The Fonville Morisey Market Minute

Focus On: Clayton Area Housing Market October 2023

Zip Code(s): 27520 and 27527
Units Sold
124
Active Inventory
272
Median Sale Price
$349,495
Days On Market
45
Down -33%
Vs. Year Ago
Down -35%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 36%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 124 sold this month in Clayton Area versus 129 last month, a decrease of 4%. This month's total units sold was lower than at this time last year, a decrease of 33% versus October 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 147 units or 35%. The total number of active inventory this October was 272 compared to 419 in October 2022. This month's total of 272 is higher than the previous month's total supply of available inventory of 265, an increase of 3%.

Median Sale Price
Last October, the median sale price for Clayton Area was $379,155. This October, the median sale price was $349,495, a decrease of 8% or $29,660 compared to last year. The current median sold price is 4% 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
164
Current Contracts
130
Sold Vs. List Price
99.0%
Months of Supply
2.2
Up 15%
Vs. Year Ago
Up 9%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In October, there was 2.2 months of supply available in Clayton Area. The amount of supply is similar compared to 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 164 homes newly listed for sale in Clayton Area compared to 143 in October 2022, an increase of 15%. There were 130 current contracts pending sale this October compared to 119 a year ago. The number of current contracts is 9% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Clayton Area was 99.0% 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 45, higher than the average last year, which was 33, an increase of 36%.
 The Fonville Morisey Market Minute Clayton Area are defined as properties listed in zip code/s 27520 and 27527.
*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.