The Fonville Morisey Market Minute

Focus On: Clayton Area Housing Market May 2022

Zip Code(s): 27520 and 27527
Units Sold
221
Active Inventory
207
Median Sale Price
$405,000
Days On Market
15
Up 7%
Vs. Year Ago
Up 73%
Vs. Year Ago
Up 31%
Vs. Year Ago
Down -29%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 221 sold this month in Clayton Area versus 213 last month, an increase of 4%. This month's total units sold was higher than at this time last year, an increase of 7% versus May 2021.

Active Inventory
Versus last year, the total number of homes available this month is higher by 87 units or 73%. The total number of active inventory this May was 207 compared to 120 in May 2021. This month's total of 207 is higher than the previous month's total supply of available inventory of 175, an increase of 18%.

Median Sale Price
Last May, the median sale price for Clayton Area was $310,000. This May, the median sale price was $405,000, an increase of $95,000 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
293
Current Contracts
242
Sold Vs. List Price
102.8%
Months of Supply
0.9
Up 22%
Vs. Year Ago
No Change
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Up 62%
Vs. Year Ago

Months of Supply
In May, there was 0.9 months of supply available in Clayton Area, compared to 0.6 in May 2021. That is an increase of 62% 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 293 homes newly listed for sale in Clayton Area compared to 240 in May 2021, an increase of 22%. There were 242 current contracts pending sale this May, consistent with the volume a year ago. The number of current contracts is 22% higher than last month.

Sale Price to List Price Ratio
In May, the average sale price in Clayton Area was 102.8% of the average list price, which is 0.7% higher than at this time last year.
Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 21, a decrease of 29%.
 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.