DURHAM- The median selling price of a home sold in County Durham was $400,000 in December 2021. That’s a 33.3% increase from December 2020, when the median selling price of a home was $300,000, according to the latest data from Triangle Multiple Listing Service, TMLS, which published the monthly reports late last week.
This 33.3% increase is the largest 12-month increase in median home sales values for any of the four counties for which TMLS publishes county-level reports, although each of the four counties saw an increase. monthly median home sale prices higher than 22% comparing December 2021 to December 2020. There were 547 properties sold in County Durham in December 2021, which is more than the 526 sold in December 2020, but the number new listings fell in 2021 compared to 2020, as only 340 new homes came on the market.
Also on the rise? Johnston County’s median home sale price has increased by 31.1%, as the median home sale price in December 2021 was $335,000, down from $255,450 the previous year, with 501 homes sold in December 2021. The Johnston County Economic Development Office recently launched an initiative in the stated goal of connecting talented workers living in Johnston County with area employers, as companies like Amazon, Berry Global, Bartlett Milling, and AdvanceTEC all added or expanded their operations in the county in 2021. According to Chris Johnson, director of the Johnston County Office of Economic Development, the county’s workforce grew 5.4% in 2021.
According to VTS report.
Wake County’s median home price hit a new high in November – $405,000
Wake County saw the highest median sale price in the four counties for which data is compiled in monthly reports by TMLS, with a median sale price of $425,000 in December 2021. That’s up from a median sale price of $346,100 the previous year, an increase of 22.8%.
In the Triangle, of the 4,089 homes sold in December 2021, the median sale price was $370,000, up 23.3% from December 2020, when the median home sold for $300,000 in 4 212 trades.
Report: Raleigh to be 3rd hottest real estate market, prices will climb 24%
The area could continue to see home value appreciation as a recent Zillow forecast predicted growth for the Raleigh Metropolitan Statistical Area, which is Wake, Johnston and Franklin counties, would be 24% between November 2021 and November 2022, even as the Federal Reserve looks set to raise interest rates, which could also indicate rising mortgage rates.
Over the calendar year and across the Triangle region, 2021 saw a 16.9% increase in the median sale price, up to $345,000 across 47,787 sale transactions, compared to $295,000 in 2020 out of 45,864.
In County Durham, the median selling price for all of 2021 was $349,187, up 20.4% from the median selling price in 2020 of $290,000. In Wake County, the median selling price in calendar year 2021 was $395,000, up 17.0% from the median selling price of $337,581 in 2020. Johnston, the median sale price increased 19% in 2021 compared to all of 2020, from $250,099 to $299,840. And, by this measure, median prices in Orange County have increased by 23.5%, with the median home price rising from $328,000 in 2020 to $405,072 in 2021.