The Fonville Morisey Market Minute

Focus On: Youngsville and Franklinton Area Housing Market June 2021

Zip Code(s): 27596 and 27525
Units Sold
106
Active Inventory
54
Median Sale Price
$307,685
Days On Market
12
Up 3%
Vs. Year Ago
Down -71%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -85%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 106 sold this month in Youngsville and Franklinton Area versus 103 last month, an increase of 3%. This month's total units sold was higher than at this time last year, an increase of 3% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 130 units or 71%. The total number of active inventory this June was 54 compared to 184 in June 2020. This month's total of 54 is higher than the previous month's total supply of available inventory of 45, an increase of 20%.

Median Sale Price
Last June, the median sale price for Youngsville and Franklinton Area was $276,500. This June, the median sale price was $307,685, an increase of 11% or $31,185 compared to last year. The current median sold price is 1% lower 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
121
Current Contracts
109
Sold Vs. List Price
103.1%
Months of Supply
0.5
Up 8%
Vs. Year Ago
No Change
Vs. Year Ago
Up 3.6%
Vs. Year Ago
Down -72%
Vs. Year Ago

Months of Supply
In June, there was 0.5 months of supply available in Youngsville and Franklinton Area, compared to 1.8 in June 2020. That is a decrease of 71% 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 121 homes newly listed for sale in Youngsville and Franklinton Area compared to 112 in June 2020, an increase of 8%. There were 109 current contracts pending sale this June, consistent with the volume a year ago. The number of current contracts is 2% lower than last month.

Sale Price to List Price Ratio
In June, the average sale price in Youngsville and Franklinton Area was 103.1% of the average list price, which is 3.6% higher than at this time last year.
Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 79, a decrease of 85%.
 The Fonville Morisey Market Minute Youngsville and Franklinton Area are defined as properties listed in zip code/s 27596 and 27525.
*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.