The Fonville Morisey Market Minute

Focus On: West Chapel Hill and Carrboro Area Housing Market June 2021

Zip Code(s): 27516 and 27510
Units Sold
127
Active Inventory
55
Median Sale Price
$535,000
Days On Market
11
Up 22%
Vs. Year Ago
Down -63%
Vs. Year Ago
Up 20%
Vs. Year Ago
Down -71%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 127 sold this month in West Chapel Hill and Carrboro 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 93 units or 63%. The total number of active inventory this June was 55 compared to 148 in June 2020. This month's total of 55 is higher than the previous month's total supply of available inventory of 50, an increase of 10%.

Median Sale Price
Last June, the median sale price for West Chapel Hill and Carrboro Area was $447,475. This June, the median sale price was $535,000, an increase of 20% or $87,525 compared to last year. The current median sold price is 8% 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
108
Current Contracts
100
Sold Vs. List Price
105.0%
Months of Supply
0.4
Up 14%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up
Vs. Year Ago
Down -70%
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in West Chapel Hill and Carrboro 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 108 homes newly listed for sale in West Chapel Hill and Carrboro Area compared to 95 in June 2020, an increase of 14%. There were 100 current contracts pending sale this June compared to 97 a year ago. The number of current contracts is 3% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in West Chapel Hill and Carrboro Area was 105.0% 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 11, lower than the average last year, which was 38, a decrease of 71%.
 The Fonville Morisey Market Minute West Chapel Hill and Carrboro Area are defined as properties listed in zip code/s 27516 and 27510.
*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.