The Fonville Morisey Market Minute

Focus On: Southwest Durham Area Housing Market June 2021

Zip Code(s): 27707 and 27713
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 23%
Vs. Year Ago
Down -62%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -52%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 223 sold this month in Southwest Durham 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 124 units or 62%. The total number of active inventory this June was 75 compared to 199 in June 2020. This month's total of 75 is higher than the previous month's total supply of available inventory of 64, an increase of 17%.

Median Sale Price
Last June, the median sale price for Southwest Durham Area was $295,000. This June, the median sale price was $368,000, an increase of 25% or $73,000 compared to last year. The current median sold price is 9% 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
Up 1%
Vs. Year Ago
Down -6%
Vs. Year Ago
Vs. Year Ago
Down -69%
Vs. Year Ago

Months of Supply
In June, there was 0.3 months of supply available in Southwest Durham Area, compared to 1.1 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 184 homes newly listed for sale in Southwest Durham Area compared to 183 in June 2020, an increase of 1%. There were 168 current contracts pending sale this June compared to 179 a year ago. The number of current contracts is 6% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Southwest Durham Area was 106.6% 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 13, lower than the average last year, which was 27, a decrease of 52%.
 The Fonville Morisey Market Minute Southwest Durham Area are defined as properties listed in zip code/s 27707 and 27713.
*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.