The Fonville Morisey Market Minute

Focus On: Apex Area Housing Market October 2023

Zip Code(s): 27502, 27539, 27523 and 27562
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -2%
Vs. Year Ago
Down -51%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 153 sold this month in Apex Area versus 158 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 2% versus October 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 162 units or 51%. The total number of active inventory this October was 158 compared to 320 in October 2022. This month's total of 158 is lower than the previous month's total supply of available inventory of 163, a decrease of 3%.

Median Sale Price
Last October, the median sale price for Apex Area was $561,250. This October, the median sale price was $582,000, an increase of 4% or $20,750 compared to last year. The current median sold price is 1% lower than in September.

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 5%
Vs. Year Ago
Up 16%
Vs. Year Ago
No Change
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In October, there was 1.0 months of supply available in Apex Area, compared to 2.1 in October 2022. That is a decrease of 50% 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 138 homes newly listed for sale in Apex Area compared to 132 in October 2022, an increase of 5%. There were 126 current contracts pending sale this October compared to 109 a year ago. The number of current contracts is 16% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Apex Area was 99.6% of the average list price, which is similar compared to a year ago.
Days on Market
This month, the average number of days on market was 32, higher than the average last year, which was 28, an increase of 14%.
 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.