Durham features a strong housing market
The housing market in Durham has been historically strong despite the recession's downward pull. The Wall Street Journal reported the metro as one of the top 10 best markets to invest in during the third quarter of 2010. From real estate expert accounts and the latest data, the positive attributes of the metro are holding strong. Potential homebuyers may want to consider purchasing one of the houses for sale in Raleigh-Durham to take advantage of the positive market.
The median price for a single-family home in Durham was $183,284 as of August 24, 2012, according to real estate firm ALTOS Research. The median price paid per square foot in the metro was an affordable $96 at the same time.
These prices, combined with the average time a property spends on the market before being sold (184 days as of August 24, 2012), could make the metro look even more appealing. Properties are remaining affordable and on the market long enough that current homeowners may be more willing to negotiate prices down even further.
Potential homebuyers may want to consider the benefits associated with buying a house in Durham in the near future.