fonville morisey realty market report mar 2015
TRANSCRIPT
® The Fonville Morisey Market Conditions Report
1
® The Fonville Morisey Market Conditions Report
1
- March 2015 Release -www.fmrealty.com
® The Fonville Morisey Market Conditions Report ® The Fonville Morisey Market Conditions Report
The Triangle, NC Area - March 2015
●
● The current median sale price was 8%
higher than in March 2014.
This March, the median sale price was
$223,000, an increase of 10% compared
to February.
Highlights
$1
99
,90
0
$1
98
,25
0
$2
09
,00
0
$2
09
,00
0
$2
09
,90
0
$2
14
,00
0
$2
00
,00
0
$2
09
,60
0
$2
07
,00
0
$2
19
,00
0
$2
09
,90
0
$2
05
,00
0
$2
06
,00
0
$2
07
,00
0
$2
21
,00
0
$2
15
,40
0
$2
19
,00
0
$2
14
,56
8
$2
09
,90
0
$2
10
,00
0
$2
15
,00
0
$2
09
,45
8
$2
00
,00
0
$2
03
,56
0
$2
23
,00
0
$0
$50,000
$100,000
$150,000
$200,000
$250,000
Median Sales Price
$225,0
00
$173,0
00
$169,9
00
$254,9
03
$290,3
55
$247,9
50
$191,5
00
$176,5
00
$289,5
00
$338,1
66
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
Median Sale PriceOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
3%
1%
5%
2%
7% 8
%
4%
9%
1%
11
% 12
%
10
%
3%
4%
6%
3%
4%
0%
5%
0%
4%
-4%
-5%
-1%
8%
-10%
-5%
0%
5%
10%
15%
Median Sale PricePercent Change Year/Year
® The Fonville Morisey Market Conditions Report ® The Fonville Morisey Market Conditions Report
The Triangle, NC Area - March 2015
2,16
5
2,50
0
2,98
7
2,9
17
2,97
5
2,74
7
2,20
7
2,19
8
1,90
9
2,2
48
1,61
6
1,59
1
2,16
1
2,51
1
3,03
2
3,0
56
3,04
3
2,79
3
2,3
58
2,51
2
1,97
0
2,45
8
1,6
35
1,70
9
2,58
1
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Total Units Sold
1,3
13
289
198
94
77
1,5
44
359
243
120
82
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
Total Units SoldOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
●
● This month's total units sold was
higher than at this time last year, an
increase of 19% versus March 2014.
There was an increase of 51% in total
units sold in March compared to
February.
Highlights2
8%
38
%
35
%
17
%
37
%
21
%
17
%
18
%
12
%
21
%
12
%
2%
0%
0% 2%
5%
2%
2%
7%
14
%
3%
9%
1%
7%
19
%
-15%
-5%
5%
15%
25%
35%
45%
Total Units SoldPercent Change Year/Year
® The Fonville Morisey Market Conditions Report ® The Fonville Morisey Market Conditions Report
The Triangle, NC Area - March 2015
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Total Units Sold by Type
Detached Attached Condo
2,102
81%
399
16%
80
3%
Total Units Sold by TypeCurrent Month
Detached Attached Condo
596
23%
1,225
47%
506
20%
152
6%
102
4%
Total Units Sold by Price RangeCurrent Month
< 150K 150K to < 300K 300K to < 450K
450K to < 600K 600K and up
0
200
400
600
800
1,000
1,200
1,400
1,600
Total Units Sold by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
® The Fonville Morisey Market Conditions Report ® The Fonville Morisey Market Conditions Report
The Triangle, NC Area - March 20151
2,4
85
12
,82
3
13
,04
5
13
,14
4
13
,16
5
13
,33
0
13
,31
9
13
,07
6
12
,55
5
11
,02
2
11
,15
0
11
,30
5
11
,60
1
11
,95
5
12
,41
8
12
,44
5
12
,36
5
12
,02
9
11
,95
3
11
,35
1
9,7
46
8,3
66
8,2
42
7,9
40
7,9
41
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Total Active Inventory
5,5
13
1,5
39
1,3
36
833
635
3,5
05
956
999
724
479
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
Total Active InventoryOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
-18
%
-17
%
-16
% -14
%
-13
%
-11
% -9%
-8%
-9% -7
%
-7%
-8%
-7%
-7% -5
%
-5%
-6%
-10
%
-10
%
-13
%
-22
%
-24
%
-26
%
-30
%
-32
%
-40%
-35%
-30%
-25%
-20%
-15%
-10%
-5%
0%
Total Active InventoryPercent Change Year/Year
●
● Versus March 2014, the total number
of homes available was lower by 3,660
units or 32%.
This month's supply of available
inventory remained relatively stable
compared to last month.
