Pittsboro and Siler City Area Housing Market Data

There was a decrease in total units sold in June, with 41 sold this month in Pittsboro and Siler City Area versus 54 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 13% versus June 2018.

Versus last year, the total number of homes available this month is higher by 20 units or 13%. The total number of active inventory this June was 174 compared to 154 in June 2018. This month's total of 174 is higher than the previous month's total supply of available inventory of 171, an increase of 2%.

Last June, the median sale price for Pittsboro and Siler City Area was $344,000. This June, the median sale price was $355,000, an increase of 3% or $11,000 compared to last year. The current median sold price is 7% higher than in May.

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

In June, there was 4.2 months of supply available in Pittsboro and Siler City Area, compared to 3.3 in June 2018. That is an increase of 30% 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.

This month there were 53 homes newly listed for sale in Pittsboro and Siler City Area compared to 77 in June 2018, a decrease of 31%. There were 39 current contracts pending sale this June compared to 45 a year ago. The number of current contracts is 13% lower than last June.

In June, the average sale price in Pittsboro and Siler City Area was 99.6% of the average list price, which is 0.8% higher than at this time last year.

This month, the average number of days on market was 50, lower than the average last year, which was 120, a decrease of 58%.





Focus On: Pittsboro and Siler City Area Housing Market			June 2019

Zip Code(s): 27312 and 27344
Units Sold 41	Active Inventory 174	Median Sale Price $355,000	Days On Market 50

Down -13% Vs. Year Ago	Up 13% Vs. Year Ago	Up 3% Vs. Year Ago	Down -58% Vs. Year Ago


		Units Sold There was a decrease in total units sold in June, with 41 sold this month in Pittsboro and Siler City Area versus 54 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 13% versus June 2018.
Active Inventory Versus last year, the total number of homes available this month is higher by 20 units or 13%. The total number of active inventory this June was 174 compared to 154 in June 2018. This month's total of 174 is higher than the previous month's total supply of available inventory of 171, an increase of 2%.
		Median Sale Price Last June, the median sale price for Pittsboro and Siler City Area was $344,000. This June, the median sale price was $355,000, an increase of 3% or $11,000 compared to last year. The current median sold price is 7% higher than in May. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 53	Current Contracts 39	Sold Vs. List Price 99.6%	Months of Supply 4.2

Down -31% Vs. Year Ago	Down -13% Vs. Year Ago	Up 0.8% Vs. Year Ago	Up 29% Vs. Year Ago


		Months of Supply In June, there was 4.2 months of supply available in Pittsboro and Siler City Area, compared to 3.3 in June 2018. That is an increase of 30% 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 53 homes newly listed for sale in Pittsboro and Siler City Area compared to 77 in June 2018, a decrease of 31%. There were 39 current contracts pending sale this June compared to 45 a year ago. The number of current contracts is 13% lower than last June.
		Sale Price to List Price Ratio In June, the average sale price in Pittsboro and Siler City Area was 99.6% of the average list price, which is 0.8% higher than at this time last year. Days on Market This month, the average number of days on market was 50, lower than the average last year, which was 120, a decrease of 58%.


	Pittsboro and Siler City Area are defined as properties listed in zip code/s 27312 and 27344.
	*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.
	Information 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.