Durham is a city in the U.S. state of North Carolina. It is the county seat of Durham County. The U.S. Census Bureau estimated the city's population to be 251,893 as of July 1, 2014, making it the 4th-most populous city in North Carolina, and the 78th-most populous city in the United States. Durham is the core of the four-county Durham-Chapel Hill Metropolitan Area, which has a population of 542,710 as of U.S. Census 2014 Population Estimates. The US Office of Management and Budget also includes Durham as a part of the Raleigh-Durham-Chapel Hill Combined Statistical Area, which has a population of 2,037,430 as of U.S. Census 2014 Population Estimates.
It is the home of Duke University and North Carolina Central University, and is also one of the vertices of the Research Triangle area (home of the Research Triangle Park).
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Durham-Chapel Hill, North Carolina. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!
The national average total real estate commission in 2015 was 5.26% *
In Durham-Chapel Hill, North Carolina, you will find the following real estate commissions charged*:
Typical Asking Commission: 6.0%
Competitive Commission: 5.0%-5.5%%
Very Competitive Commission: 4.5%-4.99%
The median existing single-family home price in the South rose 6.7%, to $229,400, in the second quarter of 2017 compared to the the second quarter of 2016. Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:
In the State of North Carolina, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
|Myrtle Beach-Conway-North Myrtle Beach||$206,300||5.60%|
|Virginia Beach-Norfolk-Newport News||$239,900||7.60%|
Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).
In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent. Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”. This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client. This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).
When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.
At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in North Carolina.
Sellers who are also buying a home in the same local market have a volume discount advantage. ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home. Be sure to check the box that you are also buying a home locally to receive these better rates.
Click here to see your savings in just 24 hours…
As of the 2010 census, there were 228,330 people, 93,441 households, and 52,409 families residing in the city. The population density was 2,406.0 people per square mile (928.9/km²). There were 103,221 housing units at an average density of 1,087.7 per square mile (419.9/km²). The racial composition of the city was: 42.45% White, 40.96% Black or African American, 5.07% Asian American, 0.51% Native American, 0.07% Native Hawaiian or Other Pacific Islander, 8.28% some other race, and 2.66% two or more races; 14.22% were Hispanic or Latino of any race. Non-Hispanic White comprised 37.9% of the population.
Durham's population, as of July 1, 2014 and according to the 2014 US census data estimate, has grown to 251,893 making it the 46th fastest growing city in the US, and the 2nd fastest growing city in North Carolina behind Cary but ahead of Charlotte, Raleigh and Greensboro.
There were 93,441 households out of which 27.5% had children under the age of 18 living with them, 36.2% were married couples living together, 15.5% had a female householder with no husband present, and 43.9% were non-families. 33.7% of all households were made up of individuals and 7.0% had someone living alone who was 65 years of age or older. The average household size was 2.34, and the average family size was 3.04.
In the city, the population was spread out with 22.7% under the age of 18, 14.1% from 18 to 24, 33.6% from 25 to 44, 21.8% from 45 to 64, and 8.9% who were 65 years of age or older. The median age was 32.1 years. For every 100 females there were 92.5 males. For every 100 females age 18 and over, there were 86.9 males.
The median income for a household in the city was $47,394, and the median income for a family was $60,157. Males had a median income of $35,202 versus $30,359 for females. The per capita income for the city was $27,156. About 13.1% of families and 18.6% of the population were below the poverty line, including 24.3% of those under age 18 and 10.1% of those age 65 or over.
Duke University and Duke University Health System are Durham's largest employers. Below is a list of Durham's largest employers.
|Employer||No. of employees|
|Duke University & Duke Univ. Health System||34,863|
|Durham Public Schools||4,600|
|Blue Cross & Blue Shield of NC||3,200|
|City of Durham||2,437|
|Durham VA Medical Center||2,162|
|AW North Carolina||2,000|