Highlights
® The Fonville Morisey Market Conditions Report ® The Fonville Morisey Market Conditions Report
The Triangle, NC Area - March 2015
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Total Active Inventory by Type
Detached Attached Condo
6,772
85%
784
10%
385
5%
Total Active Inventory
by TypeCurrent Month
Detached Attached Condo
1,628
21%
2,972
37%
1,651
21%
786
10%
904
11%
Total Active Inventory by
Price RangeCurrent Month
< 150K 150K to < 300K 300K to < 450K
450K to < 600K 600K and up
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Total Active Inventory by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
® The Fonville Morisey Market Conditions Report ® The Fonville Morisey Market Conditions Report
The Triangle, NC Area - March 2015
97
.6%
97
.6%
97
.9%
97
.8%
97
.8% 97
.9%
97
.6% 9
7.7
%
97
.9%
97
.7%
97
.3%
97
.6%
97
.9%
98
.2%
98
.2%
98
.1%
98
.1%
97
.9%
97
.8% 9
7.9
%
97
.8%
97
.7% 97
.8% 9
7.9
%
98
.1%
96.8%
97.0%
97.2%
97.4%
97.6%
97.8%
98.0%
98.2%
98.4%
Average Sale Price as a Percent of List Price
98.0
%
97.9
%
97.5
%
97.0
%
98.7
%
98.4
%
97.6
%
98.1
%
97.2
% 98.4
%
94.0%
96.0%
98.0%
100.0%
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
Sale Price as % of List PriceOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
Days on Market
Current
Month
One Year
Ago72 87
Down -17%
Vs. Year Ago
Avg Sale Price as % of List Price
Current
Month
One Year
Ago98.1% 97.9%
Up 0.2% Vs. Year Ago
92%
93%
94%
95%
96%
97%
98%
99%
100%
Average Sale Price as a Percent of List Price by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
102
94
85
79 78 7779
76 77
81
8991
87
82
76
73
78 78
82
77
89
81
72
77
72
60
65
70
75
80
85
90
95
100
105Days on Market
® The Fonville Morisey Market Conditions Report ® The Fonville Morisey Market Conditions Report
The Triangle, NC Area - March 2015$5
13,7
97
$598
,542
$743
,768
$735
,109
$739
,826
$690
,402
$526
,034
$543
,296
$469
,213 $5
73,1
29
$404
,835
$376
,991
$537
,927
$617
,848
$772
,336
$798
,796
$783
,194
$716
,921
$582
,696
$629
,389
$496
,458
$633
,968
$397
,023
$419
,448
$670
,166
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
Total Dollar Volume SoldIn Thousands
Total Dollar Volume Sold
Current
Month
One Year
Ago$670,166,169 $537,926,556
Up 25% Vs. Year Ago
Months of Supply
Current
Month
One Year
Ago3.1 5.4
Down -43% Vs. Year Ago
5.8
5.1
4.4 4.5
4.4
4.9
6.0
6.0
6.6
4.9
6.9 7
.1
5.4
4.8
4.1
4.1
4.1 4
.3
5.1
4.5
5.0
3.4
5.0
4.7
3.1
0
1
2
3
4
5
6
7
8
Months of SupplyCurrent Month's Active Inventory/Current Month's Unit Sales
●
●
Total volume sold this March was 25%
greater than the same month one year
ago.
In March, there was 3.1 months of
supply available, compared to 5.4 in
March 2014. That was a decrease of
43% versus a year ago.
Highlights
® The Fonville Morisey Market Conditions Report ® The Fonville Morisey Market Conditions Report
The Triangle, NC Area - March 20154
,01
9
4,1
78
3,9
35
3,6
10
3,2
66
3,4
71
3,1
37
3,0
46
2,2
91
1,8
57
2,9
06
3,0
20
4,0
85
4,2
42
4,2
81
3,7
76
3,5
27
3,3
21
2,9
68
3,0
01
2,1
83
1,8
80
2,9
83
2,8
16
4,1
43
2,8
28
3,0
60
3,0
18
2,6
95
2,4
02
2,3
37
2,0
40
2,1
03
1,8
48
1,4
82 1
,92
9
2,0
77
2,9
75
3,0
60
3,0
23
2,7
23
2,5
44
2,3
66
1,6
45 1,9
78
2,8
54
2,0
24
2,3
18
2,5
02
3,4
07
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
New Listings & New Contracts
New Listings New Contracts (Under Active Contract Status)
New Listings
Current
Month
One Year
Ago4,143 4,085
Up 1% Vs. Year Ago
New Contracts
Current
Month
One Year
Ago3,407 2,975
Up 15% Vs. Year Ago
1.41.4
1.3 1.3 1.4
1.51.5
1.4
1.2 1.3
1.51.5
1.4 1.4 1.4 1.4 1.4 1.4
1.8
1.5
0.8
0.9
1.3
1.11.2
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
Supply/Demand RatioNumber of New Listings to New Contracts
2,2
10
655
357
287
184
2,2
34
594
393
347
176
0500
1,0001,5002,0002,5003,000
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
New ListingsOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
1,7
34
467
254
160
99
1,9
33
483
344
213
129
0
500
1,000
1,500
2,000
2,500
3,000
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
New ContractsOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
● Based on this month's amount of new
listings and new contracts, the ratio of
home supply (new listings) to current
home demand (new contracts) was 1.2,
a decrease of 11% from March 2014.
Highlights
® The Fonville Morisey Market Conditions Report ® The Fonville Morisey Market Conditions Report
Contacts & Disclaimers
MEDIA CONTACT
Vickie Cardin, VP Marketing
Email: [email protected]
Phone: (919) 781-7809
CREATED BY
Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst
THE TRIANGLE NORTH CAROLINA AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION
Counties include in this area are: Alamance, Chatham, Durham, Franklin, Granville, Harnett, Johnston, Orange, and Wake in North Carolina.
DISCLAIMER
Information contained in this report is based on data provided by the Triangle area Multiple Listing Service and its member Association(s) of REALTORS®. No repre-
sentation, expressed or implied should be taken from information herein. Neither Triangle MLS nor Fonville Morisey Realty guarantee or are in any way responsible
for the accuracy of these results, which do not reflect all activity in the marketplace. “Detached”, “Attached”, and “Condo” varies by local area Multiple Listing Service
(MLS) definition. For more information regarding your specific market, contact one of Fonville Morisey’s knowledgeable and experienced sales associates. Information
contained in this report is not limited to transactions done by Fonville Morisey Realty. The data reported is solely for residential real estate transactions.
Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Fonville Morisey
Realty.
Material appearing in this report may be reproduced or copied without permission.
Please use the following acknowledgement for citation:
Source: Fonville Morisey Realty and also cite the Triangle MLS.