Lux Market Reports

At least quarterly I do a number of searches on the Triangle Multiple Listing Service (TMLS) that any REALTOR can do to develop some statistics on activity in the Durham luxury home market. These posts were originally created for my luxury blog DurhamLuxRE.com and the links below to each report will take you to that site. I am not actively posting on DurhamLuxRE these days but I intend to keep posting the reports there with links from this page.

Those who followed DurhamLuxRE know that the luxury market was originally defined somewhat arbitrarily at anything listed or sold for $700,000 or more in Durham County and includes homes in zip code 27517 which are in Durham County but have Chapel Hill addresses. What I have found is that this is actually a pretty good demarcation point in the Durham market. It is at that point that Durham becomes significantly different from surrounding markets. This is both a challenge for sellers and listing agents in the county and an opportunity for buyers and buyer agents all over the region.

From this page you will be able to link to other pages or blog posts with the results of these periodic analyses. I’ll insert the link in reverse order so that the most recent appear first.

Third Quarter Report 2009 Holding market share and the lead in absorption rate but substantial price reductions restrain our enthusiasm.  Here are the details.

Second Quarter Report 2009 Again 9 sales but market share holds between 9 and 10 percent and Durham actually has the highest absorption rate of the four counties looked at. Here are the details.

First Quarter Report 2009 With only 9 sales in the $700+ bracket during the first quarter, Durham still improved its market share to 10.8% or double the average for the last four years. Here are the details.

Year End Report 2008 – Only four closed sales of homes listed for $700+ in the year’s final quarter and only two closed for more than that amount. The year proved pretty typical however, with 34 sales…right at the four year average…while Orange, Wake and Chatham luxury sales dropped dramatically.  What this says is that Durham has no place to go but up. Here are the details.

Third Quarter Report 2008 – The Durham luxury home market surprises by actually doing better year-to-date than last year while our adjacent counties showed sharp declines. Maybe not great news, but not that bad either. Here are the details.

Third Quarter Interim Report 2008 – Not quite the end of the quarter but some interesting developments and a lot of new listings. Click for details.

Second Quarter 2008 – The Dog Days of Summer. Inventory is still high and sales are weak in spite of the availability of some outstanding properties and continued price pressure. Click here for the full report.

First Quarter 2008 – A little hope but still low absorption rate for Durham’s finest homes. Some comparisions with the luxury markets of our neighbors to the east and west. Click here for the report.

Year End Wrap up – A follow up to the comprehensive report on market conditions in the Durham Luxury Market that launched this blog. Click here for the report.

The Durham Luxury Market Report – The report that started it all analyzing market conditions in the Durham Luxury Home Market. Click here for a downloadable pdf version of the report that can be read in Adobe Reader and printed easily.