The Fonville Morisey Market Minute

Focus On: Raleigh Area Housing Market June 2021

Zip Code(s): 27601, 27603, 27604, 27605, 27606, 27607, 27608, 27609, 27610, 27612, 27613, 27614, 27615, 27616 and 27617
Units Sold
1,038
Active Inventory
444
Median Sale Price
$385,000
Days On Market
16
Up 23%
Vs. Year Ago
Down -63%
Vs. Year Ago
Up 28%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 1,038 sold this month in Raleigh Area versus 904 last month, an increase of 15%. This month's total units sold was higher than at this time last year, an increase of 23% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 742 units or 63%. The total number of active inventory this June was 444 compared to 1,186 in June 2020. This month's total of 444 is lower than the previous month's total supply of available inventory of 470, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Raleigh Area was $299,900. This June, the median sale price was $385,000, an increase of $85,100 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
921
Current Contracts
865
Sold Vs. List Price
103.9%
Months of Supply
0.4
Down -4%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 4.8%
Vs. Year Ago
Down -70%
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in Raleigh Area, compared to 1.4 in June 2020. That is a decrease of 70% 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 921 homes newly listed for sale in Raleigh Area compared to 961 in June 2020, a decrease of 4%. There were 865 current contracts pending sale this June compared to 984 a year ago. The number of current contracts is 12% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Raleigh Area was 103.9% of the average list price, which is 4.8% higher than at this time last year.
Days on Market
This month, the average number of days on market was 16, lower than the average last year, which was 30, a decrease of 47%.
 The Fonville Morisey Market Minute Raleigh Area are defined as properties listed in zip code/s 27601, 27603, 27604, 27605, 27606, 27607, 27608, 27609, 27610, 27612, 27613, 27614, 27615, 27616 and 27617.
*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.