From the category archives:

Market Updates

Our New Luxury Classification

February 15, 2010
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Let’s start with some stats As promised in the last post, DurhamLuxRE will begin to look at a broader range of the luxury home market over a wider area in the Triangle. Specifically, we’re talking about any home listed and/or then sold for at least $450,000. Our old threshold was $700,000 and we still make [...]

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2009 Durham Luxury Market

December 31, 2009
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A typical year? A first pass looking at the Durham luxury home statistics for 2009 you might not guess that we’re in a recession. In the 4th quarter 3 homes  closed in Durham for prices over $700,000, the somewhat arbitrary cut off point I use for analyzing the luxury home market in Durham. However, the [...]

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Third Quarter 2009 Market Report

October 9, 2009
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So what are we to make of this? For several quarters in a row now Durham has maintained over 10% of the luxury market in the Triangle with 13 sales. Since I have been doing these updates, my rather arbitrary definition of the luxury market has been anything in the MLS system that is listed [...]

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Second Quarter Luxury Home Report

June 30, 2009

More of the Same Pulling together these statistics on the Durham luxury home market is getting a little boring I’m afraid. Unlike our neighboring counties of Wake, Orange and Chatham, through the economic downturn Durham has not gotten worse…or better. You might see a glimmer of hope in the fact that for the last two [...]

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The Triangle Top Ten

June 29, 2009

Just for fun, I decided to look at the top ten most expensive listings in the Triangle Multiple Listing Service at the end of June.. Here are some observations from the exercise: The top ten range from $11,900,000 to $3,850,000. Only the top two are over $5 M. It still amazes me that many homes [...]

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1st Qtr. Report on Durham Luxury Homes 2009

April 19, 2009

Increased Share for Durham in Luxury Market For the second quarter in a row we observe the odd phenomena of Durham increasing it’s market share of luxury homes sold in the four county area of the Triangle area that I look at that includes Durham, Wake, Orange and Chatham counties. This happened without a significant [...]

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2008 Year End Summary

January 10, 2009

If you thought the market for luxury homes in Durham couldn’t get much worse, you were… right. Durham finishes the year with 34 sales of homes that listed for over $700,000, although two of the four that sold in the 4th quarter closed for less than that threshold.  In 2007 there were 38 sales, in [...]

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Market Report 3rd Qtr 2008

October 3, 2008

_____________________________________ Bucking the Trend? Amidst all the terrible economic news it might be surprising to learn that the luxury home market in Durham may have held its own during the 3rd quarter of the year…or at least it hasn’t gotten any worse. During the quarter, 12 homes listed for over $700,000 sold, compared with 8 [...]

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It’s Time for Football!

October 1, 2008

My first visit to Durham was almost 45 years ago when I was a high school senior and was being courted as a football recruit by all the Triangle ACC schools and a number of others as well. The planes were propeller driven and they rolled steps out to the runway apron to deplane passengers [...]

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Mid-Quarter Update

September 9, 2008

I usually wait until the end of the quarter to take a look at the quarter’s activity in the Durham luxury home market but it’s been an interesting summer in some ways. The summer is usually not particularly active but since July 1, six homes in the $700,000 or more category have closed and another [...]

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Second Quarter Sales Analysis for Durham Luxury Homes

July 7, 2008

As we pass Memorial Day, the Summer solstice and Independence Day, the dog days of summer are upon us. We’ve also had more consecutive days with rain than many of us can remember. But even if drought fears have receded a bit, sales of luxury homes in Durham have been sparse and July and August [...]

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First Quarter Sales Analysis

April 20, 2008

In the first quarter of 2008, 11 luxury homes in Durham sold, which was 5 better than last year’s 6 during the same period. This seems encouraging at first blush since sales in the $700,000 or more category decreased in both Orange (22 down from 33) and Wake (101 down from 110.) That means that [...]

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