The Fonville Morisey Market Minute

Focus On: Apex Area Housing Market May 2022

Zip Code(s): 27502, 27539, 27523 and 27562
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -1%
Vs. Year Ago
Up 109%
Vs. Year Ago
Up 28%
Vs. Year Ago
Up 18%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 207 sold this month in Apex Area . This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 74 units or 109%. The total number of active inventory this May was 142 compared to 68 in May 2021. This month's total of 142 is higher than the previous month's total supply of available inventory of 95, an increase of 49%.

Median Sale Price
Last May, the median sale price for Apex Area was $469,005. This May, the median sale price was $601,000, an increase of $131,995 compared to last year. The current median sold price is higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 25%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Up 116%
Vs. Year Ago

Months of Supply
In May, there was 0.7 months of supply available in Apex Area, compared to 0.3 in May 2021. That is an increase of 112% 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 242 homes newly listed for sale in Apex Area compared to 193 in May 2021, an increase of 25%. There were 185 current contracts pending sale this May compared to 199 a year ago. The number of current contracts is 7% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Apex Area was 105.5% of the average list price, which is 1.8% higher than at this time last year.
Days on Market
This month, the average number of days on market was 13, higher than the average last year, which was 11, an increase of 18%.
 The Fonville Morisey Market Minute Apex Area are defined as properties listed in zip code/s 27502, 27539, 27523 and 27562.
*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.