The Long & Foster Market Minute

Focus On: Johnston County Housing Market March 2021

Units Sold
526
Active Inventory
236
Median Sale Price
$274,900
Days On Market
32
Up 7%
Vs. Year Ago
Down -76%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -49%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 526 sold this month in Johnston County versus 440 last month, an increase of 20%. This month's total units sold was higher than at this time last year, an increase of 7% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 761 units or 76%. The total number of active inventory this March was 236 compared to 997 in March 2020. This month's total of 236 is lower than the previous month's total supply of available inventory of 311, a decrease of 24%.

Median Sale Price
Last March, the median sale price for Johnston County was $250,000. This March, the median sale price was $274,900, an increase of 10% or $24,900 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
467
Current Contracts
510
Sold Vs. List Price
100.9%
Months of Supply
0.4
Down -14%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Down -78%
Vs. Year Ago

Months of Supply
In March, there was 0.4 months of supply available in Johnston County, compared to 2.0 in March 2020. That is a decrease of 78% 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 467 homes newly listed for sale in Johnston County compared to 542 in March 2020, a decrease of 14%. There were 510 current contracts pending sale this March compared to 470 a year ago. The number of current contracts is 9% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Johnston County was 100.9% of the average list price, which is 1.5% higher than at this time last year.
Days on Market
This month, the average number of days on market was 32, lower than the average last year, which was 63, a decrease of 49%.
The Long & Foster Market Minute Johnston County are defined as properties listed in zip code/s .
*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.