Inside Durham’s Bullish Market: Why Luxury Buyers Are Quietly Flocking to Former Tobacco Capital of the World

After spending 36 years in rural Virginia, Michael and Jane Lyon were ready for a big change. Armed with a low seven-figure budget, the couple set their sights on a vibrant, walkable city for their retirement. They chose Durham, NC, bypassing the usual ."We were looking for amenity-rich cities," Michael tells Realtor.com®. "We were looking for good healthcare, we were looking for restaurants, entertainment, museums. Durham offers all of that."The Lyons conducted extensive research and initially considered larger regional hubs such as Raleigh, NC, but they were put off by the suburban sprawl and heavy traffic.When the couple learned of a new luxury high-rise tower, The Novus, under development in the heart of downtown Durham, they jumped at the chance to purchase their next home—four years before the building was finished.For Michael and Jane, their new $1.8 million two-bedroom, 2.5-bathroom, 2,300-square-foot condo equipped with high-end finishes and smart home technology was worth the wait."l feel like I live on a cruise ship," says Michael. "It's that level of amenities."The 27-floor high-rise made up of 54 condos and 188 rental units features a resort-style swimming pool heated ...