Hot housing markets: See how Durham home prices compare to other NC cities
The Raleigh-Durham area real estate market has been booming for a while.
The Raleigh-Durham market was ranked as a No. 2 “growth city” by U-Haul. The one-way U-Haul truck arrivals to the region in 2021 were the second highest tracked in the country. According to a U-Haul news release, over half of all tracked one-way U-Haul traffic in the region last year were arriving customers moving in, The N&O previously reported.
In 2019, Raleigh-Durham was No. 1 on this list.
Data from Redfin Metro Area shows how median home prices in various North Carolina metro areas have fluctuated since January 2020, right before the pandemic.
Here’s a look at how Durham’s changing median home prices stacked up against other NC metro areas.
Note: Data for each month represents a rolling window of the previous 90 days.
Which NC cities saw biggest changes in median home prices?
• As of January 2022, Durham experienced nearly a 35% increase in median home prices, relative to January 2020, according to Redfin.
All cities on this list, between January 2020 and January 2022, saw an increase in median home prices.
• Median home prices in Asheville saw roughly a 32% increase from January 2020 — the smallest increase of all cities included in this graph from January 2020 to January 2022.
• Median home prices in Henderson saw roughly an 81% increase from January 2020 — the largest increase of all cities included in this graph from January 2020 to January 2022.
Chart can be viewed with this story at newsobserver.com/news/business.
How major cities’ home prices compare
• Winston-Salem had the largest increase in median home prices between January 2020 and January 2022, of the four largest NC metro areas with data available (Durham, Raleigh, Winston-Salem and Greensboro). Winston-Salem’s median home prices saw an almost 43% increase in that time frame.
• Greensboro beat out Durham and Raleigh as the city with the second-largest increase in home prices out of the four major cities with data available. Greensboro had an over 35% increase in median home prices between January 2020 and January 2022.
• Raleigh had the smallest increase in home prices out of the four major cities with data available. Raleigh had a 34.4% increase in median home prices between January 2020 and January 2022. Durham was only slightly ahead with a 34.8% increase.
• Data for median home price changes in Charlotte was not available.
Chart can be viewed with this story at newsobserver.com/news/business.
Zillow, U-Haul rank Raleigh-Durham area high for growth
Raleigh rang in the new year with a new annual ranking by Zillow as the third-hottest housing market in the U.S. as the Triangle continues to remain a top spot for real estate nationally, The N&O previously reported.
Zillow ranked Raleigh-Durham as No. 3 out of 50 U.S. metro areas for its heightened popularity and competitiveness among home buyers. A second North Carolina metro also made the top five, with Charlotte ranking fifth, according to the Zillow ranking released last month.
This past fall, a report by WRAL TechWire revealed that home foreclosures were up 150% in Durham County from the previous quarter, The N&O previously reported in October 2021.
This story was originally published February 1, 2022 at 2:01 PM.
