A decade ago, most people may have been able to tell you that Durham was the industrial feeling next-door neighbor to Raleigh and Chapel Hill, but not much else. Since then, however, Durham has undergone an amazing transformation that is drawing people into the community and staying in gear to continue the residential and commercial growth of this once industrial area.
Last week, the Wall Street Journal ranked the top 10 best and worst cities for real estate investing, and Durham was ranked the best market in the nation! This ranking was based on a number of factors that impact lifestyle and a city’s ability to grow, and Durham exhibited a strong presence in each category. The area is central to North Carolina’s Research Triangle, just a stone’s throw from Duke, UNC-Chapel Hill, N.C. State and mere hours from Elon and Wake Forest University.
About 40% of the jobs in the area come from health, education, government and other stable job industries, and large companies like GlaxoSmithKline and IBM provide the manpower to keep the city at equilibrium. On the real estate front, home-sales have increased 13% as compared to this same point last year, and home prices in the area are not in-flux like many U.S. cities.
Massive renovations like that of Brightleaf Square and the American Tobacco District are just another reason people are falling in love with and settling in Durham, whether young professionals or families! This creative space is a revitalization of turn-of-the-century tobacco warehouses that have been converted into a redesigned, landscaped area for retail and restaurants alike.
Want to explore what Durham or North Carolina’s Triangle area has to offer? We’d love to show you the exciting options this real estate friendly area has in store for you! Drop us a note and we’ll help get you started on your path to buying or selling a home in Durham.