The Fonville Morisey Market Minute

Focus On: Raleigh/ Inside the Beltline Area Housing Market June 2021

Zip Code(s): 27601, 27603, 27605, 27606, 27608 and 27612
Units Sold
327
Active Inventory
179
Median Sale Price
$415,071
Days On Market
22
Up
Vs. Year Ago
Down -57%
Vs. Year Ago
Up
Vs. Year Ago
Down -31%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 327 sold this month in Raleigh/ Inside the Beltline 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 238 units or 57%. The total number of active inventory this June was 179 compared to 417 in June 2020. This month's total of 179 is lower than the previous month's total supply of available inventory of 196, a decrease of 9%.

Median Sale Price
Last June, the median sale price for Raleigh/ Inside the Beltline Area was $305,000. This June, the median sale price was $415,071, an increase of $110,071 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
301
Current Contracts
272
Sold Vs. List Price
103.1%
Months of Supply
0.5
Up 2%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 4.3%
Vs. Year Ago
Down -69%
Vs. Year Ago

Months of Supply
In June, there was 0.5 months of supply available in Raleigh/ Inside the Beltline Area, compared to 1.8 in June 2020. That is a decrease of 69% 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 301 homes newly listed for sale in Raleigh/ Inside the Beltline Area compared to 296 in June 2020, an increase of 2%. There were 272 current contracts pending sale this June compared to 292 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 Raleigh/ Inside the Beltline Area was 103.1% of the average list price, which is 4.3% 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 32, a decrease of 31%.
 The Fonville Morisey Market Minute Raleigh/ Inside the Beltline Area are defined as properties listed in zip code/s 27601, 27603, 27605, 27606, 27608 and 27612.
*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.