The Long & Foster Market Minute

Focus On: Southampton County and Franklin City Housing Market June 2021

Units Sold
29
Active Inventory
34
Median Sale Price
$239,000
Days On Market
34
Up
Vs. Year Ago
Down -64%
Vs. Year Ago
Up
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in June, with 29 sold this month in Southampton County and Franklin City 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 60 units or 64%. The total number of active inventory this June was 34 compared to 94 in June 2020. This month's total of 34 is lower than the previous month's total supply of available inventory of 43, a decrease of 21%.

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 Southampton County and Franklin City Homes was $119,900. This June, the median sale price was $239,000, an increase of $119,100 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
44
Current Contracts
48
Sold Vs. List Price
101.2%
Months of Supply
1.2
Up 57%
Vs. Year Ago
Up 100%
Vs. Year Ago
Up 3.6%
Vs. Year Ago
Down -79%
Vs. Year Ago

Months of Supply
In June, there was 1.2 months of supply available in Southampton County and Franklin City, compared to 5.5 in June 2020. That is a decrease of 79% 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 44 homes newly listed for sale in Southampton County and Franklin City compared to 28 in June 2020, an increase of 57%. There were 48 current contracts pending sale this June compared to 24 a year ago. The number of current contracts is 100% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Southampton County and Franklin City was 101.2% of the average list price, which is 3.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 34, lower than the average last year, which was 83. This decrease was impacted by the limited number of sales.

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 REIN 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 REIN or Long & Foster Real Estate, Inc.