The Long & Foster Market Minute

Focus On: Garner Area Housing Market March 2021

Zip Code(s): 27529
Units Sold
105
Active Inventory
43
Median Sale Price
$300,725
Days On Market
25
Up 4%
Vs. Year Ago
Down -79%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -57%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 105 sold this month in Garner Area versus 80 last month, an increase of 31%. This month's total units sold was higher than at this time last year, an increase of 4% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 159 units or 79%. The total number of active inventory this March was 43 compared to 202 in March 2020. This month's total of 43 is lower than the previous month's total supply of available inventory of 69, a decrease of 38%.

Median Sale Price
Last March, the median sale price for Garner Area was $274,900. This March, the median sale price was $300,725, an increase of 9% or $25,825 compared to last year. The current median sold price is 2% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
105
Current Contracts
125
Sold Vs. List Price
101.8%
Months of Supply
0.4
Down -26%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 2.1%
Vs. Year Ago
Down -80%
Vs. Year Ago

Months of Supply
In March, there was 0.4 months of supply available in Garner Area, compared to 2.0 in March 2020. That is a decrease of 80% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 105 homes newly listed for sale in Garner Area compared to 142 in March 2020, a decrease of 26%. There were 125 current contracts pending sale this March compared to 120 a year ago. The number of current contracts is 4% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Garner Area was 101.8% of the average list price, which is 2.1% higher than at this time last year.
Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 58, a decrease of 57%.
The Long & Foster Market Minute Garner Area are defined as properties listed in zip code/s 27529.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by TRIANGLE and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TRIANGLE or Long & Foster Real Estate, Inc.