The Fonville Morisey Market Minute

Focus On: East Chapel Hill Area Housing Market June 2021

Zip Code(s): 27514 and 27517
Units Sold
128
Active Inventory
67
Median Sale Price
$602,500
Days On Market
20
Up
Vs. Year Ago
Down -72%
Vs. Year Ago
Up
Vs. Year Ago
Down -68%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 128 sold this month in East Chapel Hill 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 175 units or 72%. The total number of active inventory this June was 67 compared to 242 in June 2020. This month's total of 67 is lower than the previous month's total supply of available inventory of 73, a decrease of 8%.

Median Sale Price
Last June, the median sale price for East Chapel Hill Area was $425,000. This June, the median sale price was $602,500, an increase of $177,500 compared to last year. The current median sold price is 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
99
Current Contracts
97
Sold Vs. List Price
102.9%
Months of Supply
0.5
Down -4%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 4.7%
Vs. Year Ago
Down -81%
Vs. Year Ago

Months of Supply
In June, there was 0.5 months of supply available in East Chapel Hill Area, compared to 2.8 in June 2020. That is a decrease of 81% 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 East Chapel Hill Area compared to 103 in June 2020, a decrease of 4%. There were 97 current contracts pending sale this June compared to 99 a year ago. The number of current contracts is 2% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in East Chapel Hill Area was 102.9% of the average list price, which is 4.6% higher than at this time last year.
Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 63, a decrease of 68%.
 The Fonville Morisey Market Minute East Chapel Hill Area are defined as properties listed in zip code/s 27514 and 27517.
*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.