The Fonville Morisey Market Minute

Focus On: Willow Spring, Benson, and Four Oaks Area Housing Market June 2021

Zip Code(s): 27592, 27504 and 27524
Units Sold
96
Active Inventory
68
Median Sale Price
$330,000
Days On Market
24
Down -2%
Vs. Year Ago
Down -54%
Vs. Year Ago
Up 33%
Vs. Year Ago
Down -59%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 96 sold this month in Willow Spring, Benson, and Four Oaks Area versus 79 last month, an increase of 22%. This month's total units sold was lower than at this time last year, a decrease of 2% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 79 units or 54%. The total number of active inventory this June was 68 compared to 147 in June 2020. This month's total of 68 is higher than the previous month's total supply of available inventory of 53, an increase of 28%.

Median Sale Price
Last June, the median sale price for Willow Spring, Benson, and Four Oaks Area was $247,800. This June, the median sale price was $330,000, an increase of $82,200 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
118
Current Contracts
97
Sold Vs. List Price
103.3%
Months of Supply
0.7
Up 57%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -53%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Willow Spring, Benson, and Four Oaks Area, compared to 1.5 in June 2020. That is a decrease of 53% 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 118 homes newly listed for sale in Willow Spring, Benson, and Four Oaks Area compared to 75 in June 2020, an increase of 57%. There were 97 current contracts pending sale this June compared to 94 a year ago. The number of current contracts remained stable as compared to last June.

Sale Price to List Price Ratio
In June, the average sale price in Willow Spring, Benson, and Four Oaks Area was 103.3% of the average list price, which is 3.4% higher than at this time last year.
Days on Market
This month, the average number of days on market was 24, lower than the average last year, which was 59, a decrease of 59%.
 The Fonville Morisey Market Minute Willow Spring, Benson, and Four Oaks Area are defined as properties listed in zip code/s 27592, 27504 and 27524.
*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.