The Long & Foster Market Minute

Focus On: Smithfield, Selma, and Eastern Johnston County Area Housing Market March 2021

Zip Code(s): 27577, 27576, 27569 and 27542
Units Sold
96
Active Inventory
52
Median Sale Price
$244,950
Days On Market
37
Up
Vs. Year Ago
Down -72%
Vs. Year Ago
Up
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 96 sold this month in Smithfield, Selma, and Eastern Johnston County 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 131 units or 72%. The total number of active inventory this March was 52 compared to 183 in March 2020. This month's total of 52 is lower than the previous month's total supply of available inventory of 83, a decrease of 37%.

Median Sale Price
Last March, the median sale price for Smithfield, Selma, and Eastern Johnston County Area was $175,000. This March, the median sale price was $244,950, an increase of $69,950 compared to last year. The current median sold price is higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
79
Current Contracts
104
Sold Vs. List Price
100.1%
Months of Supply
0.5
Down -27%
Vs. Year Ago
Up 63%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -84%
Vs. Year Ago

Months of Supply
In March, there was 0.5 months of supply available in Smithfield, Selma, and Eastern Johnston County Area, compared to 3.5 in March 2020. That is a decrease of 84% 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 79 homes newly listed for sale in Smithfield, Selma, and Eastern Johnston County Area compared to 108 in March 2020, a decrease of 27%. There were 104 current contracts pending sale this March compared to 64 a year ago. The number of current contracts is 63% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Smithfield, Selma, and Eastern Johnston County Area was 100.1% of the average list price, which is 0.9% higher than at this time last year.
Days on Market
This month, the average number of days on market was 37, lower than the average last year, which was 43, a decrease of 14%.
The Long & Foster Market Minute Smithfield, Selma, and Eastern Johnston County Area are defined as properties listed in zip code/s 27577, 27576, 27569 and 27542.
*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.