The Long & Foster Market Minute

Focus On: Central Cary Housing Market March 2021

Zip Code(s): 27511
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 13%
Vs. Year Ago
Down -66%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 148%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 44 sold this month in Central Cary . This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 46 units or 66%. The total number of active inventory this March was 24 compared to 70 in March 2020. This month's total of 24 is lower than the previous month's total supply of available inventory of 31, a decrease of 23%.

Median Sale Price
Last March, the median sale price for Central Cary was $321,000. This March, the median sale price was $345,000, an increase of 7% or $24,000 compared to last year. The current median sold price is 3% lower 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -5%
Vs. Year Ago
Up 34%
Vs. Year Ago
Up 3.5%
Vs. Year Ago
Down -69%
Vs. Year Ago

Months of Supply
In March, there was 0.5 months of supply available in Central Cary, compared to 1.8 in March 2020. That is a decrease of 70% 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 56 homes newly listed for sale in Central Cary compared to 59 in March 2020, a decrease of 5%. There were 59 current contracts pending sale this March compared to 44 a year ago. The number of current contracts is 34% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Central Cary was 103.6% of the average list price, which is 3.5% higher than at this time last year.
Days on Market
This month, the average number of days on market was 52, higher than the average last year, which was 21, an increase of 148%.
The Long & Foster Market Minute Central Cary are defined as properties listed in zip code/s 27511.
*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.