anywhere in the country. Durham Public Schools is home to 31,000 students in 44 schools. The excellence of teaching shows in the region's test scores.
There's never a shortage of "things to do" in Durham. There are many recreational opportunities such as fishing, boating, swimming, & golfing at one of the 60-plus parks scattered throughout the region. The sports fan will have something to watch year round in Durham. With home teams such as the Duke Blue Devils and the Durham Bulls there is always a game of some sort to catch! The mild climate of North Carolina makes outdoor activities a pleasure year round.
Come enjoy what the area has to offer and discover for yourself why so many people think Durham is the best place in the United States to live, work, and play. Once you experience the stunning scenery, good company and wonderful weather, you won't ever want to leave!
**Data pulled from 2009 Third Quarter Triangle Area Residential Realty Report, Stacey P. Anfindsen, Editor
ZIP Codes: 27701, 27702, 27703, 27704, 27705, 27706, 27707, 27708, 27709, 27710, 27711, 27712, 27713, 27715, 27717 Location Characteristics: Welcome to Durham, North Carolina... a wonderful place to live, work, and play!
About Lisa Lundy:
Lisa is a native North Carolinian and has resided in the Triangle area for the past 42 years. She is the mother of a 11 year old son and is very acquainted with the public school system. Lisa has superior knowledge of the Triangle area and understands the needs of families as they transition into the community. Lisa's working career prior to becoming involved with real estate included over 19 years of customer service experience in various Sales/Marketing positions at Nortel Networks. Lisa excels in building good relationships with her clients, giving each one her full attention and serving their needs with kindness and professionalism. Lisa is in the business of making dreams come true - one transaction at a time!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
