The Long & Foster Market Minute

Focus On: Willow Spring, Benson, and Four Oaks Area Housing Market March 2021

Zip Code(s): 27592, 27504 and 27524
Units Sold
82
Active Inventory
83
Median Sale Price
$274,700
Days On Market
60
Up 26%
Vs. Year Ago
Down -59%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 82 sold this month in Willow Spring, Benson, and Four Oaks Area versus 76 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 26% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 120 units or 59%. The total number of active inventory this March was 83 compared to 203 in March 2020. This month's total of 83 is lower than the previous month's total supply of available inventory of 91, a decrease of 9%.

Median Sale Price
Last March, the median sale price for Willow Spring, Benson, and Four Oaks Area was $250,000. This March, the median sale price was approximately the same at $274,700. The current median sold price is 10% higher than in March 2020.

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


New Listings
121
Current Contracts
112
Sold Vs. List Price
100.5%
Months of Supply
1.0
Up 42%
Vs. Year Ago
Up 56%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Down -68%
Vs. Year Ago

Months of Supply
In March, there was 1.0 months of supply available in Willow Spring, Benson, and Four Oaks Area, compared to 3.1 in March 2020. That is a decrease of 68% 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 121 homes newly listed for sale in Willow Spring, Benson, and Four Oaks Area compared to 85 in March 2020, an increase of 42%. There were 112 current contracts pending sale this March compared to 72 a year ago. The number of current contracts is 56% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Willow Spring, Benson, and Four Oaks Area was 100.5% of the average list price, which is 1.4% higher than at this time last year.
Days on Market
This month, the average number of days on market was 60, lower than the average last year, which was 97, a decrease of 38%.
The Long & Foster Market Minute Willow Spring, Benson, and Four Oaks Area are defined as properties listed in zip code/s 27592, 27504 and 27524.
*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.