Durham, a city in North Carolina, is experiencing a surge in million-dollar real estate deals, much like its neighboring areas of Raleigh, Cary, and Wake County. This trend has helped drive up average sale prices to new record levels. Let’s take a look at some of the latest high-end real estate transactions in Durham and the surrounding Orange Counties.
One of the recent sales involved a spacious condominium located at 112 Cedar Pond Lane in Durham. The 2,758-square-foot property, built in 2017, was sold for $1,500,000 on August 1, 2023. This amounts to an impressive $544 per square foot. The condo features two bedrooms, two baths, and includes a fireplace. It is equipped with heating and cooling systems, along with an attached garage.
Another notable sale was a house situated at 116 Galway Drive in Durham. This single-story dwelling spans 3,652 square feet and was built in 1994. The property changed hands on September 26, 2023, for a purchase price of $1,050,000, or $288 per square foot. With four bedrooms and four bathrooms, this house offers a generous living space. The home’s exterior boasts asphalt roofing materials, adding to its appeal. Inside, a fireplace enhances the ambiance of the living area. The property also includes a heating and cooling system, as well as an attached two-car garage.
In addition to these sales, there have been other notable transactions in Chapel Hill, a neighboring city to Durham. For instance, a 6,219-square-foot home on Nottingham Drive was sold in June 2023 for $2,155,000, at a price per square foot of $347. This property features four bedrooms and six bathrooms. Similarly, a 4,952-square-foot home on New Castle Drive in Chapel Hill was sold in June 2023 for $1,600,000, translating to a price per square foot of $323. This home offers three bedrooms and four bathrooms. Another sale involved a 4,371-square-foot home at 329 Nottingham Drive in Chapel Hill, which was sold in May 2023 for $2,350,000, or $538 per square foot. This residence boasts four bedrooms and five bathrooms.
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The surge in million-dollar real estate deals in Durham and Chapel Hill is indicative of the strong housing market in the region. Buyers are willing to invest significant amounts in properties that offer luxurious living spaces and desirable amenities. As the trend continues, we can expect the average sale prices in these areas to keep rising. Whether you’re in the market to buy or just interested in the local real estate scene, it’s worth keeping an eye on these high-end transactions.