Local News

$3.5M condo up for sale in downtown Durham

Posted October 21, 2021 2:01 p.m. EDT
Updated October 21, 2021 3:19 p.m. EDT

— Finding the perfect place to live can be a struggle no matter what your budget, but if you're looking somewhere in the $3 million range, Urban Durham Realty might have a place for you.

Measuring at 3,755 square feet, the $3,479,900 condo is available for sale at a new building on West Main Street in downtown Durham.

Called The Novus, the new high-rise building is going to include a number of condos overlooking the city.

Floorplan shows layout of $3.5M condo in Durham

The 3 bed, 3 and a half bath condo will feature "open concept space and full length glass [to] maximize the southern exposure of this unit," according to Zillow.

A variety of luxury amenities including a pool, pickleball court, gym, outdoor theater and golf simulator are also featured in the listing for The Novus.

If $3.5 million is a little steep, there are other units available in The Novus coming in just under $2 million each.

The sticker shock on the condo may not be surprising given the major housing supply issue in the Triangle, driving up prices in the region.

Even renters, in this climate, are having issues securing housing with the average rent in Durham increasing by 22% in 2021, with the average monthly rent at $1365 according to data from Apartment List.

To put that into perspective, Zillow estimates the monthly mortage cost for the condo to be $18,005 a month, enough money to make the monthly payment on 13 apartments around Durham, even as the rent spikes, and still have money left over.

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