The Fonville Morisey Market Minute

Focus On: Orange County Housing Market May 2022

Units Sold
170
Active Inventory
131
Median Sale Price
$525,000
Days On Market
13
Up 2%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -41%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 170 sold this month in Orange County versus 157 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 2% versus May 2021.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 1%. The total number of active inventory this May was 131 compared to 130 in May 2021. This month's total of 131 is higher than the previous month's total supply of available inventory of 103, an increase of 27%.

Median Sale Price
Last May, the median sale price for Orange County was $449,000. This May, the median sale price was $525,000, an increase of 17% or $76,000 compared to last year. The current median sold price is 5% 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
214
Current Contracts
168
Sold Vs. List Price
109.2%
Months of Supply
0.8
No Change
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 4.7%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 0.8 months of supply available in Orange County. 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 214 homes newly listed for sale in Orange County, which is similar to the amount in May 2021. There were 168 current contracts pending sale this May compared to 228 a year ago. The number of current contracts is 26% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Orange County was 109.2% of the average list price, which is 4.9% higher than at this time last year.
Days on Market
This month, the average number of days on market was 13, lower than the average last year, which was 22, a decrease of 41%.
 The Fonville Morisey Market Minute Orange County are defined as properties listed in zip code/s .
*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.