In Durham, Homes Sold For Average Of 97.3% Of 2006 Prices With Similar Volume

Durham, NH Single Family Home Market Recap For 2007

If the 2007 Durham real estate market felt a lot like the year before, that is because in some ways, it was.

Durham saw 68 single family home sales in 2007, just one less than the prior year. The average listing price of homes that sold was up 1.1% from 2006 to $399,509. The average sales price was $368,302 or 97.3% of the average selling price the year before. The difference between asking price and selling price widened a bit in 2007 to 7.8%. Time on market lengthened slightly to 122 days on market but was in the same ballpark as the preceeding year.

Pending Sales Tumble in 2007

Where the Durham home market stumbled was in pending sales which were at two thirds of the level seen in 2006. The average listing price of the 64 homes that did go under agreement was $397,545.

Less inventory than 2006.

121 single family homes reached the Durham market last year, which was about 80% of the previous years total. Average asking price of the listings was way down from $521,511 in 2006 to $453,414 in 2007 - 13% less than the previous year.

Notable Durham homes sales in 2007 include an Oyster River waterfront home on Deer Meadow Road that sold for $1,250,000 with an original asking price of $1,700,000.

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2006 to December 31, 2007.