The Long & Foster Market Minute

FOCUS ON: APEX AREA HOUSING MARKET MAY 2024

Zip Code(s): 27502, 27539, 27523 and 27562
Units Sold
148
Active Inventory
155
Median Sale Price
$642,500
Days On Market
21
Down -3%
Vs. Year Ago
Down -35%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -81%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 148 sold this month in Apex Area Real Estate versus 180 last month, a decrease of 18%. This month's total units sold was lower than at this time last year, a decrease of 3% versus May 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 84 units or 35%. The total number of active inventory this May was 155 compared to 239 in May 2023. This month's total of 155 is higher than the previous month's total supply of available inventory of 117, an increase of 32%.

Median Sale Price
Last May, the median sale price for Apex Area Homes was $603,000. This May, the median sale price was $642,500, an increase of 7% or $39,500 compared to last year. The current median sold price is 1% 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
210
Current Contracts
157
Sold Vs. List Price
100.6%
Months of Supply
1.0
Down -6%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -33%
Vs. Year Ago

Months of Supply
In May, there was 1.0 months of supply available in Apex Area, compared to 1.6 in May 2023. That is a decrease of 33% 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 210 homes newly listed for sale in Apex Area compared to 223 in May 2023, a decrease of 6%. There were 157 current contracts pending sale this May compared to 186 a year ago. The number of current contracts is 16% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Apex Area was 100.6% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 111, a decrease of 81%.

The Long & Foster 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.