If you are a real estate investor or looking for a home, North Carolina is a wonderful choice. Durham NC specifically is a great place to call home, and it is also a fantastic vacation spot. As you get to know the Durham real estate market a little better, you are going to have fun browsing listings. Let’s see what you can expect as you look at Durham NC homes for sale.
The median sales price right now is 225,000 dollars. That comes out to about $127 a square foot on average. As for the median rent per month, which is always good to know, too, it is at around 1,395 dollars. That seems a little higher than I would have expected for a city whose median sales price is $225k. However, that signals one thing right there for both homeowners and property investors. First, it appears that homes are undervalued. Second, it appears that investors can expect a solid ROI through rental income.
What’s also interesting is looking further into the charts to see the trends. Median sales prices dipped a few months back and subsequently have been on the rise. At the same time, and during the dip mind you, average rental rates went up. That is impressive, and in my opinion, about as good as it gets in terms of the investment outlook for real estate in Durham NC. Do you need any more convincing?
If I were a property investor, I would be heavily looking into Durham after reading this article. Those are some solid numbers. I would expect to see Durham property values closer to $300k on average in the next several years, and I would expect rental income to keep rising. Making good money while your property increases in value is what it’s all about to a property investor. Of course, I’m not an expert, so it’s up to you and what you think about the health of the real estate market in Bull City.
Almost any place in North Carolina represents a great investment. Find the right property or properties for you, and then you can start working on moving in or renting them out. You wouldn’t think you would have much of a problem finding a renter in a place as beautiful as Durham, North Carolina. You didn’t expect such a screaming buy on this investment opportunity, did you? That’s North Carolina for you.