The Fonville Morisey Market Minute

Focus On: North Raleigh/ Falls Area Housing Market June 2021

Zip Code(s): 27614 and 27615
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 33%
Vs. Year Ago
Down -67%
Vs. Year Ago
Up 23%
Vs. Year Ago
Down -73%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 182 sold this month in North Raleigh/ Falls Area versus 157 last month, an increase of 16%. This month's total units sold was higher than at this time last year, an increase of 33% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 151 units or 67%. The total number of active inventory this June was 73 compared to 224 in June 2020. This month's total of 73 is higher than the previous month's total supply of available inventory of 67, an increase of 9%.

Median Sale Price
Last June, the median sale price for North Raleigh/ Falls Area was $381,000. This June, the median sale price was $467,500, an increase of 23% or $86,500 compared to last year. The current median sold price is 2% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 1%
Vs. Year Ago
Down -16%
Vs. Year Ago
Vs. Year Ago
Down -76%
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in North Raleigh/ Falls Area, compared to 1.6 in June 2020. That is a decrease of 75% 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 158 homes newly listed for sale in North Raleigh/ Falls Area compared to 157 in June 2020, an increase of 1%. There were 145 current contracts pending sale this June compared to 173 a year ago. The number of current contracts is 16% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in North Raleigh/ Falls Area was 104.0% 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 10, lower than the average last year, which was 37, a decrease of 73%.
 The Fonville Morisey Market Minute North Raleigh/ Falls Area are defined as properties listed in zip code/s 27614 and 27615.
*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.