The Long & Foster Market Minute

Focus On: Davie County Housing Market March 2021

Units Sold
53
Active Inventory
60
Median Sale Price
$210,000
Days On Market
22
Up 6%
Vs. Year Ago
Down -62%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -58%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 53 sold this month in Davie County Real Estate versus 45 last month, an increase of 18%. This month's total units sold was higher than at this time last year, an increase of 6% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 98 units or 62%. The total number of active inventory this March was 60 compared to 158 in March 2020. This month's total of 60 is higher than the previous month's total supply of available inventory of 55, an increase of 9%.

Median Sale Price
Last March, the median sale price for Davie County Homes was $235,500. This March, the median sale price was $210,000, a decrease of 11% or $25,500 compared to last year. The current median sold price is 24% 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
99
Current Contracts
50
Sold Vs. List Price
98.8%
Months of Supply
1.1
Up 32%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Down -64%
Vs. Year Ago

Months of Supply
In March, there was 1.1 months of supply available in Davie County, compared to 3.2 in March 2020. That is a decrease of 64% 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 99 homes newly listed for sale in Davie County compared to 75 in March 2020, an increase of 32%. There were 50 current contracts pending sale this March compared to 53 a year ago. The number of current contracts is 6% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Davie County was 98.8% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 53, a decrease of 58%.

The Long & Foster Market Minute
*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 TRIAD 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 TRIAD or Long & Foster Real Estate, Inc.