The Fonville Morisey Market Minute

Focus On: Central Durham Area Housing Market June 2021

Zip Code(s): 27701 and 27705
Units Sold
98
Active Inventory
97
Median Sale Price
$375,500
Days On Market
14
Up 23%
Vs. Year Ago
Down -51%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -56%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 98 sold this month in Central Durham Area . 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 99 units or 51%. The total number of active inventory this June was 97 compared to 196 in June 2020. This month's total of 97 is higher than the previous month's total supply of available inventory of 90, an increase of 8%.

Median Sale Price
Last June, the median sale price for Central Durham Area was $355,000. This June, the median sale price was $375,500, an increase of 6% or $20,500 compared to last year. The current median sold price is 6% lower than in May.

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


New Listings
118
Current Contracts
97
Sold Vs. List Price
105.0%
Months of Supply
1.0
Up 28%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up
Vs. Year Ago
Down -60%
Vs. Year Ago

Months of Supply
In June, there was 1.0 months of supply available in Central Durham Area, compared to 2.5 in June 2020. That is a decrease of 60% 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 118 homes newly listed for sale in Central Durham Area compared to 92 in June 2020, an increase of 28%. There were 97 current contracts pending sale this June compared to 88 a year ago. The number of current contracts is 10% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Central Durham Area was 105.0% of the average list price, which is higher than at this time last year.
Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 32, a decrease of 56%.
 The Fonville Morisey Market Minute Central Durham Area are defined as properties listed in zip code/s 27701 and 27705.
*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.