The Fonville Morisey Market Minute

Focus On: Durham County Housing Market June 2021

Units Sold
629
Active Inventory
256
Median Sale Price
$351,487
Days On Market
14
Up 19%
Vs. Year Ago
Down -66%
Vs. Year Ago
Up 21%
Vs. Year Ago
Down -50%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 629 sold this month in Durham County . 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 495 units or 66%. The total number of active inventory this June was 256 compared to 751 in June 2020. This month's total of 256 is lower than the previous month's total supply of available inventory of 271, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Durham County was $289,950. This June, the median sale price was $351,487, an increase of 21% or $61,537 compared to last year. The current median sold price is 3% higher 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
588
Current Contracts
557
Sold Vs. List Price
105.9%
Months of Supply
0.4
Up 1%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up
Vs. Year Ago
Down -71%
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in Durham County, compared to 1.4 in June 2020. That is a decrease of 71% 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 588 homes newly listed for sale in Durham County compared to 580 in June 2020, an increase of 1%. There were 557 current contracts pending sale this June compared to 601 a year ago. The number of current contracts is 7% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Durham County was 105.9% 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 28, a decrease of 50%.
 The Fonville Morisey Market Minute Durham 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.