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Durham, NC Real Estate News

By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
Durham is a bargain compared with the other areas around the Triangle. In the first half of 2006 the average sales price was $190,000 compared to $252,000 in Cary and $330,000 in Chapel Hill. In terms of the economic environment, the Durham county workforce increased 3.49% from 2005. In addition, the unemployment rate dropped from 4.7% last year to 3.9% this year. Housing sales are also up in Durham by 4.3% this year. The current crop of sellers have their homes listed at an average of 6.35% per year above last years numbers. Summer Meadow closed the most amount of new homes during the first six months. The average sales price of new construction is $255,000. Based upon 6 months of sales and current inventory, there is a 6 month supply of new homes in the county and five months of resal...
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