The average sale price of existing homes in Durham rose 3.6 percent in the third quarter compared to a year ago, defying the national trend of declining home prices, according to a survey released today by the National Association of Retailers.
Sales prices in the Raleigh-Cary metropolitan fell in line with the national trend, but declined significantly less than the national average.
Sales prices in Raleigh-Cary declined 6.3 percent versus a year ago. The nationwide price decrease was 11.2 percent.
Sale prices of existing homes in Durham averaged $184,300 in the third quarter; in Raleigh-Cary the average sales price was $207,900.
At the same time, the number of existing homes sold rose nationwide and in North Carolina in the third quarter compared to the second quarter, thanks to a boost in demand triggered by the tax credit for first-time buyers.
The number of single-family homes and condominiums sold rose 11.4 percent nationwide versus the second quarter, hitting a two-year high. The number sold in North Carolina rose 18.4 percent compared to the second quarter.
The number of homes sold nationwide rose 5.9 percent for the year-ago quarter, but the number sold in North Carolina declined 4.4 percent during that span.
David Ranii has been a business reporter at The News & Observer since 1993. Over the years he has covered information technology, banking, insurance, the pharmaceutical and biotechnology industries, media businesses and real estate. Contact him at 919-829-4877 or 
Comments
I think that this is great.
Thu, 12/10/2009 - 14:28 — totalkmI think that this is great. People in Durham must be really pleased because the property market is always worrying at the best of time. http://totalkm.com/
Trust Obama, It'll all be reallly nice, reallly soon.
Tue, 11/10/2009 - 17:07 — ThoughtCrimesAnomaly.
Wake County
Tue, 11/10/2009 - 16:22 — landsharkCould it be that Durham residents are better at managing their credit! They paid a little bit less for over priced homes. Fewer homes are being taken over by the banks and mortgage companies? There plenty of jobs here! However they pay a little less and the folks in Durham have most of them........LOL
Home prices went up in Durham-Chapel Hill by 3.6%
Tue, 11/10/2009 - 22:15 — aaaaaaFull table here: http://snipurl.com/t67dj (From Realtor.org - may load a little slowly)
It just goes to show how much the N&O has abandoned the other side of the Triangle that they don't bother to report this.
Edit: The original title and link (now dead) for this article with no mention of Durham:
http://blogs.newsobserver.com/business/home-prices-decline-locally-nationally
And it's going to get worse
Tue, 11/10/2009 - 13:33 — PercyKutionAnd it's going to get worse, because there are no JOBS here anymore. It's over, it's done, this country is GONE. The rich won (for right now). And the worse it gets, the better it will be.
This was bound to happen.
Tue, 11/10/2009 - 13:10 — besttoastersThis was bound to happen. Sad but what can you do? the best toaster oven