The Long & Foster Market Minute

Focus On: Mecklenburg County Housing Market June 2021

Units Sold
14
Active Inventory
27
Median Sale Price
$362,500
Days On Market
112
Up
Vs. Year Ago
Down -41%
Vs. Year Ago
Up
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in June, with 14 sold this month in Mecklenburg County Real Estate. This month's total units sold was higher than at this time last year, an increase from June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 41%. The total number of active inventory this June was 27 compared to 46 in June 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last June, the median sale price for Mecklenburg County Homes was $247,000. This June, the median sale price was $362,500, an increase of $115,500 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
27
Current Contracts
24
Sold Vs. List Price
101.5%
Months of Supply
1.9
Up 108%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up
Vs. Year Ago
Down -54%
Vs. Year Ago

Months of Supply
In June, there was 1.9 months of supply available in Mecklenburg County, compared to 4.2 in June 2020. That is a decrease of 54% 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 27 homes newly listed for sale in Mecklenburg County compared to 13 in June 2020, an increase of 108%. There were 24 current contracts pending sale this June compared to 20 a year ago. The number of current contracts is 20% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Mecklenburg County was 101.5% 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 112, lower than the average last year, which was 133, a decrease of 16%.

The Long & Foster Market Minute
*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 RVLG 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 RVLG or Long & Foster Real Estate, Inc.