The Durham Luxury Real Estate Market

As part of my real estate practice I have created another blog devoted to upscale homes sales in Durham. The market for high end real estate in Durham has been flat for a number of year. Sales over $700,000 have averaged about 32 per year and typically about 75 or 80 homes in that price range are on the market. This means that there is usually twice as many...or more...homes for sale than the market can absorb in a year. This is not good news for someone wanting to sell one of these homes. On the blog, www.DurhamLuxRE.com a report is available called The Durham Luxury Real Estate Market 2008 that suggests a number of strategies that must be adopted to solve this problem. The first involves attracting more of the luxury home buyers coming to the Triangle. Currently Durham only gets about 5%. The second strategy is to do more sophisticated marketing for the homes that are on the market.