2015 was not very kind to luxury homes in Durham priced $1M+. The luxury market dragged behind the general market for most of the year but began to see a rise in the third quarter.
Ultimately, with interest rates beginning to rise and the economy improving we fully expect to see strong sales in 2016. Here were the top communities in Durham for homes sales at $1M+:
1. Hope Valley Country Club saw the highest number of million dollar transactions with four over the year. Located about 5 minutes from Duke University and Downtown Durham. Hope Valley benefits from the best location out of the other three communities written about in this blog. Additionally, like Croasdaile Farm and Treyburn, Hope Valley is also a first class golf course community.
2. Colvard Farms came in second with two homes closing in 2015. Colvard Farms is closer to Chapel Hill but is nestled perfectly in between UNC's campus and RDU Airport.
3. Croasdaile Farm and Treyburn both tied for third splitting one home each. Croasdaile Farm is located on the north side of Durham. This location benefits from being near Downtown Durham, Brier Creek (hot location in Raleigh), and RDU Airport. Treyburn, located at the top of North Durham, is only 15 minutes from Downtown Durham. Treyburn not only has incredible amenities to include a golf course, country club, and state of the art swimming pool, but homes in this community also sit on large acre lots starting at approximately 1 acre.