The Fonville Morisey Market Minute

Focus On: Knightdale, Zebulon, and Wendell Area Housing Market December 2022

Zip Code(s): 27545, 27597 and 27591
Units Sold
121
Active Inventory
403
Median Sale Price
$393,490
Days On Market
45
Down
Vs. Year Ago
Up 158%
Vs. Year Ago
Up 12%
Vs. Year Ago
Up 246%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 121 sold this month in Knightdale, Zebulon, and Wendell 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 247 units or 158%. The total number of active inventory this December was 403 compared to 156 in December 2021. This month's total of 403 is lower than the previous month's total supply of available inventory of 428, a decrease of 6%.

Median Sale Price
Last December, the median sale price for Knightdale, Zebulon, and Wendell Area was $349,950. This December, the median sale price was $393,490, an increase of 12% or $43,540 compared to last year. The current median sold price is 5% higher than in November.

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


New Listings
94
Current Contracts
85
Sold Vs. List Price
98.9%
Months of Supply
3.3
Down -36%
Vs. Year Ago
Down -36%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 316%
Vs. Year Ago

Months of Supply
In December, there was 3.3 months of supply available in Knightdale, Zebulon, and Wendell Area, compared to 0.8 in December 2021. That is an increase of 314% 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 94 homes newly listed for sale in Knightdale, Zebulon, and Wendell Area compared to 147 in December 2021, a decrease of 36%. There were 85 current contracts pending sale this December compared to 133 a year ago. The number of current contracts is 36% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Knightdale, Zebulon, and Wendell Area was 98.9% of the average list price, which is 3.1% lower than at this time last year.
Days on Market
This month, the average number of days on market was 45, higher than the average last year, which was 13, an increase of 246%.
 The Fonville Morisey Market Minute Knightdale, Zebulon, and Wendell Area are defined as properties listed in zip code/s 27545, 27597 and 27591.
*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.