The Long & Foster Market Minute

Focus On: Triangle Housing Market June 2021

Zip Code(s): 22172
Units Sold
15
Active Inventory
11
Median Sale Price
$630,000
Days On Market
6
Up 25%
Vs. Year Ago
Down -39%
Vs. Year Ago
Up
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 15 sold this month in Triangle Real Estate versus 13 last month, an increase of 15%. This month's total units sold was higher than at this time last year, an increase of 25% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 39%. The total number of active inventory this June was 11 compared to 18 in June 2020. This month's total of 11 is higher than the previous month's total supply of available inventory of 9, an increase of 22%.

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 Triangle Homes was $419,950. This June, the median sale price was $630,000, an increase of $210,050 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
18
Current Contracts
13
Sold Vs. List Price
102.2%
Months of Supply
0.7
Down -18%
Vs. Year Ago
Down -50%
Vs. Year Ago
Up 3.6%
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Triangle, compared to 1.5 in June 2020. That is a decrease of 51% 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 18 homes newly listed for sale in Triangle compared to 22 in June 2020, a decrease of 18%. There were 13 current contracts pending sale this June compared to 26 a year ago. The number of current contracts is 50% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Triangle was 102.2% 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 6, lower than the average last year, which was 41. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Triangle are defined as properties listed in zip code/s 22172.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.