Housing
According to The Herald Sun, more and more new homes priced above $350,000 are being sold in Durham, N.C. In 2005, the area saw a 69% jump from 2004 in the number of new homes sold above the $300,000.price range. The newspaper points to an increase in high-paying jobs at places like Duke University and the Research Triangle Park, an elevated cost for land, and rising residential price tags in nearby Chapel Hill as the reasons.
The average price of homes sold in Durham (YTD) for 2006 was $180,298. For the year ending Dec. 31, 2005 the average price was $181,162, up 5.9% from $171,105 for the year ending December 2004.