The Fonville Morisey Market Minute

Focus On: Fuquay Varina Area Housing Market June 2021

Zip Code(s): 27526
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -12%
Vs. Year Ago
Down -75%
Vs. Year Ago
Vs. Year Ago
Down -59%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 179 sold this month in Fuquay Varina Area versus 168 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 12% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 199 units or 75%. The total number of active inventory this June was 68 compared to 267 in June 2020. This month's total of 68 is lower than the previous month's total supply of available inventory of 69, a decrease of 1%.

Median Sale Price
Last June, the median sale price for Fuquay Varina Area was $285,000. This June, the median sale price was $391,605, an increase of $106,605 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -20%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -71%
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in Fuquay Varina Area, compared to 1.3 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 143 homes newly listed for sale in Fuquay Varina Area compared to 179 in June 2020, a decrease of 20%. There were 141 current contracts pending sale this June compared to 183 a year ago. The number of current contracts is 23% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Fuquay Varina Area was 104.2% of the average list price, which is 4.9% 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 49, a decrease of 59%.
 The Fonville Morisey Market Minute Fuquay Varina Area are defined as properties listed in zip code/s 27526.
*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.